JM Financial Limited Stock Forecast
JM Financial Limited stock price up 1.43% on Friday
(Updated on Apr 19, 2024)
The JM Financial Limited stock price gained 1.43% on the last trading day (Friday, 19th Apr 2024), rising from ₹79.72 to ₹80.86. During the last trading day the stock fluctuated 3.85% from a day low at ₹78.15 to a day high of ₹81.16. The price has risen in 6 of the last 10 days and is up by 0.85% over the past 2 weeks. Volume fell on the last day by -13 thousand shares and in total, 238 thousand shares were bought and sold for approximately ₹19.21 million. 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.
Given the current short-term trend, the stock is expected to fall -34.20% during the next 3 months and, with a 90% probability hold a price between ₹40.66 and ₹53.21 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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JMFINANCIL.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 12.40%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The JM Financial Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹81.28 and ₹83.25. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for JM Financial Limited stock
JM Financial Limited finds support from accumulated volume at ₹79.35 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 ₹3.01 between high and low, or 3.85%. For the last week, the stock has had daily average volatility of 5.29%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (JMFINANCIL.BO) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect JM Financial Limited to open at ₹80.06, and during the day (based on 14 day Average True Range), to move between ₹76.53 and ₹85.19, which gives a possible trading interval of +/-₹4.33 (+/-5.35%) up or down from last closing price. If JM Financial Limited takes out the full calculated possible swing range there will be an estimated 10.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹79.35 (1.87%) than the resistance at ₹85.28 (5.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is JM Financial Limited stock A Buy?
JM Financial Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.858 Sell Candidate Unchanged
Predicted Opening Price for JM Financial Limited of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| ₹80.06 ( 0.99%) | ₹80.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JMFINANCIL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 83.07 | 2.73 % | |
| R2 | 81.92 | 1.31 % | ||
| R1 | 81.21 | 0.429 % | ||
| Current price: | 80.86 | |||
| Support | S1 | 78.91 | -2.42 % | |
| S2 | 78.20 | -3.29 % | ||
| S3 | 77.05 | -4.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 98.90 | 22.31 % | |
| R2 | 87.94 | 8.76 % | ||
| R1 | 85.28 | 5.47 % | ||
| Current price | 80.86 | |||
| Support | S1 | 79.35 | -1.87% | |
| S2 | 79.22 | -2.03% | ||
| S3 | 78.67 | -2.71% |
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