National Fittings Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
High volatility in National Fittings Limited stock price on Thursday which ended trading at ₹105.70
(Updated on May 30, 2024)
The National Fittings Limited stock price fell by -3.95% on the last day (Thursday, 30th May 2024) from ₹110.05 to ₹105.70. During the last trading day the stock fluctuated 11.44% from a day low at ₹104.05 to a day high of ₹115.95. The price has fallen in 6 of the last 10 days and is down by -15.88% for this period. Volume has increased on the last day by 10 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, 33 thousand shares were bought and sold for approximately ₹3.50 million.
Given the current short-term trend, the stock is expected to rise 16.88% during the next 3 months and, with a 90% probability hold a price between ₹123.54 and ₹195.48 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
NATFIT.BO Signals & Forecast
There are few to no technical positive signals at the moment. The National Fittings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹111.99 and ₹126.02. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -32.92%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 National Fittings Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹98.70 and ₹97.35. 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, National Fittings Limited finds support just below today's level at ₹98.70. If this is broken, then the next support from accumulated volume will be at ₹97.35 and ₹93.85.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹11.90 between high and low, or 11.44%. For the last week, the stock has had daily average volatility of 10.35%.
Our recommended stop-loss: ₹100.03 (-5.36%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 49 days ago.)
Trading Expectations (NATFIT.BO) For The Upcoming Trading Day Of Friday 31st
For the upcoming trading day on Friday, 31st we expect National Fittings Limited to open at ₹108.57, and during the day (based on 14 day Average True Range), to move between ₹94.93 and ₹116.47, which gives a possible trading interval of +/-₹10.77 (+/-10.19%) up or down from last closing price. If National Fittings Limited takes out the full calculated possible swing range there will be an estimated 20.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹110.05 (4.12%) than the support at ₹98.70 (6.62%), 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.
Is National Fittings Limited stock A Buy?
National Fittings Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.645 Hold/Accumulate Upgraded
Predicted Opening Price for National Fittings Limited of Friday, May 31, 2024
| Fair opening price May 31, 2024 | Current price |
|---|---|
| ₹108.57 ( 2.71%) | ₹105.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NATFIT.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 120.47 | 13.97 % | |
| R2 | 115.92 | 9.67 % | ||
| R1 | 113.11 | 7.01 % | ||
| Current price: | 105.70 | |||
| Support | S1 | 104.02 | -1.59 % | |
| S2 | 101.21 | -4.25 % | ||
| S3 | 96.67 | -8.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 116.15 | 9.89 % | |
| R2 | 111.80 | 5.77 % | ||
| R1 | 110.05 | 4.12 % | ||
| Current price | 105.70 | |||
| Support | S1 | 98.70 | -6.62% | |
| S2 | 97.35 | -7.90% | ||
| S3 | 93.85 | -11.21% |
FAQ
Click here for our free guide on how to buy National Fittings Limited Stock.
