Niyogin Fintech Limited Stock Forecast
Evaluation of Niyogin Fintech Limited stock downgraded after the last trading session.
(Updated on Apr 25, 2024)
The Niyogin Fintech Limited stock price fell by -2.96% on the last day (Thursday, 25th Apr 2024) from ₹72.33 to ₹70.19. During the last trading day the stock fluctuated 5.06% from a day low at ₹69.00 to a day high of ₹72.49. The price has fallen in 6 of the last 10 days and is down by -5.01% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -23 thousand shares and in total, 37 thousand shares were bought and sold for approximately ₹2.63 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 ₹72.11 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 -15.93% during the next 3 months and, with a 90% probability hold a price between ₹46.25 and ₹60.63 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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NIYOGIN.BO Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Niyogin Fintech 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 ₹70.74 and ₹70.40. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -5.49%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Niyogin Fintech Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹64.43 and ₹62.41. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Niyogin Fintech Limited finds support just below today's level at ₹64.43. If this is broken, then the next support from accumulated volume will be at ₹62.41 and ₹61.25.
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 ₹3.49 between high and low, or 5.06%. For the last week, the stock has had daily average volatility of 5.18%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NIYOGIN.BO) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Niyogin Fintech Limited to open at ₹70.56, and during the day (based on 14 day Average True Range), to move between ₹66.02 and ₹74.36, which gives a possible trading interval of +/-₹4.17 (+/-5.94%) up or down from last closing price. If Niyogin Fintech Limited takes out the full calculated possible swing range there will be an estimated 11.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹64.43 (8.21%) than the resistance at ₹77.03 (9.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Niyogin Fintech Limited stock A Buy?
Niyogin Fintech Limited holds several negative signals and is within a very 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.785 Sell Candidate Downgraded
Predicted Opening Price for Niyogin Fintech Limited of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| ₹70.56 ( 0.527%) | ₹70.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NIYOGIN.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 74.05 | 5.50 % | |
| R2 | 72.72 | 3.60 % | ||
| R1 | 71.89 | 2.43 % | ||
| Current price: | 70.19 | |||
| Support | S1 | 69.23 | -1.37 % | |
| S2 | 68.40 | -2.55 % | ||
| S3 | 67.07 | -4.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 84.63 | 20.57 % | |
| R2 | 80.23 | 14.30 % | ||
| R1 | 77.03 | 9.74 % | ||
| Current price | 70.19 | |||
| Support | S1 | 64.43 | -8.21% | |
| S2 | 62.41 | -11.08% | ||
| S3 | 61.25 | -12.74% |
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