Kirloskar Industries Limited Stock Forecast
High volatility in Kirloskar Industries Limited stock price on Friday which ended trading at ₹5,232.65
(Updated on Apr 26, 2024)
The Kirloskar Industries Limited stock price gained 12.84% on the last trading day (Friday, 26th Apr 2024), rising from ₹4,637.15 to ₹5,232.65. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 17.33% from a day low at ₹4,640.00 to a day high of ₹5,444.00. The price has been going up and down for this period, and there has been a 18.57% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 59 thousand more shares were traded than the day before. In total, 65 thousand shares were bought and sold for approximately ₹341.00 million.
The stock has broken the wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ₹4,578.52, a level that may pose a second chance to hit a runner.
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KIRLOSIND.NS Signals & Forecast
The Kirloskar Industries 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 ₹4,476.01 and ₹4,230.33. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 25.40%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Kirloskar Industries Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹4,530.30 and ₹4,373.15. 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 Industries Limited finds support just below today's level at ₹4,530.30. If this is broken, then the next support from accumulated volume will be at ₹4,373.15 and ₹4,179.35.
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 ₹804.00 between high and low, or 17.33%. For the last week, the stock has had daily average volatility of 6.94%.
The Kirloskar Industries Limited stock is extremely overbought on RSI14 (78). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: ₹5,052.65 (-3.44%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (KIRLOSIND.NS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Kirloskar Industries Limited to open at ₹5,105.55, and during the day (based on 14 day Average True Range), to move between ₹5,044.16 and ₹5,421.14, which gives a possible trading interval of +/-₹188.49 (+/-3.60%) up or down from last closing price. If Kirloskar Industries Limited takes out the full calculated possible swing range there will be an estimated 7.20% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹4,530.30, some ₹702.35 (13.42%) from the current price of ₹5,232.65, our system finds the risk reward attractive.
Is Kirloskar Industries Limited stock A Buy?
Kirloskar Industries Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Kirloskar Industries Limited of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
₹5,105.55 ( 2.43%) | ₹5,232.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KIRLOSIND.NS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5,909.55 | 12.94 % | |
R2 | 5,602.42 | 7.07 % | ||
R1 | 5,412.68 | 3.44 % | ||
Current price: | 5,232.65 | |||
Support | S1 | 4,798.42 | -8.30 % | |
S2 | 4,608.68 | -11.92 % | ||
S3 | 4,301.55 | -17.79 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 5,232.65 | |||
Support | S1 | 4,530.30 | -13.42% | |
S2 | 4,373.15 | -16.43% | ||
S3 | 4,179.35 | -20.13% |
KIRLOSIND Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Aug 04, 2023 | Aug 04, 2023 | Aug 04, 2023 | ₹11.00 | 0.305% |
2 | Aug 03, 2023 | Aug 03, 2023 | Aug 03, 2023 | ₹11.00 | 0.309% |
3 | Aug 01, 2022 | Aug 01, 2022 | Aug 01, 2022 | ₹10.00 | 0.692% |
4 | Aug 03, 2021 | Aug 03, 2021 | Aug 03, 2021 | ₹10.00 | 0.589% |
5 | Aug 02, 2021 | Aug 02, 2021 | Aug 02, 2021 | ₹10.00 | 0.589% |
FAQ
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