Mishra Dhatu Nigam Limited Stock Forecast
Mishra Dhatu Nigam Limited stock price ended at ₹473.60 on Wednesday, after gaining 0.499%.
(Updated on Jun 26, 2024)
The Mishra Dhatu Nigam Limited stock price gained 0.499% on the last trading day (Wednesday, 26th Jun 2024), rising from ₹471.25 to ₹473.60. During the last trading day the stock fluctuated 4.22% from a day low at ₹464.05 to a day high of ₹483.65. The price has risen in 7 of the last 10 days and is up by 9.66% over the past 2 weeks. Volume fell on the last day by -3 million shares and in total, 2 million shares were bought and sold for approximately ₹988.53 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 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 9.74% during the next 3 months and, with a 90% probability hold a price between ₹428.75 and ₹555.30 at the end of this 3-month period.
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MIDHANI.NS Signals & Forecast
Mostly positive signals in the chart today. The Mishra Dhatu Nigam 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 ₹464.60 and ₹443.96. 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 24.45%. 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 Mishra Dhatu Nigam Limited stock
Mishra Dhatu Nigam Limited finds support from accumulated volume at ₹471.25 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 ₹19.60 between high and low, or 4.22%. For the last week, the stock has had daily average volatility of 3.92%.
The Mishra Dhatu Nigam Limited stock is extremely overbought on RSI14 (94). This increases the short-term risk substantially.
Our recommended stop-loss: ₹461.19 (-2.62%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 94 and this increases the risk substantially. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (MIDHANI.NS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Mishra Dhatu Nigam Limited to open at ₹473.77, and during the day (based on 14 day Average True Range), to move between ₹451.76 and ₹495.44, which gives a possible trading interval of +/-₹21.84 (+/-4.61%) up or down from last closing price. If Mishra Dhatu Nigam Limited takes out the full calculated possible swing range there will be an estimated 9.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹471.25 (0.50%) than the resistance at ₹479.65 (1.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mishra Dhatu Nigam Limited stock A Buy?
Mishra Dhatu Nigam Limited holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 7.072 Strong Buy Candidate Unchanged
Predicted Opening Price for Mishra Dhatu Nigam Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₹473.77 ( 0.0352%) | ₹473.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MIDHANI.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 493.37 | 4.17% |
| R2 | 485.88 | 2.59% |
| R1 | 481.25 | 1.62% |
| Price | 473.60 | |
| S1 | 466.28 | -1.55% |
| S2 | 461.65 | -2.52% |
| S3 | 454.17 | -4.10% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 487.90 | 3.02% |
| R2 | 481.85 | 1.74% |
| R1 | 479.65 | 1.28% |
| Price | 473.60 | |
| S1 | 471.25 | -0.496% |
| S2 | 461.40 | -2.58% |
| S3 | 459.95 | -2.88% |
MIDHANI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 22, 2024 | Mar 22, 2024 | Apr 13, 2024 | ₹1.41 | 0.333% |
| 2 | Sep 22, 2023 | Sep 22, 2023 | Oct 29, 2023 | ₹1.67 | 0.414% |
| 3 | Mar 23, 2023 | Mar 23, 2023 | Mar 23, 2023 | ₹1.68 | 0.90% |
| 4 | Sep 21, 2022 | Sep 21, 2022 | Sep 21, 2022 | ₹1.54 | 0.690% |
| 5 | Mar 22, 2022 | Mar 22, 2022 | Mar 22, 2022 | ₹1.56 | 0.93% |
FAQ
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