Lime Chemicals Limited Stock Forecast
Lime Chemicals Limited stock downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on Jun 25, 2024)
The Lime Chemicals Limited stock price fell by -2.05% on the last day (Tuesday, 25th Jun 2024) from ₹27.80 to ₹27.23. During the last trading day the stock fluctuated 3.76% from a day low at ₹26.62 to a day high of ₹27.62. The price has risen in 5 of the last 10 days and is up by 0.67% over the past 2 weeks. 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 -873 shares and in total, 3 thousand shares were bought and sold for approximately ₹87.63 thousand.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹27.76 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -7.74% during the next 3 months and, with a 90% probability hold a price between ₹22.46 and ₹25.61 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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LIMECHM.BO Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Lime Chemicals 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 ₹27.48. On a fall, the stock will find some support from the short-term average at ₹27.19. 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. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -2.05%. Further fall is indicated until a new bottom pivot has been found. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Lime Chemicals Limited stock
Lime Chemicals Limited finds support from accumulated volume at ₹27.20 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹1.00 between high and low, or 3.76%. For the last week the stock has had daily average volatility of 4.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LIMECHM.BO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Lime Chemicals Limited to open at ₹27.16, and during the day (based on 14 day Average True Range), to move between ₹25.17 and ₹29.29, which gives a possible trading interval of +/-₹2.06 (+/-7.55%) up or down from last closing price. If Lime Chemicals Limited takes out the full calculated possible swing range there will be an estimated 15.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹27.20 (0.11%) than the resistance at ₹27.84 (2.24%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Lime Chemicals Limited stock A Buy?
Lime Chemicals Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.931 Sell Candidate Downgraded
Predicted Opening Price for Lime Chemicals Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹27.16 ( 0.269%) | ₹27.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LIMECHM.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 28.16 | 3.40% |
| R2 | 27.77 | 2.00% |
| R1 | 27.54 | 1.13% |
| Price | 27.23 | |
| S1 | 26.77 | -1.67% |
| S2 | 26.54 | -2.54% |
| S3 | 26.16 | -3.94% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 29.07 | 6.76% |
| R2 | 28.79 | 5.73% |
| R1 | 27.84 | 2.24% |
| Price | 27.23 | |
| S1 | 27.20 | -0.110% |
| S2 | 25.92 | -4.81% |
| S3 | 24.91 | -8.52% |
LIMECHM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 25, 2006 | Sep 25, 2006 | Sep 25, 2006 | ₹1.20 | 0% |
| 2 | Sep 21, 2005 | Sep 21, 2005 | Sep 21, 2005 | ₹1.20 | 0% |
FAQ
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