Kirloskar Oil Engines Limited Stock Forecast
Kirloskar Oil Engines Limited stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on Jun 14, 2024)
The Kirloskar Oil Engines Limited stock price gained 3.63% on the last trading day (Friday, 14th Jun 2024), rising from ₹1,290.95 to ₹1,337.80. During the last trading day the stock fluctuated 3.64% from a day low at ₹1,299.75 to a day high of ₹1,347.00. The price has risen in 7 of the last 10 days and is up by 7.53% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 26 thousand more shares were traded than the day before. In total, 32 thousand shares were bought and sold for approximately ₹42.29 million.
The stock lies in the middle of a 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 56.12% during the next 3 months and, with a 90% probability hold a price between ₹1,942.43 and ₹2,388.48 at the end of this 3-month period.
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KIRLOSENG.BO Signals & Forecast
The Kirloskar Oil Engines 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 ₹1,269.69 and ₹1,175.19. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 Tuesday, May 21, 2024, and so far it has fallen -1.57%. 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).
Support, Risk & Stop-loss for Kirloskar Oil Engines Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹1,206.30 and ₹1,102.70. 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 Oil Engines Limited finds support just below today's level at ₹1,206.30. If this is broken, then the next support from accumulated volume will be at ₹1,102.70 and ₹1,052.95.
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 ₹47.25 between high and low, or 3.64%. For the last week, the stock has had daily average volatility of 4.40%.
Our recommended stop-loss: ₹1,269.31 (-5.12%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 60 days ago.)
Trading Expectations (KIRLOSENG.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Kirloskar Oil Engines Limited to open at ₹1,328.18, and during the day (based on 14 day Average True Range), to move between ₹1,263.26 and ₹1,412.34, which gives a possible trading interval of +/-₹74.54 (+/-5.57%) up or down from last closing price. If Kirloskar Oil Engines Limited takes out the full calculated possible swing range there will be an estimated 11.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹1,359.20 (1.60%) than the support at ₹1,206.30 (9.83%), 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 Oil Engines Limited stock A Buy?
Kirloskar Oil Engines Limited holds several positive signals and is within a strong 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.086 Strong Buy Candidate Upgraded
Predicted Opening Price for Kirloskar Oil Engines Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹1,328.18 ( 0.719%) | ₹1,337.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KIRLOSENG.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,375.43 | 2.81% |
| R2 | 1,357.38 | 1.46% |
| R1 | 1,346.23 | 0.630% |
| Price | 1,337.80 | |
| S1 | 1,310.13 | -2.07% |
| S2 | 1,298.98 | -2.90% |
| S3 | 1,280.93 | -4.25% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 1,359.20 | 1.60% |
| Price | 1,337.80 | |
| S1 | 1,206.30 | -9.83% |
| S2 | 1,102.70 | -17.57% |
| S3 | 1,052.95 | -21.29% |
KIRLOSENG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 23, 2024 | Feb 23, 2024 | Mar 12, 2024 | ₹2.50 | 0.310% |
| 2 | Aug 04, 2023 | Aug 04, 2023 | Sep 10, 2023 | ₹2.50 | 0.491% |
| 3 | Feb 23, 2023 | Feb 23, 2023 | Mar 10, 2023 | ₹2.50 | 0.667% |
| 4 | Feb 01, 2018 | Feb 01, 2018 | Feb 17, 2018 | ₹2.50 | 0.673% |
| 5 | Jul 27, 2017 | Jul 27, 2017 | Aug 28, 2017 | ₹5.00 | 1.33% |
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