Kolte-Patil Developers Limited Stock Forecast
Kolte-Patil Developers Limited stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 03, 2024)
The Kolte-Patil Developers Limited stock price gained 1.39% on the last trading day (Friday, 3rd May 2024), rising from ₹534.50 to ₹541.95. During the last trading day the stock fluctuated 3.50% from a day low at ₹533.35 to a day high of ₹552.00. The price has been going up and down for this period, and there has been a 1.4% 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, 14 thousand more shares were traded than the day before. In total, 31 thousand shares were bought and sold for approximately ₹16.86 million.
The stock lies in the middle of a very 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 11.41% during the next 3 months and, with a 90% probability hold a price between ₹497.18 and ₹637.12 at the end of this 3-month period.
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KOLTEPATIL.BO Signals & Forecast
The Kolte-Patil Developers 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 ₹541.23 and ₹492.46. 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 Friday, April 12, 2024, and so far it has fallen -2.96%. 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 Kolte-Patil Developers Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹502.90 and ₹487.25. 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, Kolte-Patil Developers Limited finds support just below today's level at ₹502.90. If this is broken, then the next support from accumulated volume will be at ₹487.25 and ₹461.35.
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 ₹18.65 between high and low, or 3.50%. For the last week, the stock has had daily average volatility of 2.87%.
Our recommended stop-loss: ₹518.89 (-4.25%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (KOLTEPATIL.BO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Kolte-Patil Developers Limited to open at ₹542.43, and during the day (based on 14 day Average True Range), to move between ₹520.48 and ₹563.42, which gives a possible trading interval of +/-₹21.47 (+/-3.96%) up or down from last closing price. If Kolte-Patil Developers Limited takes out the full calculated possible swing range there will be an estimated 7.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹542.05 (0.02%) than the support at ₹502.90 (7.21%), 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 Kolte-Patil Developers 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 Kolte-Patil Developers 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: 2.294 Buy Candidate Upgraded
Predicted Opening Price for Kolte-Patil Developers Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹542.43 ( 0.0892%) | ₹541.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KOLTEPATIL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 561.08 | 3.53 % | |
| R2 | 553.96 | 2.22 % | ||
| R1 | 549.56 | 1.40 % | ||
| Current price: | 541.95 | |||
| Support | S1 | 535.31 | -1.23 % | |
| S2 | 530.91 | -2.04 % | ||
| S3 | 523.78 | -3.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 558.50 | 3.05 % | |
| R2 | 547.90 | 1.10 % | ||
| R1 | 542.05 | 0.0185 % | ||
| Current price | 541.95 | |||
| Support | S1 | 502.90 | -7.21% | |
| S2 | 487.25 | -10.09% | ||
| S3 | 461.35 | -14.87% |
KOLTEPATIL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 11, 2023 | Aug 11, 2023 | Sep 18, 2023 | ₹4.00 | 0.90% |
| 2 | Aug 04, 2022 | Aug 04, 2022 | Aug 22, 2022 | ₹2.00 | 0.739% |
| 3 | Sep 08, 2016 | Sep 08, 2016 | Sep 08, 2016 | ₹1.50 | 1.18% |
| 4 | Sep 08, 2015 | Sep 08, 2015 | Sep 08, 2015 | ₹2.00 | 1.26% |
| 5 | Sep 04, 2014 | Sep 04, 2014 | Sep 04, 2014 | ₹1.60 | 0.90% |
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