Kalyan Jewellers India Limited Stock Forecast
Evaluation of Kalyan Jewellers India Limited stock downgraded after the last trading session.
(Updated on May 21, 2024)
The Kalyan Jewellers India Limited stock price fell by -3.21% on the last day (Tuesday, 21st May 2024) from ₹414.95 to ₹401.65. During the last trading day the stock fluctuated 4.03% from a day low at ₹399.25 to a day high of ₹415.35. The price has risen in 6 of the last 10 days and is up by 0.43% over the past 2 weeks. Volume has increased on the last day by 12 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, 56 thousand shares were bought and sold for approximately ₹22.37 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹393.79 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 6.10% during the next 3 months and, with a 90% probability hold a price between ₹417.82 and ₹472.65 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
KALYANKJIL.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has risen 3.09%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Kalyan Jewellers India 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 ₹406.41 and ₹413.20. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Kalyan Jewellers India Limited stock
Kalyan Jewellers India Limited finds support from accumulated volume at ₹401.00 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 ₹16.10 (4.03%) between high and low. For the last week, the stock has had daily average volatility of 2.73%.
Our recommended stop-loss: ₹382.58 (-4.75%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (KALYANKJIL.BO) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Kalyan Jewellers India Limited to open at ₹405.42, and during the day (based on 14 day Average True Range), to move between ₹386.29 and ₹417.01, which gives a possible trading interval of +/-₹15.36 (+/-3.83%) up or down from last closing price. If Kalyan Jewellers India Limited takes out the full calculated possible swing range there will be an estimated 7.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹401.00 (0.16%) than the resistance at ₹415.40 (3.42%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Kalyan Jewellers India Limited stock A Buy?
Kalyan Jewellers India Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.640 Hold/Accumulate Downgraded
Predicted Opening Price for Kalyan Jewellers India Limited of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| ₹405.42 ( 0.94%) | ₹401.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KALYANKJIL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 421.52 | 4.95 % | |
| R2 | 415.37 | 3.42 % | ||
| R1 | 411.57 | 2.47 % | ||
| Current price: | 401.65 | |||
| Support | S1 | 399.27 | -0.593 % | |
| S2 | 395.47 | -1.54 % | ||
| S3 | 389.32 | -3.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 428.00 | 6.56 % | |
| R2 | 425.70 | 5.99 % | ||
| R1 | 415.40 | 3.42 % | ||
| Current price | 401.65 | |||
| Support | S1 | 401.00 | -0.162% | |
| S2 | 396.75 | -1.22% | ||
| S3 | 388.55 | -3.26% |
KALYANKJIL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 04, 2023 | Aug 04, 2023 | Sep 11, 2023 | ₹0.500 | 0.202% |
FAQ
Click here for our free guide on how to buy Kalyan Jewellers India Limited Stock.
