ORIENTAL RAIL INFRASTRUCTURE L Stock Forecast
Green day on Friday for ORIENTAL RAIL INFRASTRUCTURE L
(Updated on Jun 21, 2024)
The ORIENTAL RAIL INFRASTRUCTURE L stock price gained 0.498% on the last trading day (Friday, 21st Jun 2024), rising from ₹280.85 to ₹282.25. During the last trading day the stock fluctuated 4.36% from a day low at ₹272.05 to a day high of ₹283.90. The price has risen in 7 of the last 10 days and is up by 18.54% 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, 39 thousand more shares were traded than the day before. In total, 147 thousand shares were bought and sold for approximately ₹41.43 million.
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 ORIENTAL RAIL INFRASTRUCTURE L stock with a 90% probability to be traded between ₹232.39 and ₹304.51 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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ORIRAIL.BO Signals & Forecast
The ORIENTAL RAIL INFRASTRUCTURE L 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 ₹274.90 and ₹262.92. 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). 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. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -0.90%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for ORIENTAL RAIL INFRASTRUCTURE L stock
ORIENTAL RAIL INFRASTRUCTURE L finds support from accumulated volume at ₹271.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹11.85 between high and low, or 4.36%. For the last week, the stock has had daily average volatility of 5.02%.
Our recommended stop-loss: ₹271.36 (-3.86%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (ORIRAIL.BO) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect ORIENTAL RAIL INFRASTRUCTURE L to open at ₹279.40, and during the day (based on 14 day Average True Range), to move between ₹268.92 and ₹295.58, which gives a possible trading interval of +/-₹13.33 (+/-4.72%) up or down from last closing price. If ORIENTAL RAIL INFRASTRUCTURE L takes out the full calculated possible swing range there will be an estimated 9.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹284.80 (0.90%) than the support at ₹271.60 (3.77%), 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 ORIENTAL RAIL INFRASTRUCTURE L 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 ORIENTAL RAIL INFRASTRUCTURE L stock to perform well in the short-term period.
Current score: 1.765 Buy Candidate Unchanged
Predicted Opening Price for ORIENTAL RAIL INFRASTRUCTURE L of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ₹279.40 ( 1.01%) | ₹282.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ORIRAIL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 291.25 | 3.19% |
| R2 | 286.72 | 1.58% |
| R1 | 283.93 | 0.594% |
| Price | 282.25 | |
| S1 | 274.87 | -2.61% |
| S2 | 272.08 | -3.60% |
| S3 | 267.55 | -5.21% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 299.25 | 6.02% |
| R2 | 293.40 | 3.95% |
| R1 | 284.80 | 0.90% |
| Price | 282.25 | |
| S1 | 271.60 | -3.77% |
| S2 | 264.85 | -6.16% |
| S3 | 240.10 | -14.93% |
ORIRAIL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 19, 2022 | Sep 19, 2022 | Oct 27, 2022 | ₹0.250 | 0% |
| 2 | Sep 06, 2021 | Sep 06, 2021 | Oct 14, 2021 | ₹0.200 | 0% |
| 3 | Sep 15, 2020 | Sep 15, 2020 | Oct 24, 2020 | ₹0.200 | 0% |
| 4 | Sep 09, 2019 | Sep 09, 2019 | Oct 19, 2019 | ₹0.200 | 0% |
| 5 | Aug 14, 2018 | Aug 14, 2018 | Sep 22, 2018 | ₹0.200 | 0% |
FAQ
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