NACL Industries Limited Stock Forecast
NACL Industries Limited stock downgraded to Hold/Accumulate
(Updated on Apr 26, 2024)
The NACL Industries Limited stock price gained 0.93% on the last trading day (Friday, 26th Apr 2024), rising from ₹64.60 to ₹65.20. During the last trading day the stock fluctuated 2.26% from a day low at ₹64.20 to a day high of ₹65.65. The price has been going up and down for this period, and there has been a 3.41% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 25 thousand more shares were traded than the day before. In total, 99 thousand shares were bought and sold for approximately ₹6.46 million.
Given the current short-term trend, the stock is expected to fall -18.89% during the next 3 months and, with a 90% probability hold a price between ₹41.73 and ₹52.88 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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NACLIND.NS Signals & Forecast
The NACL Industries 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 ₹63.69 and ₹62.14. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 15.91%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for NACL Industries Limited stock
NACL Industries Limited finds support from accumulated volume at ₹62.05 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 ₹1.45 between high and low, or 2.26%. For the last week, the stock has had daily average volatility of 2.94%.
Our recommended stop-loss: ₹61.60 (-5.52%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (NACLIND.NS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect NACL Industries Limited to open at ₹65.02, and during the day (based on 14 day Average True Range), to move between ₹62.84 and ₹67.56, which gives a possible trading interval of +/-₹2.36 (+/-3.62%) up or down from last closing price. If NACL Industries Limited takes out the full calculated possible swing range there will be an estimated 7.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹62.05 (4.83%) than the resistance at ₹70.80 (8.59%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is NACL Industries Limited stock A Buy?
NACL Industries 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: 0.502 Hold/Accumulate Downgraded
Predicted Opening Price for NACL Industries Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ₹65.02 ( 0.281%) | ₹65.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NACLIND.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 66.47 | 1.94 % | |
| R2 | 65.91 | 1.09 % | ||
| R1 | 65.57 | 0.568 % | ||
| Current price: | 65.20 | |||
| Support | S1 | 64.46 | -1.13 % | |
| S2 | 64.12 | -1.66 % | ||
| S3 | 63.57 | -2.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 73.80 | 13.19 % | |
| R2 | 72.85 | 11.73 % | ||
| R1 | 70.80 | 8.59 % | ||
| Current price | 65.20 | |||
| Support | S1 | 62.05 | -4.83% | |
| S2 | 60.75 | -6.83% | ||
| S3 | 56.50 | -13.34% |
NACLIND Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 08, 2023 | Sep 08, 2023 | Sep 08, 2023 | ₹0.250 | 0.307% |
| 2 | Feb 10, 2023 | Feb 10, 2023 | Feb 10, 2023 | ₹0.150 | 0.155% |
| 3 | Nov 01, 2022 | Nov 01, 2022 | Nov 01, 2022 | ₹0.300 | 0.365% |
| 4 | Sep 15, 2022 | Sep 15, 2022 | Sep 15, 2022 | ₹0.150 | 0.188% |
| 5 | Feb 10, 2022 | Feb 10, 2022 | Feb 10, 2022 | ₹0.150 | 0.174% |
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