Jain Irrigation Systems Limited Stock Forecast
Red day on Tuesday for Jain Irrigation Systems Limited
(Updated on Jul 02, 2024)
The Jain Irrigation Systems Limited stock price fell by -2.55% on the last day (Tuesday, 2nd Jul 2024) from ₹76.03 to ₹74.09. During the last trading day the stock fluctuated 3.67% from a day low at ₹73.90 to a day high of ₹76.61. The price has been going up and down for this period, and there has been a -1.17% loss for the last 2 weeks. Volume has increased on the last day by 957 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, 4 million shares were bought and sold for approximately ₹267.11 million.
The stock lies in the middle of a very 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 31.78% during the next 3 months and, with a 90% probability hold a price between ₹80.71 and ₹111.32 at the end of this 3-month period.
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JISLJALEQS.NS Signals & Forecast
A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -9.47%. Further fall is indicated until a new bottom pivot has been found. 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. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Jain Irrigation Systems 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 ₹76.23. On a fall, the stock will find some support from the long-term average at approximately ₹69.90. 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.
Support, Risk & Stop-loss for Jain Irrigation Systems Limited stock
Jain Irrigation Systems Limited finds support from accumulated volume at ₹73.67 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹2.71 between high and low, or 3.67%. For the last week, the stock has had daily average volatility of 3.40%.
Our recommended stop-loss: ₹71.65 (-3.29%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (JISLJALEQS.NS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Jain Irrigation Systems Limited to open at ₹74.87, and during the day (based on 14 day Average True Range), to move between ₹70.29 and ₹77.89, which gives a possible trading interval of +/-₹3.80 (+/-5.13%) 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 10.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹73.67 (0.57%) than the resistance at ₹76.15 (2.78%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Jain Irrigation Systems Limited stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 1.493 Buy Candidate Unchanged
Predicted Opening Price for Jain Irrigation Systems Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| ₹74.87 ( 1.05%) | ₹74.09 |
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 | |
|---|---|---|
| R3 | 77.58 | 4.71% |
| R2 | 76.54 | 3.31% |
| R1 | 75.90 | 2.45% |
| Price | 74.09 | |
| S1 | 73.83 | -0.349% |
| S2 | 73.19 | -1.21% |
| S3 | 72.16 | -2.61% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 81.84 | 10.46% |
| R2 | 78.11 | 5.43% |
| R1 | 76.15 | 2.78% |
| Price | 74.09 | |
| S1 | 73.67 | -0.567% |
| S2 | 68.30 | -7.81% |
| S3 | 66.80 | -9.84% |
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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