Lokesh Machines Limited Stock Forecast
Big movements in Lokesh Machines Limited stock price on Tuesday moving 12.52% between high and low
(Updated on Apr 16, 2024)
The Lokesh Machines Limited stock price gained 9.69% on the last trading day (Tuesday, 16th Apr 2024), rising from ₹429.75 to ₹471.40. During the last trading day the stock fluctuated 12.52% from a day low at ₹420.10 to a day high of ₹472.70. The price has risen in 6 of the last 10 days and is up by 16.24% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 295 thousand more shares were traded than the day before. In total, 407 thousand shares were bought and sold for approximately ₹191.63 million.
Given the current short-term trend, the stock is expected to rise 12.43% during the next 3 months and, with a 90% probability hold a price between ₹338.20 and ₹530.01 at the end of this 3-month period.
LOKESHMACH.NS Signals & Forecast
Mostly positive signals in the chart today. The Lokesh Machines 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 ₹446.64 and ₹360.81. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 12, 2024, and so far it has risen 67.67%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Lokesh Machines Limited stock
Lokesh Machines Limited finds support from accumulated volume at ₹448.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₹52.60 between high and low, or 12.52%. For the last week, the stock has had daily average volatility of 6.41%.
The Lokesh Machines Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: ₹455.47 (-3.38%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (LOKESHMACH.NS) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Lokesh Machines Limited to open at ₹454.73, and during the day (based on 14 day Average True Range), to move between ₹444.82 and ₹497.98, which gives a possible trading interval of +/-₹26.58 (+/-5.64%) up or down from last closing price. If Lokesh Machines Limited takes out the full calculated possible swing range there will be an estimated 11.28% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹448.25, some ₹23.15 (4.91%) from the current price of ₹471.40, our system finds the risk reward attractive.
Is Lokesh Machines Limited stock A Buy?
Lokesh Machines Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 7.344 Strong Buy Candidate Upgraded
Predicted Opening Price for Lokesh Machines Limited of Thursday, April 18, 2024
Fair opening price April 18, 2024 | Current price |
---|---|
₹454.73 ( 3.54%) | ₹471.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LOKESHMACH.NS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 507.33 | 7.62 % | |
R2 | 487.24 | 3.36 % | ||
R1 | 474.83 | 0.727 % | ||
Current price: | 471.40 | |||
Support | S1 | 434.64 | -7.80 % | |
S2 | 422.23 | -10.43 % | ||
S3 | 402.13 | -14.69 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 471.40 | |||
Support | S1 | 448.25 | -4.91% | |
S2 | 405.55 | -13.97% | ||
S3 | 370.65 | -21.37% |
LOKESHMACH Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 29, 2016 | Sep 22, 2016 | Oct 28, 2016 | ₹0.500 | 0.603% |
2 | Jun 01, 2015 | Sep 23, 2015 | Oct 28, 2015 | ₹0.500 | 0.613% |
3 | May 30, 2014 | Sep 23, 2014 | Oct 30, 2014 | ₹0.500 | 1.32% |
4 | May 27, 2013 | Sep 20, 2013 | Oct 28, 2013 | ₹0.750 | 3.83% |
5 | Aug 14, 2012 | Sep 21, 2012 | Oct 29, 2012 | ₹0.500 | 1.59% |
FAQ
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