Mangalore Chemicals & Fertilizers Ltd Stock Forecast
Mangalore Chemicals & Fertilizers Ltd stock price ended at ₹126.12 on Tuesday, after losing 2.98%.
(Updated on Jun 25, 2024)
The Mangalore Chemicals & Fertilizers Ltd stock price fell by -2.98% on the last day (Tuesday, 25th Jun 2024) from ₹130.00 to ₹126.12. During the last trading day the stock fluctuated 4.13% from a day low at ₹125.80 to a day high of ₹131.00. The price has risen in 7 of the last 10 days and is up by 7.81% 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 -1 million shares and in total, 489 thousand shares were bought and sold for approximately ₹61.63 million.
The stock lies in the middle of a very wide and weak 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 3.18% during the next 3 months and, with a 90% probability hold a price between ₹101.05 and ₹139.02 at the end of this 3-month period.
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MANGCHEFER.NS Signals & Forecast
The Mangalore Chemicals & Fertilizers Ltd 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 ₹125.53 and ₹112.98. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -6.26%. Further fall is indicated until a new bottom pivot has been found. 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 Mangalore Chemicals & Fertilizers Ltd stock
Mangalore Chemicals & Fertilizers Ltd finds support from accumulated volume at ₹126.11 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹5.20 between high and low, or 4.13%. For the last week, the stock has had daily average volatility of 8.04%.
Our recommended stop-loss: ₹120.78 (-4.23%) (This stock has high daily movements and this gives high risk. The RSI14 is 76 and this increases the risk substantially. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (MANGCHEFER.NS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Mangalore Chemicals & Fertilizers Limited to open at ₹127.64, and during the day (based on 14 day Average True Range), to move between ₹120.02 and ₹132.22, which gives a possible trading interval of +/-₹6.10 (+/-4.84%) up or down from last closing price. If Mangalore Chemicals & Fertilizers Limited takes out the full calculated possible swing range there will be an estimated 9.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹126.11 (0.01%) than the resistance at ₹130.00 (3.08%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mangalore Chemicals & Fertilizers 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 Mangalore Chemicals & Fertilizers Ltd stock to perform well in the short-term.
Current score: 3.904 Buy Candidate Unchanged
Predicted Opening Price for Mangalore Chemicals & Fertilizers Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹127.64 ( 1.21%) | ₹126.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MANGCHEFER.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 132.84 | 5.33% |
| R2 | 130.85 | 3.75% |
| R1 | 129.63 | 2.78% |
| Price | 126.12 | |
| S1 | 125.65 | -0.370% |
| S2 | 124.43 | -1.34% |
| S3 | 122.44 | -2.92% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 134.54 | 6.68% |
| R1 | 130.00 | 3.08% |
| Price | 126.12 | |
| S1 | 126.11 | -0.0079% |
| S2 | 124.90 | -0.97% |
| S3 | 123.45 | -2.12% |
MANGCHEFER Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 18, 2023 | Sep 18, 2023 | Oct 26, 2023 | ₹1.50 | 1.47% |
| 2 | Sep 05, 2022 | Sep 05, 2022 | Sep 05, 2022 | ₹1.20 | 0.93% |
| 3 | Sep 08, 2021 | Sep 08, 2021 | Sep 08, 2021 | ₹1.00 | 1.34% |
| 4 | Sep 04, 2020 | Sep 04, 2020 | Sep 04, 2020 | ₹0.500 | 1.47% |
| 5 | May 14, 2019 | Aug 19, 2019 | Sep 26, 2019 | ₹1.00 | 2.86% |
FAQ
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