Kirloskar Brothers Limited Stock Forecast
Kirloskar Brothers Limited stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 17, 2024)
The Kirloskar Brothers Limited stock price fell by -0.733% on the last day (Friday, 17th May 2024) from ₹1,862.90 to ₹1,849.25. During the last trading day the stock fluctuated 7.92% from a day low at ₹1,755.05 to a day high of ₹1,894.00. The price has been going up and down for this period, and there has been a 32.65% gain for the last 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 -1 million shares and in total, 755 thousand shares were bought and sold for approximately ₹1.40 billion.
The stock lies in the upper part of a very wide and strong rising 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 ₹1,873.60 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 52.10% during the next 3 months and, with a 90% probability hold a price between ₹2,124.40 and ₹2,849.74 at the end of this 3-month period.
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KIRLOSBROS.NS Signals & Forecast
The Kirloskar Brothers 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 ₹1,589.09 and ₹1,307.22. 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 Thursday, May 16, 2024, and so far it has fallen -0.733%. 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 Kirloskar Brothers Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹1,689.60 and ₹1,532.90. 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, Kirloskar Brothers Limited finds support just below today's level at ₹1,689.60. If this is broken, then the next support from accumulated volume will be at ₹1,532.90 and ₹1,394.05.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹138.95 between high and low, or 7.92%. For the last week, the stock has had daily average volatility of 10.47%.
The Kirloskar Brothers 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: ₹1,782.34 (-3.62%) (This stock has high daily movements and this gives high risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (KIRLOSBROS.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Kirloskar Brothers Limited to open at ₹1,832.77, and during the day (based on 14 day Average True Range), to move between ₹1,745.24 and ₹1,953.26, which gives a possible trading interval of +/-₹104.01 (+/-5.62%) up or down from last closing price. If Kirloskar Brothers Limited takes out the full calculated possible swing range there will be an estimated 11.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹1,862.90 (0.74%) than the support at ₹1,689.60 (8.63%), 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 Kirloskar Brothers Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Kirloskar Brothers Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.974 Buy Candidate Upgraded
Predicted Opening Price for Kirloskar Brothers Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹1,832.77 ( 0.89%) | ₹1,849.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KIRLOSBROS.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,971.72 | 6.62 % | |
| R2 | 1,918.64 | 3.75 % | ||
| R1 | 1,885.85 | 1.98 % | ||
| Current price: | 1,849.25 | |||
| Support | S1 | 1,779.69 | -3.76 % | |
| S2 | 1,746.90 | -5.53 % | ||
| S3 | 1,693.82 | -8.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 1,862.90 | 0.738 % | ||
| Current price | 1,849.25 | |||
| Support | S1 | 1,689.60 | -8.63% | |
| S2 | 1,532.90 | -17.11% | ||
| S3 | 1,394.05 | -24.62% |
KIRLOSBROS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 26, 2024 | Jul 26, 2024 | Aug 31, 2024 | ₹6.00 | 0.324% |
| 2 | Jul 25, 2023 | Jul 25, 2023 | Jul 25, 2023 | ₹4.50 | 0.621% |
| 3 | Aug 02, 2022 | Aug 02, 2022 | Aug 02, 2022 | ₹3.00 | 0.85% |
| 4 | Aug 26, 2021 | Aug 26, 2021 | Aug 26, 2021 | ₹3.00 | 0.791% |
| 5 | Sep 17, 2020 | Sep 17, 2020 | Sep 17, 2020 | ₹0.500 | 0.432% |
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