Oracle Financial Services Software Ltd Stock Forecast
Evaluation of Oracle Financial Services Software Ltd stock downgraded after the last trading session.
(Updated on May 03, 2024)
The Oracle Financial Services Software Ltd stock price gained 0.264% on the last trading day (Friday, 3rd May 2024), rising from ₹7,760.25 to ₹7,780.70. During the last trading day the stock fluctuated 1.74% from a day low at ₹7,710.00 to a day high of ₹7,844.00. The price has risen in 5 of the last 10 days and is up by 2.34% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 38 thousand more shares were traded than the day before. In total, 340 thousand shares were bought and sold for approximately ₹2.64 billion.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.99% during the next 3 months and, with a 90% probability hold a price between ₹7,544.89 and ₹9,570.48 at the end of this 3-month period.
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OFSS.NS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 8.93%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Oracle Financial Services Software Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹8,159.76. On a fall, the stock will find some support from the short-term average at ₹7,546.22. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Oracle Financial Services Software Ltd stock
Oracle Financial Services Software Ltd finds support from accumulated volume at ₹7,490.60 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 ₹134.00 between high and low, or 1.74%. For the last week, the stock has had daily average volatility of 2.09%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OFSS.NS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Oracle Financial Services Software Limited to open at ₹7,778.23, and during the day (based on 14 day Average True Range), to move between ₹7,539.12 and ₹8,022.28, which gives a possible trading interval of +/-₹241.58 (+/-3.10%) up or down from last closing price. If Oracle Financial Services Software Limited takes out the full calculated possible swing range there will be an estimated 6.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹7,490.60 (3.73%) than the resistance at ₹8,270.40 (6.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Oracle Financial Services Software Limited stock A Buy?
Oracle Financial Services Software Ltd holds several negative signals and we believe that 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: -1.335 Sell Candidate Downgraded
Predicted Opening Price for Oracle Financial Services Software Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹7,778.23 ( 0.0317%) | ₹7,780.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OFSS.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7,912.23 | 1.69 % | |
| R2 | 7,861.05 | 1.03 % | ||
| R1 | 7,829.42 | 0.626 % | ||
| Current price: | 7,780.70 | |||
| Support | S1 | 7,727.05 | -0.690 % | |
| S2 | 7,695.42 | -1.10 % | ||
| S3 | 7,644.23 | -1.75 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8,764.30 | 12.64 % | |
| R2 | 8,453.30 | 8.64 % | ||
| R1 | 8,270.40 | 6.29 % | ||
| Current price | 7,780.70 | |||
| Support | S1 | 7,490.60 | -3.73% | |
| S2 | 7,143.05 | -8.20% | ||
| S3 | 7,034.90 | -9.59% |
OFSS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 07, 2024 | May 07, 2024 | May 23, 2024 | ₹240.00 | 3.08% |
| 2 | May 09, 2023 | May 09, 2023 | May 09, 2023 | ₹225.00 | 6.55% |
| 3 | May 13, 2022 | May 13, 2022 | May 13, 2022 | ₹190.00 | 5.88% |
| 4 | May 17, 2021 | May 17, 2021 | May 17, 2021 | ₹200.00 | 5.68% |
| 5 | May 08, 2020 | May 19, 2020 | Jun 06, 2020 | ₹180.00 | 7.09% |
FAQ
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