Neil Industries Limited Stock Forecast

High volatility in Neil Industries Limited stock price on Friday which ended trading at ₹18.40
(Updated on Jun 14, 2024)

NEIL.BO Signals & Forecast

The Neil Industries 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 ₹18.16 and ₹18.06. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 10, 2024, and so far it has fallen -5.35%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Neil Industries Limited stock

Neil Industries Limited finds support from accumulated volume at ₹17.98 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹2.31 between high and low, or 13.07%. For the last week, the stock has had daily average volatility of 10.47%.

Our recommended stop-loss: ₹17.54 (-4.67%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 27 days ago.)

Trading Expectations (NEIL.BO) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Neil Industries Limited to open at ₹18.69, and during the day (based on 14 day Average True Range), to move between ₹16.84 and ₹19.96, which gives a possible trading interval of +/-₹1.56 (+/-8.50%) up or down from last closing price. If Neil Industries Limited takes out the full calculated possible swing range there will be an estimated 17.01% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹17.98 (2.28%) than the resistance at ₹19.04 (3.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Neil Industries Limited stock A Buy?

Neil Industries 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: 0.611 Hold/Accumulate Downgraded

Predicted Opening Price for Neil Industries Limited of Tuesday, June 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.