NITCO Limited Stock Forecast

NITCO Limited stock price up 0.747% on Friday
(Updated on May 31, 2024)

NITCO.BO Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 0.747%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The NITCO Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹72.76 and ₹70.22. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for NITCO Limited stock

NITCO Limited finds support from accumulated volume at ₹70.00 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 ₹0.520 between high and low, or 0.747%. For the last week, the stock has had daily average volatility of 0.332%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (NITCO.BO) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect NITCO Limited to open at ₹69.93, and during the day (based on 14 day Average True Range), to move between ₹68.49 and ₹71.71, which gives a possible trading interval of +/-₹1.61 (+/-2.30%) up or down from last closing price. If NITCO Limited takes out the full calculated possible swing range there will be an estimated 4.60% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹70.00 (0.14%) than the resistance at ₹73.81 (5.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is NITCO Limited stock A Buy?

The NITCO Limited stock holds several negative signals and despite the positive trend, we believe NITCO Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -3.542 Sell Candidate Unchanged

Predicted Opening Price for NITCO Limited of Monday, June 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.