Jindal Poly Films Limited Stock Forecast
Evaluation of Jindal Poly Films Limited stock downgraded after the last trading session.
(Updated on Apr 18, 2024)
The Jindal Poly Films Limited stock price fell by -2.46% on the last day (Thursday, 18th Apr 2024) from ₹552.85 to ₹539.25. During the last trading day the stock fluctuated 5.45% from a day low at ₹532.95 to a day high of ₹562.00. The price has fallen in 6 of the last 10 days but is still up by 0.13% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -144 thousand shares and in total, 66 thousand shares were bought and sold for approximately ₹35.71 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is ₹534.44, a level that may pose a second chance to hit a runner. According to fan-theory ₹645.82 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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JINDALPOLY.NS Signals & Forecast
The Jindal Poly Films Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹540.76. On a fall, the stock will find some support from the long-term average at approximately ₹530.41. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Friday, April 05, 2024, and so far it has fallen -2.52%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Jindal Poly Films Limited stock
Jindal Poly Films Limited finds support from accumulated volume at ₹532.20 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 ₹29.05 between high and low, or 5.45%. For the last week, the stock has had daily average volatility of 4.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (JINDALPOLY.NS) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Jindal Poly Films Limited to open at ₹544.73, and during the day (based on 14 day Average True Range), to move between ₹513.73 and ₹564.77, which gives a possible trading interval of +/-₹25.52 (+/-4.73%) up or down from last closing price. If Jindal Poly Films Limited takes out the full calculated possible swing range there will be an estimated 9.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹532.20 (1.31%) than the resistance at ₹551.20 (2.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Jindal Poly Films Limited stock A Buy?
Jindal Poly Films Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -2.959 Sell Candidate Downgraded
Predicted Opening Price for Jindal Poly Films Limited of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| ₹544.73 ( 1.02%) | ₹539.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JINDALPOLY.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 573.78 | 6.40 % | |
| R2 | 562.69 | 4.35 % | ||
| R1 | 555.83 | 3.07 % | ||
| Current price: | 539.25 | |||
| Support | S1 | 533.64 | -1.04 % | |
| S2 | 526.78 | -2.31 % | ||
| S3 | 515.68 | -4.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 618.55 | 14.71 % | |
| R2 | 552.85 | 2.52 % | ||
| R1 | 551.20 | 2.22 % | ||
| Current price | 539.25 | |||
| Support | S1 | 532.20 | -1.31% | |
| S2 | 515.85 | -4.34% | ||
| S3 | 513.10 | -4.85% |
JINDALPOLY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 21, 2022 | Sep 21, 2022 | Sep 21, 2022 | ₹5.00 | 0.538% |
| 2 | Sep 22, 2021 | Sep 22, 2021 | Sep 22, 2021 | ₹2.00 | 0.199% |
| 3 | Sep 22, 2020 | Sep 22, 2020 | Sep 22, 2020 | ₹1.00 | 0.234% |
| 4 | May 30, 2019 | Sep 17, 2019 | Sep 25, 2019 | ₹1.00 | 0.442% |
| 5 | May 15, 2018 | Sep 19, 2018 | Oct 29, 2018 | ₹1.00 | 0.394% |
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