The Karur Vysya Bank Limited Stock Forecast
The Karur Vysya Bank Limited stock downgraded to Sell Candidate
(Updated on May 07, 2024)
The The Karur Vysya Bank Limited stock price fell by -4.38% on the last day (Tuesday, 7th May 2024) from ₹195.25 to ₹186.70. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 6.54% from a day low at ₹182.80 to a day high of ₹194.75. The price has fallen in 6 of the last 10 days and is down by -3.94% for this period. Volume has increased on the last day by 289 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, 384 thousand shares were bought and sold for approximately ₹71.67 million.
The stock lies in the middle of a wide and weak 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 8.37% during the next 3 months and, with a 90% probability hold a price between ₹194.40 and ₹222.15 at the end of this 3-month period.
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KARURVYSYA.BO Signals & Forecast
There are few to no technical positive signals at the moment. The The Karur Vysya Bank Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹197.00 and ₹187.40. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -8.41%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 The Karur Vysya Bank Limited stock
The Karur Vysya Bank Limited finds support from accumulated volume at ₹183.20 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 ₹11.95 (6.54%) between high and low. For the last week, the stock has had daily average volatility of 5.11%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KARURVYSYA.BO) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect The Karur Vysya Bank Limited to open at ₹188.08, and during the day (based on 14 day Average True Range), to move between ₹179.54 and ₹193.86, which gives a possible trading interval of +/-₹7.16 (+/-3.83%) up or down from last closing price. If The Karur Vysya Bank Limited takes out the full calculated possible swing range there will be an estimated 7.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹183.20 (1.87%) than the resistance at ₹194.80 (4.34%), 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
The Karur Vysya Bank Limited will release earnings BMO on Monday, May 13, 2024.The consensus among the analysts for the expected earnings (EPS) is $2.00. We will update the financials statements for The Karur Vysya Bank Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.22% in the first trading day after earnings release.
Is The Karur Vysya Bank Limited stock A Buy?
The The Karur Vysya Bank Limited stock holds several negative signals and despite the positive trend, we believe The Karur Vysya Bank Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.268 Sell Candidate Downgraded
Predicted Opening Price for The Karur Vysya Bank Limited of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| ₹188.08 ( 0.741%) | ₹186.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KARURVYSYA.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 200.03 | 7.14 % | |
| R2 | 195.47 | 4.70 % | ||
| R1 | 192.65 | 3.19 % | ||
| Current price: | 186.70 | |||
| Support | S1 | 183.52 | -1.70 % | |
| S2 | 180.70 | -3.21 % | ||
| S3 | 176.13 | -5.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 203.85 | 9.19 % | |
| R2 | 196.05 | 5.01 % | ||
| R1 | 194.80 | 4.34 % | ||
| Current price | 186.70 | |||
| Support | S1 | 183.20 | -1.87% | |
| S2 | 181.80 | -2.62% | ||
| S3 | 174.35 | -6.61% |
KARURVYSYA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 07, 2023 | Aug 07, 2023 | Sep 22, 2023 | ₹2.00 | 1.48% |
| 2 | Jul 19, 2022 | Jul 19, 2022 | Sep 02, 2022 | ₹1.60 | 2.34% |
| 3 | Jul 12, 2017 | Jul 12, 2017 | Jul 29, 2017 | ₹2.60 | 2.05% |
| 4 | Jul 12, 2016 | Jul 12, 2016 | Jul 12, 2016 | ₹4.00 | 4.14% |
| 5 | Mar 21, 2016 | Mar 21, 2016 | Mar 21, 2016 | ₹10.00 | 12.78% |
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