Nile Limited Stock Forecast
Red day on Friday for Nile Limited stock after losing 1.27%
(Updated on May 17, 2024)
The Nile Limited stock price fell by -1.27% on the last day (Friday, 17th May 2024) from ₹1,328.95 to ₹1,312.05. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.90% from a day low at ₹1,301.10 to a day high of ₹1,351.90. The price has fallen in 7 of the last 10 days and is down by -5.94% for this period. Volume has increased on the last day by 1 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, 3 thousand shares were bought and sold for approximately ₹3.86 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Nile Limited stock with a 90% probability to be traded between ₹1,166.66 and ₹1,400.44 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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NILE.BO Signals & Forecast
There are few to no technical positive signals at the moment. The Nile Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹1,326.60 and ₹1,351.68. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -8.66%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Nile Limited stock
Nile Limited finds support from accumulated volume at ₹1,262.65 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹50.80 (3.90%) between high and low. For the last week, the stock has had daily average volatility of 5.11%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NILE.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Nile Limited to open at ₹1,321.68, and during the day (based on 14 day Average True Range), to move between ₹1,246.47 and ₹1,377.63, which gives a possible trading interval of +/-₹65.58 (+/-5.00%) up or down from last closing price. If Nile Limited takes out the full calculated possible swing range there will be an estimated 10.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹1,328.10 (1.22%) than the support at ₹1,262.65 (3.77%), 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 Nile Limited stock A Buy?
Nile 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.
Current score: -3.082 Sell Candidate Unchanged
Predicted Opening Price for Nile Limited of Tuesday, May 21, 2024
Fair opening price May 21, 2024 | Current price |
---|---|
₹1,321.68 ( 0.734%) | ₹1,312.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NILE.BO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,372.48 | 4.61 % | |
R2 | 1,353.08 | 3.13 % | ||
R1 | 1,341.09 | 2.21 % | ||
Current price: | 1,312.05 | |||
Support | S1 | 1,302.28 | -0.745 % | |
S2 | 1,290.29 | -1.66 % | ||
S3 | 1,270.88 | -3.14 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,484.65 | 13.15 % | |
R2 | 1,436.40 | 9.48 % | ||
R1 | 1,328.10 | 1.22 % | ||
Current price | 1,312.05 | |||
Support | S1 | 1,262.65 | -3.77% | |
S2 | 1,231.55 | -6.14% | ||
S3 | 1,205.10 | -8.15% |
FAQ
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