Jain Irrigation Systems Limited Stock Forecast
Jain Irrigation Systems Limited stock upgraded to Buy Candidate.
(Updated on May 17, 2024)
The Jain Irrigation Systems Limited stock price gained 1.45% on the last trading day (Friday, 17th May 2024), rising from ₹35.23 to ₹35.74. It has now gained 4 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 3.08% from a day low at ₹34.75 to a day high of ₹35.82. The price has risen in 6 of the last 10 days and is up by 0.56% over the past 2 weeks. Volume fell on the last day by -9 thousand shares and in total, 7 thousand shares were bought and sold for approximately ₹239.39 thousand. 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 upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ₹36.30 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 8.28% during the next 3 months and, with a 90% probability hold a price between ₹32.00 and ₹39.31 at the end of this 3-month period.
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JISLDVREQS.BO Signals & Forecast
The Jain Irrigation Systems 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 ₹34.89 and ₹33.72. 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). 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, May 10, 2024, and so far it has fallen -0.89%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Jain Irrigation Systems Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹33.81 and ₹33.22. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Jain Irrigation Systems Limited finds support just below today's level at ₹33.81. If this is broken, then the next support from accumulated volume will be at ₹33.22 and ₹32.31.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹1.07 between high and low, or 3.08%. For the last week the stock has had daily average volatility of 3.89%.
Our recommended stop-loss: ₹34.44 (-3.63%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (JISLDVREQS.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Jain Irrigation Systems Limited to open at ₹35.44, and during the day (based on 14 day Average True Range), to move between ₹33.92 and ₹37.56, which gives a possible trading interval of +/-₹1.82 (+/-5.09%) up or down from last closing price. If Jain Irrigation Systems Limited takes out the full calculated possible swing range there will be an estimated 10.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹35.86 (0.34%) than the support at ₹33.81 (5.40%), 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.
Earnings coming up
Jain Irrigation Systems Limited will release earnings BMO on Friday, May 24, 2024. We will update the financials statements for Jain Irrigation Systems Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 0% in the first trading day after earnings release.
Is Jain Irrigation Systems 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 Jain Irrigation Systems 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: 1.025 Buy Candidate Upgraded
Predicted Opening Price for Jain Irrigation Systems Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹35.44 ( 0.85%) | ₹35.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JISLDVREQS.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.51 | 2.15 % | |
| R2 | 36.10 | 1.00 % | ||
| R1 | 35.85 | 0.295 % | ||
| Current price: | 35.74 | |||
| Support | S1 | 35.03 | -1.99 % | |
| S2 | 34.78 | -2.70 % | ||
| S3 | 34.37 | -3.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.06 | 0.90 % | |
| R2 | 35.94 | 0.560 % | ||
| R1 | 35.86 | 0.336 % | ||
| Current price | 35.74 | |||
| Support | S1 | 33.81 | -5.40% | |
| S2 | 33.22 | -7.05% | ||
| S3 | 32.31 | -9.60% |
JISLDVREQS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 12, 2018 | Sep 12, 2018 | Oct 28, 2018 | ₹1.00 | 2.38% |
| 2 | Sep 14, 2017 | Sep 14, 2017 | Oct 28, 2017 | ₹0.750 | 1.10% |
| 3 | Sep 15, 2016 | Sep 15, 2016 | Sep 15, 2016 | ₹0.500 | 0.86% |
| 4 | Sep 10, 2015 | Sep 10, 2015 | Sep 10, 2015 | ₹0.500 | 1.24% |
| 5 | Sep 11, 2014 | Sep 11, 2014 | Sep 11, 2014 | ₹0.500 | 0.732% |
FAQ
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