JK Tyre & Industries Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Evaluation of JK Tyre & Industries Limited stock downgraded after the last trading session.
(Updated on Jun 26, 2024)
The JK Tyre & Industries Limited stock price fell by -1.06% on the last day (Wednesday, 26th Jun 2024) from ₹401.35 to ₹397.10. During the last trading day the stock fluctuated 2.24% from a day low at ₹395.00 to a day high of ₹403.85. The price has fallen in 6 of the last 10 days and is down by -2.52% for this period. 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 -834 thousand shares and in total, 1 million shares were bought and sold for approximately ₹475.93 million.
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 -5.92% during the next 3 months and, with a 90% probability hold a price between ₹345.72 and ₹389.84 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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JKTYRE.NS Signals & Forecast
There are mixed signals in the stock today. The JK Tyre & Industries Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹400.91. On a fall, the stock will find some support from the short-term average at ₹396.61. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, June 10, 2024, and so far it has fallen -2.95%. 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 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 JK Tyre & Industries Limited stock
JK Tyre & Industries Limited finds support from accumulated volume at ₹396.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹8.85 (2.24%) between high and low. For the last week, the stock has had daily average volatility of 2.26%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (JKTYRE.NS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect JK Tyre & Industries Limited to open at ₹398.65, and during the day (based on 14 day Average True Range), to move between ₹385.17 and ₹409.03, which gives a possible trading interval of +/-₹11.93 (+/-3.00%) up or down from last closing price. If JK Tyre & Industries Limited takes out the full calculated possible swing range there will be an estimated 6.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹396.80 (0.08%) than the resistance at ₹401.35 (1.07%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is JK Tyre & Industries Limited stock A Buy?
JK Tyre & Industries 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: -3.285 Sell Candidate Downgraded
Predicted Opening Price for JK Tyre & Industries Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₹398.65 ( 0.390%) | ₹397.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JKTYRE.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 407.50 | 2.62% |
| R2 | 404.12 | 1.77% |
| R1 | 402.03 | 1.24% |
| Price | 397.10 | |
| S1 | 395.27 | -0.461% |
| S2 | 393.18 | -0.99% |
| S3 | 389.80 | -1.84% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 424.45 | 6.89% |
| R2 | 422.00 | 6.27% |
| R1 | 401.35 | 1.07% |
| Price | 397.10 | |
| S1 | 396.80 | -0.0755% |
| S2 | 392.80 | -1.08% |
| S3 | 374.35 | -5.73% |
JKTYRE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 16, 2024 | Feb 16, 2024 | Feb 27, 2024 | ₹1.00 | 0.194% |
| 2 | Jul 27, 2023 | Jul 27, 2023 | Jul 27, 2023 | ₹2.00 | 0.80% |
| 3 | Aug 18, 2022 | Aug 18, 2022 | Aug 18, 2022 | ₹1.50 | 1.09% |
| 4 | Aug 18, 2021 | Aug 18, 2021 | Aug 18, 2021 | ₹2.00 | 1.27% |
| 5 | Sep 14, 2020 | Sep 14, 2020 | Sep 14, 2020 | ₹0.700 | 1.20% |
FAQ
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