The New India Assurance Company Limited Stock Forecast
The New India Assurance Company Limited stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on Jun 21, 2024)
The The New India Assurance Company Limited stock price gained 0.738% on the last trading day (Friday, 21st Jun 2024), rising from ₹250.60 to ₹252.45. During the last trading day the stock fluctuated 4.94% from a day low at ₹250.85 to a day high of ₹263.25. The price has risen in 7 of the last 10 days and is up by 16.23% over the past 2 weeks. Volume fell on the last day by -194 thousand shares and in total, 368 thousand shares were bought and sold for approximately ₹92.93 million. 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 upper part of a very wide and weak 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 ₹257.03 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 2.41% during the next 3 months and, with a 90% probability hold a price between ₹206.14 and ₹263.23 at the end of this 3-month period.
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NIACL.BO Signals & Forecast
Mostly positive signals in the chart today. The The New India Assurance Company 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 ₹244.26 and ₹232.00. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 26.23%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for The New India Assurance Company Limited stock
The New India Assurance Company Limited finds support from accumulated volume at ₹250.60 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 ₹12.40 between high and low, or 4.94%. For the last week, the stock has had daily average volatility of 4.50%.
Our recommended stop-loss: ₹239.07 (-5.30%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (NIACL.BO) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect The New India Assurance Company Limited to open at ₹255.52, and during the day (based on 14 day Average True Range), to move between ₹240.26 and ₹264.64, which gives a possible trading interval of +/-₹12.19 (+/-4.83%) up or down from last closing price. If The New India Assurance Company Limited takes out the full calculated possible swing range there will be an estimated 9.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹253.20 (0.30%) than the support at ₹250.60 (0.73%), 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 The New India Assurance Company Limited stock A Buy?
The New India Assurance Company Limited holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.075 Strong Buy Candidate Upgraded
Predicted Opening Price for The New India Assurance Company Limited of Monday, June 24, 2024
Fair opening price June 24, 2024 | Current price |
---|---|
₹255.52 ( 1.21%) | ₹252.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NIACL.BO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 267.92 | 6.13% |
R2 | 263.18 | 4.25% |
R1 | 260.25 | 3.09% |
Price | 252.45 | |
S1 | 250.78 | -0.662% |
S2 | 247.85 | -1.82% |
S3 | 243.12 | -3.70% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 253.20 | 0.297% |
Price | 252.45 | |
S1 | 250.60 | -0.733% |
S2 | 244.20 | -3.27% |
S3 | 239.55 | -5.11% |
NIACL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 06, 2024 | Sep 06, 2024 | Oct 01, 2024 | ₹2.06 | 0.82% |
2 | Sep 08, 2023 | Sep 08, 2023 | Oct 22, 2023 | ₹1.93 | 1.29% |
3 | Aug 25, 2022 | Aug 25, 2022 | Oct 06, 2022 | ₹0.300 | 0.341% |
4 | Nov 29, 2017 | Nov 29, 2017 | Dec 15, 2017 | ₹3.75 | 1.37% |
FAQ
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