Linde India Limited Stock Forecast
Green day on Friday for Linde India Limited
(Updated on May 17, 2024)
The Linde India Limited stock price gained 4.50% on the last trading day (Friday, 17th May 2024), rising from ₹8,991.00 to ₹9,395.65. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 4.78% from a day low at ₹9,035.00 to a day high of ₹9,467.15. The price has risen in 7 of the last 10 days and is up by 13.44% over the past 2 weeks. Volume fell on the last day by -4 thousand shares and in total, 10 thousand shares were bought and sold for approximately ₹97.94 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.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ₹9,140.01, a level that may pose a second chance to hit a runner. According to fan-theory ₹10,335.03 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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LINDEINDIA.BO Signals & Forecast
The Linde India 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 ₹8,393.39 and ₹7,568.96. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 23.95%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Linde India Limited stock
Linde India Limited finds support from accumulated volume at ₹8,991.00 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 ₹432.15 between high and low, or 4.78%. For the last week, the stock has had daily average volatility of 6.12%.
Since the Linde India Limited has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: ₹9,096.87 (-3.18%) (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 (LINDEINDIA.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Linde India Limited to open at ₹9,299.27, and during the day (based on 14 day Average True Range), to move between ₹8,993.74 and ₹9,797.56, which gives a possible trading interval of +/-₹401.91 (+/-4.28%) up or down from last closing price. If Linde India Limited takes out the full calculated possible swing range there will be an estimated 8.56% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹8,991.00, some ₹404.65 (4.31%) from the current price of ₹9,395.65, our system finds the risk reward attractive.
Is Linde India Limited stock A Buy?
Linde India Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Linde India Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹9,299.27 ( 1.03%) | ₹9,395.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LINDEINDIA.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9,731.42 | 3.57 % | |
| R2 | 9,566.34 | 1.82 % | ||
| R1 | 9,464.35 | 0.731 % | ||
| Current price: | 9,395.65 | |||
| Support | S1 | 9,134.19 | -2.78 % | |
| S2 | 9,032.20 | -3.87 % | ||
| S3 | 8,867.12 | -5.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 9,395.65 | |||
| Support | S1 | 8,991.00 | -4.31% | |
| S2 | 8,397.00 | -10.63% | ||
| S3 | 7,237.35 | -22.97% |
LINDEINDIA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 10, 2023 | Aug 10, 2023 | Sep 16, 2023 | ₹12.00 | 0.203% |
| 2 | Jun 01, 2022 | Jun 01, 2022 | Jul 23, 2022 | ₹13.50 | 0.379% |
| 3 | Apr 07, 2017 | Apr 07, 2017 | May 18, 2017 | ₹0.750 | 0.170% |
| 4 | May 06, 2016 | May 06, 2016 | May 06, 2016 | ₹0.750 | 0.284% |
| 5 | Apr 30, 2015 | Apr 30, 2015 | Apr 30, 2015 | ₹1.50 | 0.385% |
FAQ
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