Patanjali Foods Limited Stock Forecast
A very strong day for Patanjali Foods Limited stock price on Friday
(Updated on Jun 28, 2024)
The Patanjali Foods Limited stock price gained 5.09% on the last trading day (Friday, 28th Jun 2024), rising from ₹1,514.35 to ₹1,591.40. During the last trading day the stock fluctuated 5.38% from a day low at ₹1,523.00 to a day high of ₹1,605.00. The price has risen in 5 of the last 10 days and is up by 7.44% 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, 827 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately ₹1.89 billion.
The stock lies in the upper part of a wide and weak rising 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 ₹1,600.73 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 8.51% during the next 3 months and, with a 90% probability hold a price between ₹1,446.48 and ₹1,736.89 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
PATANJALI.NS Signals & Forecast
Mostly positive signals in the chart today. The Patanjali Foods 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 ₹1,512.26 and ₹1,455.55. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 27.91%. 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 Patanjali Foods Limited stock
Patanjali Foods Limited finds support from accumulated volume at ₹1,528.55 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 ₹82.00 between high and low, or 5.38%. For the last week, the stock has had daily average volatility of 4.72%.
Our recommended stop-loss: ₹1,536.66 (-3.44%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (PATANJALI.NS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Patanjali Foods Limited to open at ₹1,573.13, and during the day (based on 14 day Average True Range), to move between ₹1,525.64 and ₹1,657.16, which gives a possible trading interval of +/-₹65.76 (+/-4.13%) up or down from last closing price. If Patanjali Foods Limited takes out the full calculated possible swing range there will be an estimated 8.26% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹1,528.55, some ₹62.85 (3.95%) from the current price of ₹1,591.40, our system finds the risk reward attractive.
Is Patanjali Foods Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Patanjali Foods Limited 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: 3.201 Buy Candidate Upgraded
Predicted Opening Price for Patanjali Foods Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹1,573.13 ( 1.15%) | ₹1,591.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PATANJALI.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,655.13 | 4.00% |
| R2 | 1,623.81 | 2.04% |
| R1 | 1,604.46 | 0.82% |
| Price | 1,591.40 | |
| S1 | 1,541.81 | -3.12% |
| S2 | 1,522.46 | -4.33% |
| S3 | 1,491.13 | -6.30% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 1,591.40 | |
| S1 | 1,528.55 | -3.95% |
| S2 | 1,476.30 | -7.23% |
| S3 | 1,244.20 | -21.82% |
PATANJALI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Apr 11, 2024 | ₹6.00 | 0.447% |
| 2 | Sep 21, 2023 | Sep 21, 2023 | Oct 29, 2023 | ₹6.00 | 0.470% |
| 3 | Sep 23, 2022 | Sep 23, 2022 | Oct 28, 2022 | ₹5.00 | 0.349% |
| 4 | Sep 16, 2015 | Sep 16, 2015 | Sep 16, 2015 | ₹16.00 | 0.467% |
| 5 | Sep 22, 2014 | Sep 22, 2014 | Sep 22, 2014 | ₹16.00 | 0.394% |
FAQ
Click here for our free guide on how to buy Patanjali Foods Limited Stock.
