NATIONAL GENERAL INDUSTRIES LT 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
Weaker technical forecast for NATIONAL GENERAL INDUSTRIES LT as stock downgraded to Sell Candidate.
(Updated on Jun 25, 2024)
No changes to the price of NATIONAL GENERAL INDUSTRIES LT stock on the last trading day (Tuesday, 25th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at ₹77.98 to a day high of ₹77.98. The price has risen in 6 of the last 10 days but is still down by -2.51% for this period.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.50% during the next 3 months and, with a 90% probability hold a price between ₹77.94 and ₹96.04 at the end of this 3-month period.
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NATGENI.BO Signals & Forecast
There are mixed signals in the stock today. The NATIONAL GENERAL INDUSTRIES LT stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹79.90. On a fall, the stock will find some support from the short-term average at ₹76.48. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen 0%. 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 fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". 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.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved ₹0 between high and low, or 0%. For the last week the stock has had daily average volatility of 2.20%
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 Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect NATIONAL GENERAL INDUSTRIES LT to open at ₹77.98, and during the day (based on 14 day Average True Range), to move between ₹73.91 and ₹82.05, which gives a possible trading interval of +/-₹4.07 (+/-5.22%) 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 10.45% 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 (0.69%) than the support at ₹76.08 (2.44%), 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?
NATIONAL GENERAL INDUSTRIES LT holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.380 Sell Candidate Downgraded
Predicted Opening Price for NATIONAL GENERAL INDUSTRIES LT of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹77.98 ( 0%) | ₹77.98 |
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 | 77.98 | - |
| R2 | 77.98 | - |
| R1 | 77.98 | - |
| Price | 77.98 | |
| S1 | 77.98 | - |
| S2 | 77.98 | - |
| S3 | 77.98 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 81.00 | 3.87% |
| R2 | 78.80 | 1.05% |
| R1 | 78.52 | 0.692% |
| Price | 77.98 | |
| S1 | 76.08 | -2.44% |
| S2 | 75.00 | -3.82% |
| S3 | 70.49 | -9.61% |
FAQ
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