ITI Limited Stock Forecast
ITI Limited stock upgraded to Buy Candidate.
(Updated on Jun 28, 2024)
The ITI Limited stock price gained 0.684% on the last trading day (Friday, 28th Jun 2024), rising from ₹306.80 to ₹308.90. During the last trading day the stock fluctuated 2.45% from a day low at ₹306.30 to a day high of ₹313.80. The price has been going up and down for this period, and there has been a 0.96% gain for the last 2 weeks. Volume fell on the last day by -7 million shares and in total, 1 million shares were bought and sold for approximately ₹436.65 million. 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 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 14.27% during the next 3 months and, with a 90% probability hold a price between ₹321.48 and ₹383.83 at the end of this 3-month period.
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ITI.NS 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 ₹307.58 and ₹301.46. 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 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. 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 Thursday, May 23, 2024, and so far it has fallen -3.17%. Further fall is indicated until a new bottom pivot has been found. 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 ₹305.55 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 ₹7.50 between high and low, or 2.45%. For the last week, the stock has had daily average volatility of 4.99%.
Our recommended stop-loss: ₹292.71 (-5.24%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 73 days ago.)
Trading Expectations (ITI.NS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect ITI Limited to open at ₹309.67, and during the day (based on 14 day Average True Range), to move between ₹293.99 and ₹323.81, which gives a possible trading interval of +/-₹14.91 (+/-4.83%) up or down from last closing price. If ITI Limited takes out the full calculated possible swing range there will be an estimated 9.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹305.55 (1.08%) than the resistance at ₹312.35 (1.12%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.721 Buy Candidate Upgraded
Predicted Opening Price for ITI Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹309.67 ( 0.248%) | ₹308.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ITI.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 317.17 | 2.68% |
| R2 | 314.30 | 1.75% |
| R1 | 312.53 | 1.18% |
| Price | 308.90 | |
| S1 | 306.80 | -0.679% |
| S2 | 305.03 | -1.25% |
| S3 | 302.17 | -2.18% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 318.35 | 3.06% |
| R2 | 313.55 | 1.51% |
| R1 | 312.35 | 1.12% |
| Price | 308.90 | |
| S1 | 305.55 | -1.08% |
| S2 | 293.30 | -5.05% |
| S3 | 279.45 | -9.53% |
ITI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 31, 2002 | Sep 12, 2002 | Oct 02, 2002 | ₹0.500 | 2.91% |
| 2 | Jul 11, 2001 | Aug 27, 2001 | Oct 01, 2001 | ₹0.500 | 0% |
| 3 | Jul 14, 2000 | Sep 04, 2000 | Oct 01, 2000 | ₹0.600 | 0% |
FAQ
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