Nahar Poly Films Limited Stock Forecast
A very strong day for Nahar Poly Films Limited stock price on Friday
(Updated on Jun 14, 2024)
The Nahar Poly Films Limited stock price gained 6.97% on the last trading day (Friday, 14th Jun 2024), rising from ₹210.25 to ₹224.90. It has now gained 8 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 7.65% from a day low at ₹210.50 to a day high of ₹226.60. The price has risen in 8 of the last 10 days and is up by 21.47% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 16 thousand more shares were traded than the day before. In total, 24 thousand shares were bought and sold for approximately ₹5.40 million.
The stock has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. ₹213.42 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach ₹252.86 sometime during the next 3 months.
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NAHARPOLY.BO Signals & Forecast
The Nahar Poly Films 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 ₹201.85 and ₹194.15. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 29.36%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Nahar Poly Films Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹203.25 and ₹186.70. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Nahar Poly Films Limited finds support just below today's level at ₹203.25. If this is broken, then the next support from accumulated volume will be at ₹186.70 and ₹186.30.
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 ₹16.10 between high and low, or 7.65%. For the last week, the stock has had daily average volatility of 4.30%.
Since the Nahar Poly Films Limited has been rising for 8 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: ₹216.98 (-3.52%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 35 days ago.)
Trading Expectations (NAHARPOLY.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Nahar Poly Films Limited to open at ₹220.67, and during the day (based on 14 day Average True Range), to move between ₹216.90 and ₹232.90, which gives a possible trading interval of +/-₹8.00 (+/-3.56%) up or down from last closing price. If Nahar Poly Films Limited takes out the full calculated possible swing range there will be an estimated 7.11% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹203.25, some ₹21.65 (9.63%) from the current price of ₹224.90, our system finds the risk reward attractive.
Is Nahar Poly Films Limited stock A Buy?
Nahar Poly Films 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 Nahar Poly Films Limited of Tuesday, June 18, 2024
Fair opening price June 18, 2024 | Current price |
---|---|
₹220.67 ( 1.88%) | ₹224.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NAHARPOLY.BO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 236.77 | 5.28% |
R2 | 230.62 | 2.54% |
R1 | 226.82 | 0.85% |
Price | 224.90 | |
S1 | 214.52 | -4.62% |
S2 | 210.72 | -6.31% |
S3 | 204.57 | -9.04% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 0 | - |
Price | 224.90 | |
S1 | 203.25 | -9.63% |
S2 | 186.70 | -16.99% |
S3 | 186.30 | -17.16% |
NAHARPOLY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 08, 2023 | Sep 08, 2023 | Oct 25, 2023 | ₹1.50 | 0.692% |
2 | Aug 11, 2022 | Aug 11, 2022 | Sep 10, 2022 | ₹2.50 | 0.683% |
3 | Aug 31, 2017 | Aug 31, 2017 | Oct 26, 2017 | ₹0.500 | 0.91% |
4 | Sep 08, 2016 | Sep 08, 2016 | Sep 08, 2016 | ₹0.500 | 1.00% |
5 | Sep 18, 2012 | Sep 18, 2012 | Sep 18, 2012 | ₹0.500 | 2.29% |
FAQ
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