Kothari Products Limited Stock Forecast
Red day on Tuesday for Kothari Products Limited stock after losing 2.59%
(Updated on May 07, 2024)
The Kothari Products Limited stock price fell by -2.59% on the last day (Tuesday, 7th May 2024) from ₹129.55 to ₹126.20. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 3.59% from a day low at ₹125.40 to a day high of ₹129.90. The price has fallen in 5 of the last 10 days and is down by -3.41% for this period. 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 -6 thousand shares and in total, 6 thousand shares were bought and sold for approximately ₹782.19 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -14.39% during the next 3 months and, with a 90% probability hold a price between ₹86.08 and ₹118.63 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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KOTHARIPRO.NS Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 9.98%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Kothari Products Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹132.65 and ₹126.88. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Kothari Products Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹119.25 and ₹115.05. 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, Kothari Products Limited finds support just below today's level at ₹119.25. If this is broken, then the next support from accumulated volume will be at ₹115.05 and ₹114.75.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved ₹4.50 between high and low, or 3.59%. For the last week the stock has had daily average volatility of 3.94%.
Our recommended stop-loss: ₹121.00 (-4.12%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 36 days ago.)
Trading Expectations (KOTHARIPRO.NS) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Kothari Products Limited to open at ₹127.17, and during the day (based on 14 day Average True Range), to move between ₹120.49 and ₹131.91, which gives a possible trading interval of +/-₹5.71 (+/-4.52%) up or down from last closing price. If Kothari Products Limited takes out the full calculated possible swing range there will be an estimated 9.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹126.90 (0.55%) than the support at ₹119.25 (5.51%), 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 Kothari Products Limited stock A Buy?
Kothari Products Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.857 Hold/Accumulate Unchanged
Predicted Opening Price for Kothari Products Limited of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| ₹127.17 ( 0.766%) | ₹126.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KOTHARIPRO.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 131.67 | 4.33 % | |
| R2 | 129.95 | 2.97 % | ||
| R1 | 128.89 | 2.13 % | ||
| Current price: | 126.20 | |||
| Support | S1 | 125.45 | -0.596 % | |
| S2 | 124.39 | -1.44 % | ||
| S3 | 122.67 | -2.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 137.60 | 9.03 % | |
| R2 | 135.60 | 7.45 % | ||
| R1 | 126.90 | 0.555 % | ||
| Current price | 126.20 | |||
| Support | S1 | 119.25 | -5.51% | |
| S2 | 115.05 | -8.84% | ||
| S3 | 114.75 | -9.07% |
KOTHARIPRO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 29, 2019 | Sep 12, 2019 | Oct 23, 2019 | ₹1.00 | 1.63% |
| 2 | May 26, 2018 | Sep 14, 2018 | Oct 25, 2018 | ₹1.50 | 1.47% |
| 3 | May 23, 2017 | Sep 13, 2017 | Oct 22, 2017 | ₹3.00 | 1.63% |
| 4 | Mar 09, 2016 | Mar 17, 2016 | Mar 31, 2016 | ₹3.00 | 1.87% |
| 5 | May 27, 2015 | Sep 15, 2015 | Oct 10, 2015 | ₹4.33 | 3.17% |
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