Nitin Spinners Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Nitin Spinners Limited stock price down 1.08% on Thursday
(Updated on May 02, 2024)
The Nitin Spinners Limited stock price fell by -1.08% on the last day (Thursday, 2nd May 2024) from ₹373.40 to ₹369.35. During the last trading day the stock fluctuated 3.05% from a day low at ₹366.95 to a day high of ₹378.15. The price has risen in 7 of the last 10 days and is up by 7.32% over the past 2 weeks. Volume has increased on the last day by 92 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, 92 thousand shares were bought and sold for approximately ₹33.88 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹379.36 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.52% during the next 3 months and, with a 90% probability hold a price between ₹291.83 and ₹369.81 at the end of this 3-month period.
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NITINSPIN.NS Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, May 01, 2024, and so far it has fallen -1.08%. 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. The Nitin Spinners Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹364.34 and ₹347.12. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Nitin Spinners Limited stock
Nitin Spinners Limited finds support from accumulated volume at ₹366.65 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 ₹11.20 (3.05%) between high and low. For the last week, the stock has had daily average volatility of 3.05%.
Our recommended stop-loss: ₹357.71 (-3.15%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (NITINSPIN.NS) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Nitin Spinners Limited to open at ₹371.48, and during the day (based on 14 day Average True Range), to move between ₹357.76 and ₹380.94, which gives a possible trading interval of +/-₹11.59 (+/-3.14%) up or down from last closing price. If Nitin Spinners Limited takes out the full calculated possible swing range there will be an estimated 6.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹371.00 (0.45%) than the support at ₹366.65 (0.73%), 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
Nitin Spinners Limited will release earnings BMO on Thursday, May 09, 2024. We will update the financials statements for Nitin Spinners Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.35% in the first trading day after earnings release.
Is Nitin Spinners Limited stock A Buy?
Nitin Spinners 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Nitin Spinners Limited of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| ₹371.48 ( 0.578%) | ₹369.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NITINSPIN.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 382.68 | 3.61 % | |
| R2 | 378.40 | 2.45 % | ||
| R1 | 375.76 | 1.74 % | ||
| Current price: | 369.35 | |||
| Support | S1 | 367.20 | -0.581 % | |
| S2 | 364.56 | -1.30 % | ||
| S3 | 360.28 | -2.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 389.00 | 5.32 % | |
| R2 | 381.30 | 3.24 % | ||
| R1 | 371.00 | 0.447 % | ||
| Current price | 369.35 | |||
| Support | S1 | 366.65 | -0.731% | |
| S2 | 356.00 | -3.61% | ||
| S3 | 353.60 | -4.26% |
NITINSPIN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 07, 2022 | Sep 07, 2022 | Sep 07, 2022 | ₹2.50 | 1.07% |
| 2 | Feb 10, 2022 | Feb 10, 2022 | Feb 10, 2022 | ₹1.50 | 0.475% |
| 3 | Sep 08, 2021 | Sep 08, 2021 | Sep 08, 2021 | ₹1.50 | 0.664% |
| 4 | Sep 08, 2020 | Sep 08, 2020 | Sep 08, 2020 | ₹0.600 | 1.58% |
| 5 | May 25, 2019 | Sep 12, 2019 | Sep 20, 2019 | ₹1.25 | 2.40% |
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