Jyothy Laboratories Limited Stock Forecast
Jyothy Laboratories Limited stock downgraded to Hold/Accumulate
(Updated on May 09, 2024)
The Jyothy Laboratories Limited stock price fell by -0.80% on the last day (Thursday, 9th May 2024) from ₹461.00 to ₹457.30. During the last trading day the stock fluctuated 3.88% from a day low at ₹452.45 to a day high of ₹470.00. The price has risen in 5 of the last 10 days and is up by 7.17% over the past 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 -4 million shares and in total, 2 million shares were bought and sold for approximately ₹701.33 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹460.46 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -6.47% during the next 3 months and, with a 90% probability hold a price between ₹354.61 and ₹430.67 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
JYOTHYLAB.NS Signals & Forecast
The Jyothy Laboratories Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹440.87 and ₹432.17. A breakdown below any of these levels will issue sell signals. 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 -0.80%. 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 Laboratories Limited stock
Jyothy Laboratories Limited finds support from accumulated volume at ₹456.55 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 ₹17.55 between high and low, or 3.88%. For the last week, the stock has had daily average volatility of 6.50%.
Our recommended stop-loss: ₹439.44 (-3.90%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (JYOTHYLAB.NS) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Jyothy Laboratories Limited to open at ₹459.92, and during the day (based on 14 day Average True Range), to move between ₹438.67 and ₹475.93, which gives a possible trading interval of +/-₹18.63 (+/-4.07%) up or down from last closing price. If Jyothy Laboratories Limited takes out the full calculated possible swing range there will be an estimated 8.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹456.55 (0.16%) than the resistance at ₹461.00 (0.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Jyothy Laboratories Limited will release earnings BMO on Wednesday, May 15, 2024. We will update the financials statements for Jyothy Laboratories Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.82% in the first trading day after earnings release.
Is Jyothy Laboratories Limited stock A Buy?
Jyothy Laboratories 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. 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 Hold/Accumulate candidate.
Current score: -0.081 Hold/Accumulate Downgraded
Predicted Opening Price for Jyothy Laboratories Limited of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| ₹459.92 ( 0.572%) | ₹457.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JYOTHYLAB.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 477.47 | 4.41 % | |
| R2 | 470.76 | 2.94 % | ||
| R1 | 466.62 | 2.04 % | ||
| Current price: | 457.30 | |||
| Support | S1 | 453.21 | -0.89 % | |
| S2 | 449.07 | -1.80 % | ||
| S3 | 442.37 | -3.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 481.60 | 5.31 % | |
| R2 | 469.70 | 2.71 % | ||
| R1 | 461.00 | 0.81 % | ||
| Current price | 457.30 | |||
| Support | S1 | 456.55 | -0.164% | |
| S2 | 427.40 | -6.54% | ||
| S3 | 426.70 | -6.69% |
JYOTHYLAB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 03, 2023 | Jul 03, 2023 | Jul 03, 2023 | ₹3.00 | 1.34% |
| 2 | Jul 01, 2022 | Jul 01, 2022 | Jul 01, 2022 | ₹2.50 | 1.67% |
| 3 | Jul 20, 2021 | Jul 20, 2021 | Jul 20, 2021 | ₹4.00 | 2.35% |
| 4 | Mar 04, 2020 | Mar 19, 2020 | Mar 24, 2020 | ₹3.00 | 3.35% |
| 5 | Jul 12, 2019 | Jul 12, 2019 | Jul 12, 2019 | ₹3.00 | 1.85% |
FAQ
Click here for our free guide on how to buy Jyothy Laboratories Limited Stock.
