New Delhi Television Limited Stock Forecast
On Thursday, New Delhi Television Limited stock price gained an impressive 6.09%
(Updated on Apr 25, 2024)
The New Delhi Television Limited stock price gained 6.09% on the last trading day (Thursday, 25th Apr 2024), rising from ₹220.75 to ₹234.20. During the last trading day the stock fluctuated 9.32% from a day low at ₹219.00 to a day high of ₹239.40. The price has risen in 6 of the last 10 days and is up by 3.81% 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, 123 thousand more shares were traded than the day before. In total, 146 thousand shares were bought and sold for approximately ₹34.18 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹234.30 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -22.00% during the next 3 months and, with a 90% probability hold a price between ₹143.36 and ₹182.75 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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NDTV.BO Signals & Forecast
The New Delhi Television Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹221.30 and ₹226.17. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 20, 2024, and so far it has risen 12.52%. 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 New Delhi Television Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹221.60 and ₹211.40. 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, New Delhi Television Limited finds support just below today's level at ₹221.60. If this is broken, then the next support from accumulated volume will be at ₹211.40 and ₹211.30.
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 ₹20.40 between high and low, or 9.32%. For the last week, the stock has had daily average volatility of 3.79%.
Our recommended stop-loss: ₹221.06 (-5.61%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (NDTV.BO) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect New Delhi Television Limited to open at ₹230.87, and during the day (based on 14 day Average True Range), to move between ₹224.90 and ₹243.50, which gives a possible trading interval of +/-₹9.30 (+/-3.97%) up or down from last closing price. If New Delhi Television Limited takes out the full calculated possible swing range there will be an estimated 7.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹221.60 (5.38%) than the resistance at ₹248.45 (6.08%), 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
New Delhi Television Limited will release earnings BMO on Friday, April 26, 2024. We will update the financials statements for New Delhi Television Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.34% in the first trading day after earnings release.
Is New Delhi Television Limited stock A Buy?
New Delhi Television 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
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 New Delhi Television Limited of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| ₹230.87 ( 1.42%) | ₹234.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NDTV.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 251.27 | 7.29 % | |
| R2 | 243.47 | 3.96 % | ||
| R1 | 238.66 | 1.90 % | ||
| Current price: | 234.20 | |||
| Support | S1 | 223.07 | -4.75 % | |
| S2 | 218.26 | -6.81 % | ||
| S3 | 210.47 | -10.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 271.70 | 16.01 % | |
| R2 | 261.90 | 11.83 % | ||
| R1 | 248.45 | 6.08 % | ||
| Current price | 234.20 | |||
| Support | S1 | 221.60 | -5.38% | |
| S2 | 211.40 | -9.74% | ||
| S3 | 211.30 | -9.78% |
FAQ
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