Nitta Gelatin India Limited Stock Forecast
Stronger technical forecast for Nitta Gelatin India Limited stock price after Friday trading.
(Updated on Jun 28, 2024)
The Nitta Gelatin India Limited stock price gained 2.02% on the last trading day (Friday, 28th Jun 2024), rising from ₹818.60 to ₹835.15. During the last trading day the stock fluctuated 3.05% from a day low at ₹815.10 to a day high of ₹840.00. The price has been going up and down for this period, and there has been a 2.18% gain for the last 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 3 thousand shares were bought and sold for approximately ₹2.21 million. 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 falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -17.62% during the next 3 months and, with a 90% probability hold a price between ₹596.54 and ₹723.08 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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NITTAGELA.BO Signals & Forecast
Mostly positive signals in the chart today. The Nitta Gelatin India 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 ₹830.25 and ₹830.17. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 7.19%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Nitta Gelatin India Limited stock
Nitta Gelatin India Limited finds support from accumulated volume at ₹834.75 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 ₹24.90 (3.05%) between high and low. For the last week, the stock has had daily average volatility of 3.10%.
Our recommended stop-loss: ₹807.42 (-3.32%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 54 days ago.)
Trading Expectations (NITTAGELA.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Nitta Gelatin India Limited to open at ₹830.08, and during the day (based on 14 day Average True Range), to move between ₹803.91 and ₹866.39, which gives a possible trading interval of +/-₹31.24 (+/-3.74%) up or down from last closing price. If Nitta Gelatin India Limited takes out the full calculated possible swing range there will be an estimated 7.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹834.75 (0.05%) than the resistance at ₹876.15 (4.91%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Nitta Gelatin India Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.882 Buy Candidate Upgraded
Predicted Opening Price for Nitta Gelatin India Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹830.08 ( 0.607%) | ₹835.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NITTAGELA.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 854.98 | 2.37% |
| R2 | 845.47 | 1.24% |
| R1 | 839.60 | 0.532% |
| Price | 835.15 | |
| S1 | 820.57 | -1.75% |
| S2 | 814.70 | -2.45% |
| S3 | 805.18 | -3.59% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,013.15 | 21.31% |
| R2 | 975.70 | 16.83% |
| R1 | 876.15 | 4.91% |
| Price | 835.15 | |
| S1 | 834.75 | -0.0479% |
| S2 | 794.25 | -4.90% |
| S3 | 779.15 | -6.71% |
NITTAGELA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 28, 2023 | Jul 28, 2023 | Sep 02, 2023 | ₹7.50 | 0% |
| 2 | Jul 27, 2022 | Jul 27, 2022 | Sep 07, 2022 | ₹4.00 | 0% |
| 3 | Jul 26, 2021 | Jul 26, 2021 | Sep 02, 2021 | ₹3.00 | 0% |
| 4 | Jul 27, 2020 | Jul 27, 2020 | Aug 20, 2020 | ₹2.50 | 0% |
| 5 | Jul 25, 2019 | Jul 25, 2019 | Sep 01, 2019 | ₹1.50 | 0% |
FAQ
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