ITI Limited Stock Forecast
ITI Limited stock price down 0.539% on Friday
(Updated on Jun 14, 2024)
The ITI Limited stock price fell by -0.539% on the last day (Friday, 14th Jun 2024) from ₹306.40 to ₹304.75. During the last trading day the stock fluctuated 3.17% from a day low at ₹302.90 to a day high of ₹312.50. The price has risen in 7 of the last 10 days and is up by 2.59% over the past 2 weeks. Volume has increased on the last day by 86 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 146 thousand shares were bought and sold for approximately ₹44.60 million.
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 19.15% during the next 3 months and, with a 90% probability hold a price between ₹334.06 and ₹398.54 at the end of this 3-month period.
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ITI.BO Signals & Forecast
The ITI 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 ₹300.69 and ₹298.01. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 11.65%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Friday, June 07, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Friday, June 07, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for ITI Limited stock
ITI Limited finds support from accumulated volume at ₹295.90 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 ₹9.60 between high and low, or 3.17%. For the last week, the stock has had daily average volatility of 3.24%.
Our recommended stop-loss: ₹292.35 (-4.07%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (ITI.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect ITI Limited to open at ₹306.72, and during the day (based on 14 day Average True Range), to move between ₹289.00 and ₹320.50, which gives a possible trading interval of +/-₹15.75 (+/-5.17%) up or down from last closing price. If ITI Limited takes out the full calculated possible swing range there will be an estimated 10.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹305.65 (0.30%) than the support at ₹295.90 (2.90%), 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 ITI 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 ITI Limited stock to perform well in the short-term.
Current score: 2.993 Buy Candidate Unchanged
Predicted Opening Price for ITI Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹306.72 ( 0.645%) | ₹304.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ITI.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 316.32 | 3.80% |
| R2 | 312.65 | 2.59% |
| R1 | 310.38 | 1.85% |
| Price | 304.75 | |
| S1 | 303.05 | -0.558% |
| S2 | 300.78 | -1.30% |
| S3 | 297.12 | -2.50% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 318.50 | 4.51% |
| R2 | 313.45 | 2.85% |
| R1 | 305.65 | 0.295% |
| Price | 304.75 | |
| S1 | 295.90 | -2.90% |
| S2 | 293.40 | -3.72% |
| S3 | 279.60 | -8.25% |
ITI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 12, 2002 | Sep 12, 2002 | Sep 12, 2002 | ₹0.500 | 2.35% |
| 2 | Aug 30, 2001 | Aug 30, 2001 | Aug 30, 2001 | ₹0.500 | 5.59% |
FAQ
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