NATIONAL GENERAL INDUSTRIES LT Stock Forecast
NATIONAL GENERAL INDUSTRIES LT stock price up 1.05% on Friday
(Updated on Jun 14, 2024)
The NATIONAL GENERAL INDUSTRIES LT stock price gained 1.05% on the last trading day (Friday, 14th Jun 2024), rising from ₹77.10 to ₹77.91. During the last trading day the stock fluctuated 4.00% from a day low at ₹75.00 to a day high of ₹78.00. The price has been going up and down for this period, and there has been a -7.37% loss for the last 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 553 shares were bought and sold for approximately ₹43.08 thousand. 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 lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹76.32 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.91% during the next 3 months and, with a 90% probability hold a price between ₹86.94 and ₹104.08 at the end of this 3-month period.
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NATGENI.BO Signals & Forecast
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. The NATIONAL GENERAL INDUSTRIES LT 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 ₹78.54 and ₹80.81. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -11.37%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for NATIONAL GENERAL INDUSTRIES LT stock
NATIONAL GENERAL INDUSTRIES LT finds support from accumulated volume at ₹76.08 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹3.00 between high and low, or 4.00%. For the last week the stock has had daily average volatility of 7.75%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NATGENI.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect NATIONAL GENERAL INDUSTRIES LT to open at ₹76.97, and during the day (based on 14 day Average True Range), to move between ₹72.84 and ₹82.98, which gives a possible trading interval of +/-₹5.07 (+/-6.50%) up or down from last closing price. If NATIONAL GENERAL INDUSTRIES LT takes out the full calculated possible swing range there will be an estimated 13.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹78.52 (0.78%) than the support at ₹76.08 (2.35%), 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 GENERAL INDUSTRIES LT stock A Buy?
The NATIONAL GENERAL INDUSTRIES LT stock holds several negative signals and despite the positive trend, we believe NATIONAL GENERAL INDUSTRIES LT will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.904 Sell Candidate Unchanged
Predicted Opening Price for NATIONAL GENERAL INDUSTRIES LT of Tuesday, June 18, 2024
Fair opening price June 18, 2024 | Current price |
---|---|
₹76.97 ( 1.21%) | ₹77.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NATGENI.BO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 79.97 | 2.64% |
R2 | 78.82 | 1.17% |
R1 | 78.12 | 0.264% |
Price | 77.91 | |
S1 | 75.82 | -2.68% |
S2 | 75.12 | -3.59% |
S3 | 73.97 | -5.06% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 81.00 | 3.97% |
R2 | 78.80 | 1.14% |
R1 | 78.52 | 0.783% |
Price | 77.91 | |
S1 | 76.08 | -2.35% |
S2 | 75.00 | -3.74% |
S3 | 70.49 | -9.52% |
FAQ
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