Mahindra Lifespace Developers Limited Stock Forecast
Mahindra Lifespace Developers Limited stock downgraded to Hold/Accumulate
(Updated on Jun 14, 2024)
The Mahindra Lifespace Developers Limited stock price fell by -0.0324% on the last day (Friday, 14th Jun 2024) from ₹618.00 to ₹617.80. During the last trading day the stock fluctuated 2.27% from a day low at ₹615.70 to a day high of ₹629.70. The price has risen in 6 of the last 10 days and is up by 7.02% over the past 2 weeks. Volume has increased on the last day by 271 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 462 thousand shares were bought and sold for approximately ₹285.46 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Mahindra Lifespace Developers Limited stock with a 90% probability to be traded between ₹556.03 and ₹673.55 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MAHLIFE.NS Signals & Forecast
The Mahindra Lifespace Developers 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 ₹602.63 and ₹600.70. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 05, 2024, and so far it has risen 11.46%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Mahindra Lifespace Developers Limited stock
Mahindra Lifespace Developers Limited finds support from accumulated volume at ₹612.30 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 ₹14.00 between high and low, or 2.27%. For the last week, the stock has had daily average volatility of 3.07%.
Our recommended stop-loss: ₹600.50 (-2.80%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 37 days ago.)
Trading Expectations (MAHLIFE.NS) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Mahindra Lifespace Developers Limited to open at ₹621.07, and during the day (based on 14 day Average True Range), to move between ₹596.42 and ₹639.18, which gives a possible trading interval of +/-₹21.38 (+/-3.46%) up or down from last closing price. If Mahindra Lifespace Developers Limited takes out the full calculated possible swing range there will be an estimated 6.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹620.20 (0.39%) than the support at ₹612.30 (0.89%), 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 Mahindra Lifespace Developers Limited stock A Buy?
Mahindra Lifespace Developers 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.385 Hold/Accumulate Downgraded
Predicted Opening Price for Mahindra Lifespace Developers Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹621.07 ( 0.529%) | ₹617.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MAHLIFE.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 635.07 | 2.79% |
| R2 | 629.72 | 1.93% |
| R1 | 626.41 | 1.39% |
| Price | 617.80 | |
| S1 | 615.72 | -0.337% |
| S2 | 612.41 | -0.87% |
| S3 | 607.07 | -1.74% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 649.75 | 5.17% |
| R2 | 641.70 | 3.87% |
| R1 | 620.20 | 0.388% |
| Price | 617.80 | |
| S1 | 612.30 | -0.89% |
| S2 | 545.95 | -11.63% |
| S3 | 534.55 | -13.48% |
MAHLIFE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 12, 2024 | Jul 12, 2024 | Aug 23, 2024 | ₹2.65 | 0.429% |
| 2 | Jul 19, 2023 | Jul 19, 2023 | Jul 19, 2023 | ₹2.30 | 0.475% |
| 3 | Jul 20, 2022 | Jul 20, 2022 | Jul 20, 2022 | ₹2.00 | 0.468% |
| 4 | Jul 19, 2022 | Jul 19, 2022 | Jul 19, 2022 | ₹2.00 | 0.460% |
| 5 | Apr 22, 2019 | Jul 18, 2019 | Aug 02, 2019 | ₹2.00 | 1.60% |
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