KIOCL Limited Stock Forecast

KIOCL Limited stock price ended at ₹472.90 on Tuesday, after gaining 0.95%.
(Updated on Jun 25, 2024)

KIOCL.BO Signals & Forecast

The KIOCL 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 ₹461.82 and ₹439.29. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Thursday, June 13, 2024, and so far it has fallen -0.83%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for KIOCL Limited stock

KIOCL Limited finds support from accumulated volume at ₹461.90 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 ₹19.05 between high and low, or 4.11%. For the last week, the stock has had daily average volatility of 5.13%.

The KIOCL Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: ₹458.72 (-3.00%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a sell signal from a pivot top found 14 days ago.)

Trading Expectations (KIOCL.BO) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect KIOCL Limited to open at ₹472.65, and during the day (based on 14 day Average True Range), to move between ₹447.57 and ₹498.23, which gives a possible trading interval of +/-₹25.33 (+/-5.36%) up or down from last closing price. If KIOCL Limited takes out the full calculated possible swing range there will be an estimated 10.71% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹473.60 (0.15%) than the support at ₹461.90 (2.33%), 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 KIOCL Limited stock A Buy?

KIOCL Limited holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

Current score: 5.248 Strong Buy Candidate Unchanged

Predicted Opening Price for KIOCL Limited of Wednesday, June 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.