ntc industries limited Stock Forecast
Stronger technical forecast for ntc industries limited stock price after Friday trading.
(Updated on May 17, 2024)
The ntc industries limited stock price fell by -0.430% on the last day (Friday, 17th May 2024) from ₹127.80 to ₹127.25. During the last trading day the stock fluctuated 3.42% from a day low at ₹125.70 to a day high of ₹130.00. The price has been going up and down for this period, and there has been a 13.26% gain for the last 2 weeks. 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 -3 thousand shares and in total, 7 thousand shares were bought and sold for approximately ₹935.29 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect ntc industries limited stock with a 90% probability to be traded between ₹102.78 and ₹134.51 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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NTCIND.BO Signals & Forecast
The ntc industries 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 ₹127.25 and ₹114.90. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, May 13, 2024, and so far it has fallen -5.64%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for ntc industries limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹113.40 and ₹113.00. 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, ntc industries limited finds support just below today's level at ₹113.40. If this is broken, then the next support from accumulated volume will be at ₹113.00 and ₹111.70.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved ₹4.30 between high and low, or 3.42%. For the last week the stock has had daily average volatility of 6.45%.
Our recommended stop-loss: ₹120.07 (-5.64%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 41 days ago.)
Trading Expectations (NTCIND.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect ntc industries limited to open at ₹127.65, and during the day (based on 14 day Average True Range), to move between ₹120.68 and ₹133.82, which gives a possible trading interval of +/-₹6.57 (+/-5.16%) up or down from last closing price. If ntc industries limited takes out the full calculated possible swing range there will be an estimated 10.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹129.75 (1.96%) than the support at ₹113.40 (10.88%), 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.
Is ntc industries limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for ntc industries limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.272 Buy Candidate Upgraded
Predicted Opening Price for ntc industries limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹127.65 ( 0.314%) | ₹127.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NTCIND.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 131.95 | 3.69 % | |
| R2 | 130.31 | 2.40 % | ||
| R1 | 129.29 | 1.61 % | ||
| Current price: | 127.25 | |||
| Support | S1 | 126.01 | -0.98 % | |
| S2 | 124.99 | -1.77 % | ||
| S3 | 123.35 | -3.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 134.85 | 5.97 % | |
| R2 | 134.00 | 5.30 % | ||
| R1 | 129.75 | 1.96 % | ||
| Current price | 127.25 | |||
| Support | S1 | 113.40 | -10.88% | |
| S2 | 113.00 | -11.20% | ||
| S3 | 111.70 | -12.22% |
FAQ
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