Ircon International Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Tuesday for Ircon International Limited
(Updated on Jul 02, 2024)
The Ircon International Limited stock price gained 1.46% on the last trading day (Tuesday, 2nd Jul 2024), rising from ₹271.25 to ₹275.20. 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 2.57% from a day low at ₹270.70 to a day high of ₹277.65. The price has been going up and down for this period, and there has been a 0.46% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 9 million shares were bought and sold for approximately ₹2.55 billion.
The stock lies in the middle of a 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 20.15% during the next 3 months and, with a 90% probability hold a price between ₹304.52 and ₹377.75 at the end of this 3-month period.
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IRCON.NS Signals & Forecast
The Ircon International 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 ₹272.48 and ₹267.11. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -1.52%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Ircon International Limited stock
Ircon International Limited finds support from accumulated volume at ₹271.85 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 ₹6.95 between high and low, or 2.57%. For the last week, the stock has had daily average volatility of 2.80%.
Our recommended stop-loss: ₹264.33 (-3.95%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (IRCON.NS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Ircon International Limited to open at ₹274.52, and during the day (based on 14 day Average True Range), to move between ₹262.97 and ₹287.43, which gives a possible trading interval of +/-₹12.23 (+/-4.44%) up or down from last closing price. If Ircon International Limited takes out the full calculated possible swing range there will be an estimated 8.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹276.40 (0.44%) than the support at ₹271.85 (1.22%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Ircon International Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Ircon International Limited stock to perform well in the short-term.
Current score: 4.824 Buy Candidate Unchanged
Predicted Opening Price for Ircon International Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| ₹274.52 ( 0.248%) | ₹275.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IRCON.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 281.47 | 2.28% |
| R2 | 278.81 | 1.31% |
| R1 | 277.17 | 0.716% |
| Price | 275.20 | |
| S1 | 271.86 | -1.21% |
| S2 | 270.22 | -1.81% |
| S3 | 267.57 | -2.77% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 289.75 | 5.29% |
| R2 | 279.05 | 1.40% |
| R1 | 276.40 | 0.436% |
| Price | 275.20 | |
| S1 | 271.85 | -1.22% |
| S2 | 261.40 | -5.01% |
| S3 | 237.30 | -13.77% |
IRCON Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 16, 2024 | Feb 16, 2024 | Mar 09, 2024 | ₹1.80 | 0.81% |
| 2 | Sep 05, 2023 | Sep 05, 2023 | Oct 12, 2023 | ₹1.20 | 0.88% |
| 3 | Feb 17, 2023 | Feb 17, 2023 | Feb 17, 2023 | ₹1.80 | 3.30% |
| 4 | Sep 08, 2022 | Sep 08, 2022 | Sep 08, 2022 | ₹0.650 | 1.55% |
| 5 | Feb 21, 2022 | Feb 21, 2022 | Feb 21, 2022 | ₹0.700 | 1.65% |
FAQ
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