Lumax Auto Technologies Limited Stock Forecast
Lumax Auto Technologies Limited stock price ended at ₹477.35 on Friday, after losing 1.03%.
(Updated on May 03, 2024)
The Lumax Auto Technologies Limited stock price fell by -1.03% on the last day (Friday, 3rd May 2024) from ₹482.30 to ₹477.35. During the last trading day the stock fluctuated 2.73% from a day low at ₹471.00 to a day high of ₹483.85. The price has fallen in 6 of the last 10 days but is still up by 4.4% 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 -6 thousand shares and in total, 6 thousand shares were bought and sold for approximately ₹2.67 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 12.61% during the next 3 months and, with a 90% probability hold a price between ₹496.30 and ₹579.45 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.
LUMAXTECH.BO Signals & Forecast
The Lumax Auto Technologies Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹482.59. On a fall, the stock will find some support from the long-term average at approximately ₹467.85. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -3.63%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Lumax Auto Technologies Limited stock
Lumax Auto Technologies Limited finds support from accumulated volume at ₹476.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ₹12.85 (2.73%) between high and low. For the last week, the stock has had daily average volatility of 3.23%.
Our recommended stop-loss: ₹457.91 (-4.07%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (LUMAXTECH.BO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Lumax Auto Technologies Limited to open at ₹477.40, and during the day (based on 14 day Average True Range), to move between ₹458.51 and ₹496.19, which gives a possible trading interval of +/-₹18.84 (+/-3.95%) up or down from last closing price. If Lumax Auto Technologies Limited takes out the full calculated possible swing range there will be an estimated 7.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹476.25 (0.23%) than the resistance at ₹480.90 (0.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Lumax Auto Technologies Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Lumax Auto Technologies Limited stock to perform well in the short-term.
Current score: 1.002 Buy Candidate Unchanged
Predicted Opening Price for Lumax Auto Technologies Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹477.40 ( 0.0105%) | ₹477.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LUMAXTECH.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 490.25 | 2.70 % | |
| R2 | 485.34 | 1.67 % | ||
| R1 | 482.31 | 1.04 % | ||
| Current price: | 477.35 | |||
| Support | S1 | 472.49 | -1.02 % | |
| S2 | 469.46 | -1.65 % | ||
| S3 | 464.55 | -2.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 495.35 | 3.77 % | |
| R2 | 484.05 | 1.40 % | ||
| R1 | 480.90 | 0.744 % | ||
| Current price | 477.35 | |||
| Support | S1 | 476.25 | -0.230% | |
| S2 | 447.15 | -6.33% | ||
| S3 | 415.15 | -13.03% |
LUMAXTECH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 10, 2023 | Aug 10, 2023 | Sep 20, 2023 | ₹4.50 | 1.22% |
| 2 | Jul 08, 2022 | Jul 08, 2022 | Aug 20, 2022 | ₹3.50 | 1.47% |
| 3 | Mar 17, 2016 | Mar 17, 2016 | Mar 17, 2016 | ₹4.70 | 8.48% |
| 4 | Aug 12, 2015 | Aug 12, 2015 | Aug 12, 2015 | ₹7.00 | 12.74% |
| 5 | Jul 15, 2014 | Jul 15, 2014 | Jul 15, 2014 | ₹6.00 | 19.35% |
FAQ
Click here for our free guide on how to buy Lumax Auto Technologies Limited Stock.
