McLeod Russel India Limited Stock Forecast
Evaluation of McLeod Russel India Limited stock downgraded after the last trading session.
(Updated on May 24, 2024)
The McLeod Russel India Limited stock price gained 4.93% on the last trading day (Friday, 24th May 2024), rising from ₹25.35 to ₹26.60. During the last trading day the stock fluctuated 7.69% from a day low at ₹24.70 to a day high of ₹26.60. The price has fallen in 5 of the last 10 days but is still up by 12.47% over the past 2 weeks. Volume fell on the last day by -291 thousand shares and in total, 601 thousand shares were bought and sold for approximately ₹15.98 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide 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 -23.88% during the next 3 months and, with a 90% probability hold a price between ₹16.36 and ₹21.24 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
MCLEODRUSS.NS Signals & Forecast
The McLeod Russel India 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 ₹24.84 and ₹25.73. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, May 13, 2024, and so far it has risen 16.67%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for McLeod Russel India Limited stock
McLeod Russel India Limited finds support from accumulated volume at ₹25.35 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 ₹1.90 between high and low, or 7.69%. For the last week, the stock has had daily average volatility of 4.66%.
Our recommended stop-loss: ₹25.73 (-3.26%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 64 days ago.)
Trading Expectations (MCLEODRUSS.NS) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect McLeod Russel India Limited to open at ₹25.97, and during the day (based on 14 day Average True Range), to move between ₹25.65 and ₹27.55, which gives a possible trading interval of +/-₹0.95 (+/-3.57%) up or down from last closing price. If McLeod Russel India Limited takes out the full calculated possible swing range there will be an estimated 7.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹26.70 (0.38%) than the support at ₹25.35 (4.70%), 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.
Earnings coming up
McLeod Russel India Limited will release earnings BMO on Tuesday, May 28, 2024. We will update the financials statements for McLeod Russel India Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.67% in the first trading day after earnings release.
Is McLeod Russel India Limited stock A Buy?
McLeod Russel India 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: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for McLeod Russel India Limited of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| ₹25.97 ( 2.38%) | ₹26.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MCLEODRUSS.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.87 | 4.76 % | |
| R2 | 27.14 | 2.03 % | ||
| R1 | 26.69 | 0.348 % | ||
| Current price: | 26.60 | |||
| Support | S1 | 25.24 | -5.11 % | |
| S2 | 24.79 | -6.80 % | ||
| S3 | 24.07 | -9.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.90 | 8.65 % | |
| R2 | 27.00 | 1.50 % | ||
| R1 | 26.70 | 0.376 % | ||
| Current price | 26.60 | |||
| Support | S1 | 25.35 | -4.70% | |
| S2 | 24.65 | -7.33% | ||
| S3 | 23.90 | -10.15% |
MCLEODRUSS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2018 | Aug 01, 2018 | Aug 01, 2018 | ₹0.500 | 0.381% |
| 2 | May 30, 2017 | Aug 01, 2017 | Aug 01, 2017 | ₹0.250 | 0.139% |
| 3 | May 30, 2016 | Jul 26, 2016 | Sep 07, 2016 | ₹2.00 | 1.06% |
| 4 | May 28, 2015 | Jul 24, 2015 | Sep 03, 2015 | ₹3.00 | 1.88% |
| 5 | May 23, 2014 | Jul 14, 2014 | Aug 22, 2014 | ₹7.00 | 2.41% |
FAQ
Click here for our free guide on how to buy McLeod Russel India Limited Stock.
