J.K. Cement Limited Stock Forecast
J.K. Cement Limited stock downgraded to Sell Candidate
(Updated on Jun 21, 2024)
The J.K. Cement Limited stock price fell by -1.43% on the last day (Friday, 21st Jun 2024) from ₹4,321.50 to ₹4,259.90. During the last trading day the stock fluctuated 2.98% from a day low at ₹4,212.45 to a day high of ₹4,337.95. The price has risen in 6 of the last 10 days and is up by 6.15% over the past 2 weeks. Volume has increased on the last day by 524 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, 685 thousand shares were bought and sold for approximately ₹2.92 billion.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.61% during the next 3 months and, with a 90% probability hold a price between ₹3,685.95 and ₹4,287.24 at the end of this 3-month period.
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JKCEMENT.NS Signals & Forecast
The J.K. Cement 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 ₹4,301.54. On a fall, the stock will find some support from the long-term average at approximately ₹4,027.93. 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 Tuesday, June 18, 2024, and so far it has fallen -3.36%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for J.K. Cement Limited stock
J.K. Cement Limited finds support from accumulated volume at ₹4,078.10 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 ₹125.50 between high and low, or 2.98%. For the last week, the stock has had daily average volatility of 2.92%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (JKCEMENT.NS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect J.K. Cement Limited to open at ₹4,270.10, and during the day (based on 14 day Average True Range), to move between ₹4,130.70 and ₹4,389.10, which gives a possible trading interval of +/-₹129.20 (+/-3.03%) up or down from last closing price. If J.K. Cement Limited takes out the full calculated possible swing range there will be an estimated 6.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹4,283.10 (0.54%) than the support at ₹4,078.10 (4.27%), 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.
Is J.K. Cement Limited stock A Buy?
J.K. Cement 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 Hold/Accumulate to a Sell candidate.
Current score: -2.405 Sell Candidate Downgraded
Predicted Opening Price for J.K. Cement Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ₹4,270.10 ( 0.239%) | ₹4,259.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JKCEMENT.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4,395.60 | 3.19% |
| R2 | 4,347.66 | 2.06% |
| R1 | 4,318.04 | 1.36% |
| Price | 4,259.90 | |
| S1 | 4,222.16 | -0.89% |
| S2 | 4,192.54 | -1.58% |
| S3 | 4,144.60 | -2.71% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4,408.00 | 3.48% |
| R2 | 4,326.70 | 1.57% |
| R1 | 4,283.10 | 0.545% |
| Price | 4,259.90 | |
| S1 | 4,078.10 | -4.27% |
| S2 | 4,031.55 | -5.36% |
| S3 | 3,933.95 | -7.65% |
JKCEMENT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 10, 2024 | Jul 10, 2024 | Aug 15, 2024 | ₹20.00 | 0.469% |
| 2 | Jul 09, 2024 | Jul 09, 2024 | Aug 15, 2024 | ₹20.00 | 0.469% |
| 3 | Aug 01, 2023 | Aug 01, 2023 | Aug 01, 2023 | ₹15.00 | 0.460% |
| 4 | Aug 02, 2022 | Aug 02, 2022 | Aug 02, 2022 | ₹15.00 | 0.588% |
| 5 | Aug 03, 2021 | Aug 03, 2021 | Aug 03, 2021 | ₹15.00 | 0.459% |
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