The Phoenix Mills Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
The Phoenix Mills Limited stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)
The The Phoenix Mills Limited stock price gained 3.58% on the last trading day (Tuesday, 30th Apr 2024), rising from ₹3,042.85 to ₹3,151.65. During the last trading day the stock fluctuated 5.18% from a day low at ₹3,044.30 to a day high of ₹3,202.00. The price has been going up and down for this period, and there has been a 4.93% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 324 thousand more shares were traded than the day before. In total, 566 thousand shares were bought and sold for approximately ₹1.78 billion.
The stock lies in the upper part of a wide and strong 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 ₹3,222.29 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 17.82% during the next 3 months and, with a 90% probability hold a price between ₹3,231.41 and ₹3,796.42 at the end of this 3-month period.
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PHOENIXLTD.NS Signals & Forecast
The The Phoenix Mills 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 ₹3,128.56 and ₹2,880.84. A breakdown below any of these levels will issue sell signals. 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 Wednesday, April 24, 2024, and so far it has fallen -1.20%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for The Phoenix Mills Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹2,864.50 and ₹2,725.05. 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, The Phoenix Mills Limited finds support just below today's level at ₹2,864.50. If this is broken, then the next support from accumulated volume will be at ₹2,725.05 and ₹2,646.85.
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 ₹157.70 between high and low, or 5.18%. For the last week, the stock has had daily average volatility of 4.21%.
Our recommended stop-loss: ₹3,022.35 (-4.10%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (PHOENIXLTD.NS) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect The Phoenix Mills Limited to open at ₹3,132.65, and during the day (based on 14 day Average True Range), to move between ₹3,010.36 and ₹3,292.94, which gives a possible trading interval of +/-₹141.29 (+/-4.48%) up or down from last closing price. If The Phoenix Mills Limited takes out the full calculated possible swing range there will be an estimated 8.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹3,156.15 (0.14%) than the support at ₹2,864.50 (9.11%), 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 The Phoenix Mills 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 The Phoenix Mills 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: 4.333 Buy Candidate Upgraded
Predicted Opening Price for The Phoenix Mills Limited of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| ₹3,132.65 ( 0.603%) | ₹3,151.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PHOENIXLTD.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,290.35 | 4.40 % | |
| R2 | 3,230.11 | 2.49 % | ||
| R1 | 3,192.89 | 1.31 % | ||
| Current price: | 3,151.65 | |||
| Support | S1 | 3,072.41 | -2.51 % | |
| S2 | 3,035.19 | -3.70 % | ||
| S3 | 2,974.95 | -5.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,166.45 | 0.470 % | |
| R2 | 3,162.85 | 0.355 % | ||
| R1 | 3,156.15 | 0.143 % | ||
| Current price | 3,151.65 | |||
| Support | S1 | 2,864.50 | -9.11% | |
| S2 | 2,725.05 | -13.54% | ||
| S3 | 2,646.85 | -16.02% |
PHOENIXLTD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 12, 2022 | Sep 12, 2022 | Sep 12, 2022 | ₹2.40 | 0.170% |
| 2 | Sep 16, 2021 | Sep 16, 2021 | Sep 16, 2021 | ₹1.00 | 0.115% |
| 3 | May 15, 2019 | Sep 17, 2019 | Sep 24, 2019 | ₹3.00 | 0.422% |
| 4 | May 08, 2018 | Sep 11, 2018 | Oct 18, 2018 | ₹2.60 | 0.461% |
| 5 | May 10, 2017 | Sep 18, 2017 | Oct 25, 2017 | ₹2.40 | 0.446% |
FAQ
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