Nahar Industrial Enterprises Limited Stock Forecast
Nahar Industrial Enterprises Limited stock downgraded to Hold/Accumulate
(Updated on Apr 24, 2024)
The Nahar Industrial Enterprises Limited stock price fell by -2.32% on the last day (Wednesday, 24th Apr 2024) from ₹133.50 to ₹130.40. During the last trading day the stock fluctuated 4.01% from a day low at ₹129.70 to a day high of ₹134.90. The price has fallen in 6 of the last 10 days but is still up by 3.12% over the past 2 weeks. Volume has increased on the last day by 5 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 63 thousand shares were bought and sold for approximately ₹8.19 million.
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 -10.75% during the next 3 months and, with a 90% probability hold a price between ₹96.77 and ₹130.39 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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NAHARINDUS.NS Signals & Forecast
The Nahar Industrial Enterprises 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 ₹128.07 and ₹124.60. 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 14.89%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Nahar Industrial Enterprises Limited stock
Nahar Industrial Enterprises Limited finds support from accumulated volume at ₹128.55 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 ₹5.20 between high and low, or 4.01%. For the last week, the stock has had daily average volatility of 4.12%.
Our recommended stop-loss: ₹125.18 (-4.01%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (NAHARINDUS.NS) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Nahar Industrial Enterprises Limited to open at ₹131.67, and during the day (based on 14 day Average True Range), to move between ₹125.32 and ₹135.48, which gives a possible trading interval of +/-₹5.08 (+/-3.90%) up or down from last closing price. If Nahar Industrial Enterprises Limited takes out the full calculated possible swing range there will be an estimated 7.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹128.55 (1.42%) than the resistance at ₹138.90 (6.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Nahar Industrial Enterprises Limited will release earnings BMO on Wednesday, May 01, 2024. We will update the financials statements for Nahar Industrial Enterprises Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.78% in the first trading day after earnings release.
Is Nahar Industrial Enterprises Limited stock A Buy?
Nahar Industrial Enterprises 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: 0.475 Hold/Accumulate Downgraded
Predicted Opening Price for Nahar Industrial Enterprises Limited of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| ₹131.67 ( 0.97%) | ₹130.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NAHARINDUS.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 136.87 | 4.96 % | |
| R2 | 134.88 | 3.44 % | ||
| R1 | 133.65 | 2.49 % | ||
| Current price: | 130.40 | |||
| Support | S1 | 129.68 | -0.552 % | |
| S2 | 128.45 | -1.49 % | ||
| S3 | 126.47 | -3.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 161.30 | 23.70 % | |
| R2 | 150.10 | 15.11 % | ||
| R1 | 138.90 | 6.52 % | ||
| Current price | 130.40 | |||
| Support | S1 | 128.55 | -1.42% | |
| S2 | 127.80 | -1.99% | ||
| S3 | 118.20 | -9.36% |
NAHARINDUS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2017 | Sep 07, 2017 | Oct 26, 2017 | ₹1.00 | 0.93% |
| 2 | May 30, 2016 | Sep 15, 2016 | Oct 30, 2016 | ₹1.00 | 0.87% |
| 3 | May 28, 2014 | Sep 18, 2014 | Oct 30, 2014 | ₹1.00 | 1.67% |
| 4 | May 30, 2013 | Sep 19, 2013 | Oct 30, 2013 | ₹1.00 | 1.92% |
| 5 | May 31, 2011 | Sep 08, 2011 | Oct 20, 2011 | ₹1.00 | 2.35% |
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