Orient Paper & Industries Ltd. Stock Forecast
Stronger technical forecast for Orient Paper & Industries Ltd. stock price after Friday trading.
(Updated on Apr 26, 2024)
The Orient Paper & Industries Ltd. stock price gained 1.11% on the last trading day (Friday, 26th Apr 2024), rising from ₹49.40 to ₹49.95. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 2.54% from a day low at ₹49.20 to a day high of ₹50.45. The price has risen in 7 of the last 10 days and is up by 8.35% 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, 207 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately ₹114.70 million.
Given the current short-term trend, the stock is expected to fall -19.15% during the next 3 months and, with a 90% probability hold a price between ₹29.92 and ₹40.38 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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ORIENTPPR.NS Signals & Forecast
Mostly positive signals in the chart today. The Orient Paper & Industries Ltd. 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 ₹46.64 and ₹44.77. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 21.98%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Orient Paper & Industries Ltd. stock
Orient Paper & Industries Ltd. finds support from accumulated volume at ₹49.85 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 ₹1.25 between high and low, or 2.54%. For the last week, the stock has had daily average volatility of 4.43%.
Since the Orient Paper & Industries Ltd. has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: ₹47.12 (-5.66%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (ORIENTPPR.NS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Orient Paper & Industries Ltd. to open at ₹49.87, and during the day (based on 14 day Average True Range), to move between ₹48.19 and ₹51.71, which gives a possible trading interval of +/-₹1.76 (+/-3.53%) up or down from last closing price. If Orient Paper & Industries Ltd. takes out the full calculated possible swing range there will be an estimated 7.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹49.85 (0.20%) than the resistance at ₹56.85 (13.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Orient Paper & Industries Ltd. will release earnings BMO on Wednesday, May 01, 2024. We will update the financials statements for Orient Paper & Industries Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.62% in the first trading day after earnings release.
Is Orient Paper & Industries Ltd. 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 Hold/Accumulate to a Buy candidate.
Current score: 2.849 Buy Candidate Upgraded
Predicted Opening Price for Orient Paper & Industries Ltd. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ₹49.87 ( 0.167%) | ₹49.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ORIENTPPR.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 51.12 | 2.34 % | |
| R2 | 50.64 | 1.38 % | ||
| R1 | 50.34 | 0.789 % | ||
| Current price: | 49.95 | |||
| Support | S1 | 49.39 | -1.12 % | |
| S2 | 49.09 | -1.71 % | ||
| S3 | 48.62 | -2.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 57.75 | 15.62 % | |
| R2 | 57.40 | 14.91 % | ||
| R1 | 56.85 | 13.81 % | ||
| Current price | 49.95 | |||
| Support | S1 | 49.85 | -0.200% | |
| S2 | 49.15 | -1.60% | ||
| S3 | 46.70 | -6.51% |
ORIENTPPR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 01, 2023 | Aug 01, 2023 | Aug 01, 2023 | ₹1.00 | 2.29% |
| 2 | Aug 02, 2022 | Aug 02, 2022 | Aug 02, 2022 | ₹0.250 | 0.87% |
| 3 | Aug 18, 2021 | Aug 18, 2021 | Aug 18, 2021 | ₹0.250 | 0.87% |
| 4 | Aug 19, 2020 | Aug 19, 2020 | Aug 19, 2020 | ₹0.500 | 2.61% |
| 5 | May 02, 2019 | Jul 10, 2019 | Aug 18, 2019 | ₹0.600 | 2.65% |
FAQ
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