Jyothy Labs Limited Stock Forecast
Stronger technical forecast for Jyothy Labs Limited stock price after Friday trading.
(Updated on May 17, 2024)
The Jyothy Labs Limited stock price fell by -0.661% on the last day (Friday, 17th May 2024) from ₹446.00 to ₹443.05. During the last trading day the stock fluctuated 2.33% from a day low at ₹439.75 to a day high of ₹450.00. The price has been going up and down for this period, and there has been a 4.68% gain for the last 2 weeks. 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 -23 thousand shares and in total, 14 thousand shares were bought and sold for approximately ₹6.19 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 -3.18% during the next 3 months and, with a 90% probability hold a price between ₹376.69 and ₹445.25 at the end of this 3-month period.
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JYOTHYLAB.BO Signals & Forecast
The Jyothy Labs 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 ₹451.64. On a fall, the stock will find some support from the long-term average at approximately ₹436.28. 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 Wednesday, May 08, 2024, and so far it has fallen -4.05%. Further fall is indicated until a new bottom pivot has been found. 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 Jyothy Labs Limited stock
Jyothy Labs Limited finds support from accumulated volume at ₹439.45 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 ₹10.25 between high and low, or 2.33%. For the last week, the stock has had daily average volatility of 4.68%.
Our recommended stop-loss: ₹418.50 (-5.54%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 41 days ago.)
Trading Expectations (JYOTHYLAB.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Jyothy Labs Limited to open at ₹444.27, and during the day (based on 14 day Average True Range), to move between ₹423.52 and ₹462.58, which gives a possible trading interval of +/-₹19.53 (+/-4.41%) up or down from last closing price. If Jyothy Labs Limited takes out the full calculated possible swing range there will be an estimated 8.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹439.45 (0.81%) than the resistance at ₹456.60 (3.06%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Jyothy Labs Limited stock A Buy?
Jyothy Labs Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.511 Hold/Accumulate Upgraded
Predicted Opening Price for Jyothy Labs Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹444.27 ( 0.275%) | ₹443.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JYOTHYLAB.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 454.52 | 2.59 % | |
| R2 | 450.60 | 1.70 % | ||
| R1 | 448.18 | 1.16 % | ||
| Current price: | 443.05 | |||
| Support | S1 | 440.35 | -0.609 % | |
| S2 | 437.93 | -1.16 % | ||
| S3 | 434.02 | -2.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 461.75 | 4.22 % | |
| R2 | 457.15 | 3.18 % | ||
| R1 | 456.60 | 3.06 % | ||
| Current price | 443.05 | |||
| Support | S1 | 439.45 | -0.81% | |
| S2 | 433.20 | -2.22% | ||
| S3 | 427.15 | -3.59% |
JYOTHYLAB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 03, 2023 | Jul 03, 2023 | Aug 24, 2023 | ₹3.00 | 0.92% |
| 2 | Jul 03, 2017 | Jul 03, 2017 | Jul 15, 2017 | ₹6.00 | 3.31% |
| 3 | Jul 14, 2016 | Jul 14, 2016 | Jul 14, 2016 | ₹1.00 | 0.674% |
| 4 | Mar 17, 2016 | Mar 17, 2016 | Mar 17, 2016 | ₹4.00 | 2.82% |
| 5 | Jul 15, 2015 | Jul 15, 2015 | Jul 15, 2015 | ₹4.00 | 2.63% |
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