Kalyani Steels Limited Stock Forecast
Stronger technical forecast for Kalyani Steels Limited stock price after Friday trading.
(Updated on May 17, 2024)
The Kalyani Steels Limited stock price gained 3.16% on the last trading day (Friday, 17th May 2024), rising from ₹820.75 to ₹846.65. During the last trading day the stock fluctuated 3.25% from a day low at ₹825.00 to a day high of ₹851.85. The price has fallen in 6 of the last 10 days and is down by -2.61% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 thousand more shares were traded than the day before. In total, 59 thousand shares were bought and sold for approximately ₹49.92 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹812.34 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -2.79% during the next 3 months and, with a 90% probability hold a price between ₹789.70 and ₹987.25 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
KSL.NS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 3.85%. Further rise is indicated until a new top pivot has been found. 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. The Kalyani Steels Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹872.54. On a fall, the stock will find some support from the short-term average at ₹833.34. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Kalyani Steels Limited stock
Kalyani Steels Limited finds support from accumulated volume at ₹840.45 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ₹26.85 between high and low, or 3.25%. For the last week, the stock has had daily average volatility of 3.64%.
Our recommended stop-loss: ₹803.80 (-5.06%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (KSL.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Kalyani Steels Limited to open at ₹841.17, and during the day (based on 14 day Average True Range), to move between ₹807.59 and ₹885.71, which gives a possible trading interval of +/-₹39.06 (+/-4.61%) up or down from last closing price. If Kalyani Steels Limited takes out the full calculated possible swing range there will be an estimated 9.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹840.45 (0.73%) than the resistance at ₹865.45 (2.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Kalyani Steels Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 1.069 Buy Candidate Upgraded
Predicted Opening Price for Kalyani Steels Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹841.17 ( 0.648%) | ₹846.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KSL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 868.02 | 2.52 % | |
| R2 | 857.76 | 1.31 % | ||
| R1 | 851.42 | 0.564 % | ||
| Current price: | 846.65 | |||
| Support | S1 | 830.91 | -1.86 % | |
| S2 | 824.57 | -2.61 % | ||
| S3 | 814.32 | -3.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,040.30 | 22.87 % | |
| R2 | 957.25 | 13.06 % | ||
| R1 | 865.45 | 2.22 % | ||
| Current price | 846.65 | |||
| Support | S1 | 840.45 | -0.732% | |
| S2 | 831.55 | -1.78% | ||
| S3 | 819.55 | -3.20% |
KSL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 22, 2022 | Jul 22, 2022 | Jul 22, 2022 | ₹10.00 | 3.30% |
| 2 | Aug 26, 2021 | Aug 26, 2021 | Aug 26, 2021 | ₹7.50 | 1.94% |
| 3 | Feb 24, 2020 | Mar 12, 2020 | Mar 28, 2020 | ₹5.00 | 4.35% |
| 4 | May 18, 2019 | Aug 16, 2019 | Sep 06, 2019 | ₹5.00 | 2.71% |
| 5 | May 18, 2018 | Aug 10, 2018 | Aug 31, 2018 | ₹5.00 | 1.71% |
FAQ
Click here for our free guide on how to buy Kalyani Steels Limited Stock.
