Kalyani Forge Limited Stock Forecast
Weaker technical forecast for Kalyani Forge Limited as stock downgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)
The Kalyani Forge Limited stock price fell by -4.96% on the last day (Friday, 28th Jun 2024) from ₹566.05 to ₹538.00. It has now fallen 7 days in a row. During the last trading day the stock fluctuated 5.25% from a day low at ₹537.75 to a day high of ₹566.00. The price has fallen in 7 of the last 10 days but is still up by 18.79% over the past 2 weeks. Volume has increased on the last day by 2 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, 7 thousand shares were bought and sold for approximately ₹3.65 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 21.69% during the next 3 months and, with a 90% probability hold a price between ₹508.08 and ₹823.49 at the end of this 3-month period.
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KALYANIFRG.NS Signals & Forecast
The Kalyani Forge 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 ₹606.51. On a fall, the stock will find some support from the long-term average at approximately ₹476.70. 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, June 19, 2024, and so far it has fallen -18.87%. 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. The stock had a Golden Star Signal on Friday, April 26, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, April 26, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Kalyani Forge Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹452.90 and ₹430.45. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Kalyani Forge Limited finds support just below today's level at ₹452.90. If this is broken, then the next support from accumulated volume will be at ₹430.45 and ₹412.35.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₹28.25 between high and low, or 5.25%. For the last week, the stock has had daily average volatility of 6.80%.
Our recommended stop-loss: ₹517.38 (-3.83%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (KALYANIFRG.NS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Kalyani Forge Limited to open at ₹547.25, and during the day (based on 14 day Average True Range), to move between ₹498.06 and ₹577.94, which gives a possible trading interval of +/-₹39.94 (+/-7.42%) up or down from last closing price. If Kalyani Forge Limited takes out the full calculated possible swing range there will be an estimated 14.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹552.60 (2.71%) than the support at ₹452.90 (15.82%), 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 Kalyani Forge Limited stock A Buy?
Kalyani Forge 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: 0.080 Hold/Accumulate Downgraded
Predicted Opening Price for Kalyani Forge Limited of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
₹547.25 ( 1.72%) | ₹538.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KALYANIFRG.NS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 575.50 | 6.97% |
R2 | 564.71 | 4.96% |
R1 | 558.04 | 3.73% |
Price | 538.00 | |
S1 | 536.46 | -0.287% |
S2 | 529.79 | -1.53% |
S3 | 519.00 | -3.53% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 663.10 | 23.25% |
R2 | 656.60 | 22.04% |
R1 | 552.60 | 2.71% |
Price | 538.00 | |
S1 | 452.90 | -15.82% |
S2 | 430.45 | -19.99% |
S3 | 412.35 | -23.36% |
KALYANIFRG Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 13, 2023 | Sep 13, 2023 | Oct 20, 2023 | ₹3.00 | 0.656% |
2 | Aug 10, 2022 | Aug 10, 2022 | Aug 10, 2022 | ₹3.00 | 1.62% |
3 | Aug 05, 2021 | Aug 05, 2021 | Aug 05, 2021 | ₹1.50 | 0.679% |
4 | Sep 17, 2020 | Sep 17, 2020 | Sep 17, 2020 | ₹1.00 | 0.695% |
5 | May 18, 2019 | Jul 17, 2019 | Aug 25, 2019 | ₹4.00 | 2.38% |
FAQ
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