Jain Irrigation Systems Limited Stock Forecast
Big movements in Jain Irrigation Systems Limited stock price on Wednesday moving 11.44% between high and low
(Updated on May 08, 2024)
The Jain Irrigation Systems Limited stock price gained 7.64% on the last trading day (Wednesday, 8th May 2024), rising from ₹63.45 to ₹68.30. During the last trading day the stock fluctuated 11.44% from a day low at ₹62.05 to a day high of ₹69.15. The price has fallen in 5 of the last 10 days but is still up by 12.89% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 million more shares were traded than the day before. In total, 18 million shares were bought and sold for approximately ₹1.21 billion.
The stock lies in the upper part of a very 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 ₹71.23 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 7.84% during the next 3 months and, with a 90% probability hold a price between ₹51.55 and ₹76.82 at the end of this 3-month period.
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JISLJALEQS.NS Signals & Forecast
Mostly positive signals in the chart today. 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 ₹64.89 and ₹57.58. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 53.31%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Jain Irrigation Systems Limited stock
Jain Irrigation Systems Limited finds support from accumulated volume at ₹66.80 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 ₹7.10 between high and low, or 11.44%. For the last week, the stock has had daily average volatility of 6.91%.
Our recommended stop-loss: ₹65.91 (-3.50%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 37 days ago.)
Trading Expectations (JISLJALEQS.NS) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Jain Irrigation Systems Limited to open at ₹66.50, and during the day (based on 14 day Average True Range), to move between ₹65.04 and ₹71.56, which gives a possible trading interval of +/-₹3.26 (+/-4.77%) 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 9.54% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹66.80, some ₹1.50 (2.20%) from the current price of ₹68.30, our system finds the risk reward attractive.
Is Jain Irrigation Systems Limited stock A Buy?
Jain Irrigation Systems Limited holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 5.972 Strong Buy Candidate Upgraded
Predicted Opening Price for Jain Irrigation Systems Limited of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| ₹66.50 ( 2.64%) | ₹68.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JISLJALEQS.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 73.60 | 7.76 % | |
| R2 | 70.89 | 3.79 % | ||
| R1 | 69.21 | 1.34 % | ||
| Current price: | 68.30 | |||
| Support | S1 | 63.79 | -6.61 % | |
| S2 | 62.11 | -9.06 % | ||
| S3 | 59.40 | -13.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 68.30 | |||
| Support | S1 | 66.80 | -2.20% | |
| S2 | 66.05 | -3.29% | ||
| S3 | 63.40 | -7.17% |
JISLJALEQS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2019 | Sep 12, 2019 | Oct 08, 2019 | ₹1.00 | 5.88% |
| 2 | May 23, 2018 | Sep 12, 2018 | Oct 28, 2018 | ₹1.00 | 1.47% |
| 3 | May 24, 2017 | Sep 14, 2017 | Oct 28, 2017 | ₹0.750 | 0.749% |
| 4 | May 31, 2016 | Sep 15, 2016 | Oct 30, 2016 | ₹0.500 | 0.465% |
| 5 | May 15, 2015 | Sep 10, 2015 | Oct 30, 2015 | ₹0.500 | 0.81% |
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