The Karnataka Bank Limited Stock Forecast
Green day on Wednesday for The Karnataka Bank Limited stock after gaining 1.63%
(Updated on Jun 19, 2024)
The The Karnataka Bank Limited stock price gained 1.63% on the last trading day (Wednesday, 19th Jun 2024), rising from ₹223.55 to ₹227.20. During the last trading day the stock fluctuated 2.63% from a day low at ₹222.15 to a day high of ₹228.00. The price has risen in 7 of the last 10 days and is up by 12.53% over the past 2 weeks. Volume fell on the last day by -93 thousand shares and in total, 243 thousand shares were bought and sold for approximately ₹55.22 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the stock is expected to fall -7.64% during the next 3 months and, with a 90% probability hold a price between ₹183.42 and ₹209.83 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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KTKBANK.BO Signals & Forecast
Mostly positive signals in the chart today. The The Karnataka Bank 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 ₹220.60 and ₹219.72. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 12.53%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for The Karnataka Bank Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹213.35 and ₹212.00. 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, The Karnataka Bank Limited finds support just below today's level at ₹213.35. If this is broken, then the next support from accumulated volume will be at ₹212.00 and ₹201.90.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹5.85 (2.63%) between high and low. For the last week, the stock has had daily average volatility of 2.06%.
Our recommended stop-loss: ₹217.57 (-4.24%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (KTKBANK.BO) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect The Karnataka Bank Limited to open at ₹225.78, and during the day (based on 14 day Average True Range), to move between ₹221.27 and ₹233.13, which gives a possible trading interval of +/-₹5.93 (+/-2.61%) up or down from last closing price. If The Karnataka Bank Limited takes out the full calculated possible swing range there will be an estimated 5.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹233.15 (2.62%) than the support at ₹213.35 (6.10%), 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 The Karnataka Bank 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.
Current score: 3.659 Buy Candidate Unchanged
Predicted Opening Price for The Karnataka Bank Limited of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| ₹225.78 ( 0.624%) | ₹227.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KTKBANK.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 231.63 | 1.95% |
| R2 | 229.40 | 0.97% |
| R1 | 228.02 | 0.360% |
| Price | 227.20 | |
| S1 | 223.55 | -1.61% |
| S2 | 222.17 | -2.21% |
| S3 | 219.93 | -3.20% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 237.65 | 4.60% |
| R2 | 236.90 | 4.27% |
| R1 | 233.15 | 2.62% |
| Price | 227.20 | |
| S1 | 213.35 | -6.10% |
| S2 | 212.00 | -6.69% |
| S3 | 201.90 | -11.14% |
KTKBANK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 22, 2023 | Aug 22, 2023 | Sep 28, 2023 | ₹5.00 | 2.01% |
| 2 | Aug 18, 2022 | Aug 18, 2022 | Sep 25, 2022 | ₹4.00 | 4.78% |
| 3 | Jul 06, 2017 | Jul 06, 2017 | Jul 24, 2017 | ₹3.64 | 2.54% |
| 4 | Jul 20, 2016 | Jul 20, 2016 | Jul 20, 2016 | ₹5.00 | 3.73% |
| 5 | Jul 08, 2015 | Jul 08, 2015 | Jul 08, 2015 | ₹5.00 | 3.84% |
FAQ
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