NHPC Limited Stock Forecast
Weaker technical forecast for NHPC Limited as stock downgraded to Hold/Accumulate.
(Updated on May 21, 2024)
The NHPC Limited stock price gained 3.88% on the last trading day (Tuesday, 21st May 2024), rising from ₹99.25 to ₹103.10. During the last trading day the stock fluctuated 7.51% from a day low at ₹97.20 to a day high of ₹104.50. The price has risen in 6 of the last 10 days and is up by 6.18% 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, 207 million more shares were traded than the day before. In total, 207 million shares were bought and sold for approximately ₹21.32 billion.
The stock lies in the upper part of a wide and strong rising 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 ₹105.60 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 12.22% during the next 3 months and, with a 90% probability hold a price between ₹97.76 and ₹118.51 at the end of this 3-month period.
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NHPC.NS Signals & Forecast
The NHPC 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 ₹98.56 and ₹94.33. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 31.93%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for NHPC Limited stock
NHPC Limited finds support from accumulated volume at ₹99.25 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 ₹7.30 between high and low, or 7.51%. For the last week, the stock has had daily average volatility of 3.19%.
Our recommended stop-loss: ₹99.20 (-3.78%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 72 days ago.)
Trading Expectations (NHPC.NS) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect NHPC Limited to open at ₹101.60, and during the day (based on 14 day Average True Range), to move between ₹99.44 and ₹106.76, which gives a possible trading interval of +/-₹3.66 (+/-3.55%) up or down from last closing price. If NHPC Limited takes out the full calculated possible swing range there will be an estimated 7.11% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹99.25, some ₹3.85 (3.73%) from the current price of ₹103.10, our system finds the risk reward attractive.
Is NHPC Limited stock A Buy?
NHPC 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: 0.000 Hold/Accumulate Downgraded
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 NHPC Limited of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| ₹101.60 ( 1.45%) | ₹103.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NHPC.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 108.90 | 5.63 % | |
| R2 | 106.11 | 2.92 % | ||
| R1 | 104.39 | 1.25 % | ||
| Current price: | 103.10 | |||
| Support | S1 | 98.81 | -4.16 % | |
| S2 | 97.09 | -5.83 % | ||
| S3 | 94.30 | -8.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 103.10 | |||
| Support | S1 | 99.25 | -3.73% | |
| S2 | 85.05 | -17.51% | ||
| S3 | 78.15 | -24.20% |
NHPC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | Feb 22, 2024 | Mar 13, 2024 | ₹1.40 | 1.79% |
| 2 | Aug 22, 2023 | Aug 22, 2023 | Aug 22, 2023 | ₹0.450 | 0.90% |
| 3 | Feb 17, 2023 | Feb 17, 2023 | Feb 17, 2023 | ₹1.40 | 3.50% |
| 4 | Aug 10, 2022 | Aug 10, 2022 | Aug 10, 2022 | ₹0.500 | 1.47% |
| 5 | Feb 22, 2022 | Feb 22, 2022 | Feb 22, 2022 | ₹1.31 | 4.55% |
FAQ
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