The New India Assurance Company Limited Stock Forecast
The New India Assurance Company Limited stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)
The The New India Assurance Company Limited stock price fell by -0.107% on the last day (Friday, 17th May 2024) from ₹233.10 to ₹232.85. During the last trading day the stock fluctuated 1.08% from a day low at ₹231.50 to a day high of ₹234.00. The price has fallen in 6 of the last 10 days but is still up by 0.37% over the past 2 weeks. Volume has increased on the last day by 43 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 782 thousand shares were bought and sold for approximately ₹182.07 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -15.90% during the next 3 months and, with a 90% probability hold a price between ₹178.83 and ₹209.69 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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NIACL.NS Signals & Forecast
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, 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 ₹225.98 and ₹230.67. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 7.13%. Further rise is indicated until a new top pivot has been found. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more 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 ₹232.00 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 ₹2.50 between high and low, or 1.08%. For the last week, the stock has had daily average volatility of 3.65%.
Our recommended stop-loss: ₹225.07 (-3.34%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (NIACL.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect The New India Assurance Company Limited to open at ₹232.78, and during the day (based on 14 day Average True Range), to move between ₹223.38 and ₹242.32, which gives a possible trading interval of +/-₹9.47 (+/-4.07%) 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 8.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹232.00 (0.37%) than the resistance at ₹272.20 (16.90%), 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
The New India Assurance Company Limited will release earnings BMO on Wednesday, May 22, 2024.The consensus among the analysts for the expected earnings (EPS) is $9.17. We will update the financials statements for The New India Assurance Company Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.07% in the first trading day after earnings release.
Is The New India Assurance Company Limited stock A Buy?
The New India Assurance Company 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: 0.945 Hold/Accumulate Downgraded
Predicted Opening Price for The New India Assurance Company Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹232.78 ( 0.0286%) | ₹232.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NIACL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 235.28 | 1.05 % | |
| R2 | 234.33 | 0.635 % | ||
| R1 | 233.74 | 0.382 % | ||
| Current price: | 232.85 | |||
| Support | S1 | 231.83 | -0.439 % | |
| S2 | 231.24 | -0.692 % | ||
| S3 | 230.28 | -1.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 282.40 | 21.28 % | |
| R2 | 279.70 | 20.12 % | ||
| R1 | 272.20 | 16.90 % | ||
| Current price | 232.85 | |||
| Support | S1 | 232.00 | -0.365% | |
| S2 | 231.00 | -0.795% | ||
| S3 | 217.70 | -6.51% |
NIACL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 08, 2023 | Sep 08, 2023 | Sep 08, 2023 | ₹1.93 | 1.45% |
| 2 | Aug 25, 2022 | Aug 25, 2022 | Aug 25, 2022 | ₹0.300 | 0.330% |
| 3 | May 13, 2019 | Jul 18, 2019 | Sep 07, 2019 | ₹1.50 | 1.37% |
| 4 | Nov 15, 2017 | Jun 27, 2018 | Dec 15, 2017 | ₹5.00 | 1.83% |
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