N R Agarwal Industries Ltd Stock Forecast
N R Agarwal Industries Ltd stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Apr 23, 2024)
The N R Agarwal Industries Ltd stock price fell by -0.93% on the last day (Tuesday, 23rd Apr 2024) from ₹482.15 to ₹477.65. During the last trading day the stock fluctuated 2.31% from a day low at ₹475.00 to a day high of ₹485.95. The price has fallen in 6 of the last 10 days and is down by -0.75% 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 -118 shares and in total, 4 thousand shares were bought and sold for approximately ₹1.74 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 ₹492.91 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 -2.68% during the next 3 months and, with a 90% probability hold a price between ₹370.17 and ₹479.69 at the end of this 3-month period.
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NRAIL.NS Signals & Forecast
The N R Agarwal Industries Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹481.30. On a fall, the stock will find some support from the long-term average at approximately ₹456.33. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -3.46%. 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 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 N R Agarwal Industries Ltd stock
N R Agarwal Industries Ltd finds support from accumulated volume at ₹468.35 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 ₹10.95 between high and low, or 2.31%. For the last week, the stock has had daily average volatility of 3.67%.
Our recommended stop-loss: ₹455.25 (-4.69%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (NRAIL.NS) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect N R Agarwal Industries Ltd to open at ₹479.53, and during the day (based on 14 day Average True Range), to move between ₹456.38 and ₹498.92, which gives a possible trading interval of +/-₹21.27 (+/-4.45%) up or down from last closing price. If N R Agarwal Industries Ltd takes out the full calculated possible swing range there will be an estimated 8.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹468.35 (1.95%) than the resistance at ₹487.00 (1.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is N R Agarwal Industries Ltd stock A Buy?
N R Agarwal Industries Ltd 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.090 Hold/Accumulate Upgraded
Predicted Opening Price for N R Agarwal Industries Ltd of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| ₹479.53 ( 0.394%) | ₹477.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NRAIL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 490.48 | 2.69 % | |
| R2 | 486.30 | 1.81 % | ||
| R1 | 483.72 | 1.27 % | ||
| Current price: | 477.65 | |||
| Support | S1 | 475.35 | -0.481 % | |
| S2 | 472.77 | -1.02 % | ||
| S3 | 468.58 | -1.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 501.40 | 4.97 % | |
| R2 | 489.05 | 2.39 % | ||
| R1 | 487.00 | 1.96 % | ||
| Current price | 477.65 | |||
| Support | S1 | 468.35 | -1.95% | |
| S2 | 465.40 | -2.56% | ||
| S3 | 454.25 | -4.90% |
NRAIL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 21, 2021 | Sep 21, 2021 | Sep 21, 2021 | ₹1.00 | 0.323% |
| 2 | May 21, 2019 | Sep 06, 2019 | Oct 05, 2019 | ₹4.00 | 1.71% |
| 3 | May 14, 2018 | Sep 18, 2018 | Oct 28, 2018 | ₹3.00 | 0.612% |
| 4 | May 19, 2017 | Sep 12, 2017 | Oct 20, 2017 | ₹2.00 | 0.738% |
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