Maithan Alloys Limited Stock Forecast
Maithan Alloys Limited stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Jun 14, 2024)
The Maithan Alloys Limited stock price gained 1.47% on the last trading day (Friday, 14th Jun 2024), rising from ₹1,227.30 to ₹1,245.40. During the last trading day the stock fluctuated 5.63% from a day low at ₹1,234.25 to a day high of ₹1,303.70. The price has risen in 8 of the last 10 days and is up by 9.47% 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, 134 thousand more shares were traded than the day before. In total, 224 thousand shares were bought and sold for approximately ₹278.50 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 20.85% during the next 3 months and, with a 90% probability hold a price between ₹1,369.34 and ₹1,678.41 at the end of this 3-month period.
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MAITHANALL.NS Signals & Forecast
The Maithan Alloys Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹1,200.96 and ₹1,225.07. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical 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 Monday, May 20, 2024, and so far it has fallen -5.33%. 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).
Support, Risk & Stop-loss for Maithan Alloys Limited stock
Maithan Alloys Limited finds support from accumulated volume at ₹1,239.55 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 ₹69.45 between high and low, or 5.63%. For the last week, the stock has had daily average volatility of 4.96%.
Our recommended stop-loss: ₹1,196.33 (-3.94%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (MAITHANALL.NS) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Maithan Alloys Limited to open at ₹1,261.12, and during the day (based on 14 day Average True Range), to move between ₹1,187.30 and ₹1,303.50, which gives a possible trading interval of +/-₹58.10 (+/-4.66%) up or down from last closing price. If Maithan Alloys Limited takes out the full calculated possible swing range there will be an estimated 9.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹1,239.55 (0.47%) than the resistance at ₹1,261.55 (1.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Maithan Alloys 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 Maithan Alloys Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.868 Buy Candidate Upgraded
Predicted Opening Price for Maithan Alloys Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹1,261.12 ( 1.26%) | ₹1,245.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MAITHANALL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,330.57 | 6.84% |
| R2 | 1,304.04 | 4.71% |
| R1 | 1,287.65 | 3.39% |
| Price | 1,245.40 | |
| S1 | 1,234.59 | -0.87% |
| S2 | 1,218.20 | -2.18% |
| S3 | 1,191.67 | -4.31% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,315.45 | 5.62% |
| R2 | 1,284.15 | 3.11% |
| R1 | 1,261.55 | 1.30% |
| Price | 1,245.40 | |
| S1 | 1,239.55 | -0.470% |
| S2 | 1,176.80 | -5.51% |
| S3 | 1,102.20 | -11.50% |
MAITHANALL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 20, 2024 | Sep 20, 2024 | Oct 28, 2024 | ₹6.00 | 0.482% |
| 2 | Sep 18, 2023 | Sep 18, 2023 | Oct 26, 2023 | ₹6.00 | 0.585% |
| 3 | Sep 20, 2022 | Sep 20, 2022 | Sep 20, 2022 | ₹6.00 | 0.589% |
| 4 | Sep 22, 2021 | Sep 22, 2021 | Sep 22, 2021 | ₹6.00 | 0.616% |
| 5 | Feb 27, 2020 | Mar 09, 2020 | Mar 13, 2020 | ₹6.00 | 1.48% |
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