NRB Industrial Bearings Limited Stock Forecast
NRB Industrial Bearings Limited stock price up 0.84% on Friday
(Updated on May 17, 2024)
The NRB Industrial Bearings Limited stock price gained 0.84% on the last trading day (Friday, 17th May 2024), rising from ₹35.90 to ₹36.20. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.63% from a day low at ₹35.80 to a day high of ₹37.10. The price has risen in 6 of the last 10 days and is up by 0.14% over the past 2 weeks. Volume fell on the last day by -10 thousand shares and in total, 8 thousand shares were bought and sold for approximately ₹275.34 thousand. 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 middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9.74% during the next 3 months and, with a 90% probability hold a price between ₹35.24 and ₹41.59 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
NIBL.NS Signals & Forecast
The NRB Industrial Bearings 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 ₹34.95 and ₹35.24. 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, April 12, 2024, and so far it has fallen -0.96%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for NRB Industrial Bearings Limited stock
NRB Industrial Bearings Limited finds support from accumulated volume at ₹35.15 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹1.30 between high and low, or 3.63%. For the last week the stock has had daily average volatility of 4.50%.
Our recommended stop-loss: ₹34.93 (-3.52%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 24 days ago.)
Trading Expectations (NIBL.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect NRB Industrial Bearings Limited to open at ₹36.37, and during the day (based on 14 day Average True Range), to move between ₹33.88 and ₹38.52, which gives a possible trading interval of +/-₹2.32 (+/-6.40%) 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 12.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹36.30 (0.28%) than the support at ₹35.15 (2.90%), 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.
Earnings coming up
NRB Industrial Bearings Limited will release earnings BMO on Thursday, May 23, 2024. We will update the financials statements for NRB Industrial Bearings Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.62% in the first trading day after earnings release.
Is NRB Industrial Bearings Limited stock A Buy?
NRB Industrial Bearings Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.611 Hold/Accumulate Unchanged
Predicted Opening Price for NRB Industrial Bearings Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹36.37 ( 0.460%) | ₹36.20 |
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 | 37.67 | 4.05 % | |
| R2 | 37.17 | 2.68 % | ||
| R1 | 36.86 | 1.83 % | ||
| Current price: | 36.20 | |||
| Support | S1 | 35.87 | -0.91 % | |
| S2 | 35.56 | -1.76 % | ||
| S3 | 35.07 | -3.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.55 | 0.97 % | |
| R2 | 36.40 | 0.552 % | ||
| R1 | 36.30 | 0.276 % | ||
| Current price | 36.20 | |||
| Support | S1 | 35.15 | -2.90% | |
| S2 | 34.30 | -5.25% | ||
| S3 | 34.00 | -6.08% |
FAQ
Click here for our free guide on how to buy NRB Industrial Bearings Limited Stock.
