IRB Infrastructure Developers Limited Stock Forecast
Green day on Thursday for IRB Infrastructure Developers Limited stock after gaining 0.89%
(Updated on May 23, 2024)
The IRB Infrastructure Developers Limited stock price gained 0.89% on the last trading day (Thursday, 23rd May 2024), rising from ₹73.40 to ₹74.05. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.05% from a day low at ₹72.90 to a day high of ₹75.85. The price has risen in 7 of the last 10 days and is up by 12.88% over the past 2 weeks. Volume fell on the last day by -68 million shares and in total, 57 million shares were bought and sold for approximately ₹4.24 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 15.94% during the next 3 months and, with a 90% probability hold a price between ₹69.16 and ₹90.20 at the end of this 3-month period.
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IRB.NS Signals & Forecast
Mostly positive signals in the chart today. The IRB Infrastructure Developers Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹69.18 and ₹67.69. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 45.34%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for IRB Infrastructure Developers Limited stock
IRB Infrastructure Developers Limited finds support from accumulated volume at ₹73.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹2.95 between high and low, or 4.05%. For the last week, the stock has had daily average volatility of 4.38%.
Our recommended stop-loss: ₹71.61 (-3.30%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 73 days ago.)
Trading Expectations (IRB.NS) For The Upcoming Trading Day Of Friday 24th
For the upcoming trading day on Friday, 24th we expect IRB Infrastructure Developers Limited to open at ₹74.27, and during the day (based on 14 day Average True Range), to move between ₹71.13 and ₹76.97, which gives a possible trading interval of +/-₹2.92 (+/-3.94%) up or down from last closing price. If IRB Infrastructure Developers Limited takes out the full calculated possible swing range there will be an estimated 7.88% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹73.40, some ₹0.650 (0.88%) from the current price of ₹74.05, our system finds the risk reward attractive.
Is IRB Infrastructure Developers Limited stock A Buy?
IRB Infrastructure Developers Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 7.365 Strong Buy Candidate Unchanged
Predicted Opening Price for IRB Infrastructure Developers Limited of Friday, May 24, 2024
| Fair opening price May 24, 2024 | Current price |
|---|---|
| ₹74.27 ( 0.293%) | ₹74.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IRB.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 77.22 | 4.28 % | |
| R2 | 76.09 | 2.75 % | ||
| R1 | 75.39 | 1.81 % | ||
| Current price: | 74.05 | |||
| Support | S1 | 73.14 | -1.23 % | |
| S2 | 72.44 | -2.17 % | ||
| S3 | 71.32 | -3.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 74.05 | |||
| Support | S1 | 73.40 | -0.88% | |
| S2 | 70.00 | -5.47% | ||
| S3 | 67.20 | -9.25% |
IRB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 15, 2024 | May 15, 2024 | Jun 06, 2024 | ₹0.100 | 0.135% |
| 2 | Feb 08, 2024 | Feb 08, 2024 | Mar 01, 2024 | ₹0.100 | 0.156% |
| 3 | Nov 06, 2023 | Nov 06, 2023 | Nov 06, 2023 | ₹0.100 | 0.287% |
| 4 | May 29, 2023 | May 29, 2023 | May 29, 2023 | ₹0.0750 | 0.271% |
| 5 | Aug 12, 2022 | Aug 12, 2022 | Aug 12, 2022 | ₹0.125 | 0.478% |
FAQ
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