Mangal Credit and Fincorp Limited Stock Forecast
Evaluation of Mangal Credit and Fincorp Limited stock downgraded after the last trading session.
(Updated on May 03, 2024)
The Mangal Credit and Fincorp Limited stock price fell by -2.05% on the last day (Friday, 3rd May 2024) from ₹110.00 to ₹107.75. During the last trading day the stock fluctuated 6.05% from a day low at ₹106.55 to a day high of ₹113.00. The price has been going up and down for this period, and there has been a -0.65% loss for the last 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 -48 thousand shares and in total, 35 thousand shares were bought and sold for approximately ₹3.76 million.
The stock lies in the middle of a narrow and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.35% during the next 3 months and, with a 90% probability hold a price between ₹103.07 and ₹107.45 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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MANCREDIT.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 1.65%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Mangal Credit and Fincorp Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹108.98. On a fall, the stock will find some support from the short-term average at ₹107.06. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 Mangal Credit and Fincorp Limited stock
Mangal Credit and Fincorp Limited finds support from accumulated volume at ₹107.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹6.45 between high and low, or 6.05%. For the last week the stock has had daily average volatility of 4.79%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MANCREDIT.BO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Mangal Credit and Fincorp Limited to open at ₹109.10, and during the day (based on 14 day Average True Range), to move between ₹103.82 and ₹111.68, which gives a possible trading interval of +/-₹3.93 (+/-3.65%) up or down from last closing price. If Mangal Credit and Fincorp Limited takes out the full calculated possible swing range there will be an estimated 7.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹107.25 (0.46%) than the resistance at ₹109.50 (1.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mangal Credit and Fincorp Limited stock A Buy?
Mangal Credit and Fincorp Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -3.215 Sell Candidate Downgraded
Predicted Opening Price for Mangal Credit and Fincorp Limited of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
₹109.10 ( 1.25%) | ₹107.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MANCREDIT.BO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 115.55 | 7.24 % | |
R2 | 113.09 | 4.95 % | ||
R1 | 111.56 | 3.54 % | ||
Current price: | 107.75 | |||
Support | S1 | 106.64 | -1.03 % | |
S2 | 105.11 | -2.45 % | ||
S3 | 102.65 | -4.73 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 110.00 | 2.09 % | |
R2 | 109.80 | 1.90 % | ||
R1 | 109.50 | 1.62 % | ||
Current price | 107.75 | |||
Support | S1 | 107.25 | -0.464% | |
S2 | 106.55 | -1.11% | ||
S3 | 106.20 | -1.44% |
MANCREDIT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 13, 2023 | Sep 13, 2023 | Oct 22, 2023 | ₹0.500 | 0.510% |
2 | Sep 20, 2022 | Sep 20, 2022 | Oct 29, 2022 | ₹0.500 | 0.424% |
3 | Sep 21, 2021 | Sep 21, 2021 | Oct 29, 2021 | ₹0.500 | 0.569% |
4 | Dec 22, 2020 | Dec 22, 2020 | Jan 29, 2021 | ₹0.500 | 0.86% |
5 | Sep 20, 2019 | Sep 20, 2019 | Oct 30, 2019 | ₹0.500 | 1.27% |
FAQ
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