NRB Industrial Bearings Limited Stock Forecast
Volatile ride for NRB Industrial Bearings Limited stock price on Monday moving between ₹33.30 and ₹37.40
(Updated on May 06, 2024)
The NRB Industrial Bearings Limited stock price fell by -1.66% on the last day (Monday, 6th May 2024) from ₹36.15 to ₹35.55. During the last trading day the stock fluctuated 12.31% from a day low at ₹33.30 to a day high of ₹37.40. The price has been going up and down for this period, and there has been a 5.8% gain for the last 2 weeks. Volume has increased on the last day by 11 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, 26 thousand shares were bought and sold for approximately ₹909.23 thousand.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ₹36.70 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect NRB Industrial Bearings Limited stock with a 90% probability to be traded between ₹30.51 and ₹37.28 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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NIBL.NS Signals & Forecast
The NRB Industrial Bearings Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹35.81. On a fall, the stock will find some support from the long-term average at approximately ₹34.31. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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, April 12, 2024, and so far it has fallen -2.74%. 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). NRB Industrial Bearings Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for NRB Industrial Bearings Limited stock
NRB Industrial Bearings Limited finds support from accumulated volume at ₹34.30 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 ₹4.10 between high and low, or 12.31%. For the last week, the stock has had daily average volatility of 5.29%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NIBL.NS) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect NRB Industrial Bearings Limited to open at ₹35.42, and during the day (based on 14 day Average True Range), to move between ₹33.17 and ₹37.93, which gives a possible trading interval of +/-₹2.38 (+/-6.70%) up or down from last closing price. If NRB Industrial Bearings Limited takes out the full calculated possible swing range there will be an estimated 13.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹36.10 (1.55%) than the support at ₹34.30 (3.52%), 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 NRB Industrial Bearings Limited stock A Buy?
NRB Industrial Bearings Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.365 Sell Candidate Downgraded
Predicted Opening Price for NRB Industrial Bearings Limited of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ₹35.42 ( 0.375%) | ₹35.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NIBL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.52 | 11.16 % | |
| R2 | 37.95 | 6.75 % | ||
| R1 | 36.98 | 4.03 % | ||
| Current price: | 35.55 | |||
| Support | S1 | 33.85 | -4.78 % | |
| S2 | 32.88 | -7.50 % | ||
| S3 | 31.32 | -11.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.55 | 2.81 % | |
| R2 | 36.40 | 2.39 % | ||
| R1 | 36.10 | 1.55 % | ||
| Current price | 35.55 | |||
| Support | S1 | 34.30 | -3.52% | |
| S2 | 34.00 | -4.36% | ||
| S3 | 33.05 | -7.03% |
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