Pidilite Industries Limited Stock Forecast
Weaker technical forecast for Pidilite Industries Limited as stock downgraded to Sell Candidate.
(Updated on Apr 25, 2024)
The Pidilite Industries Limited stock price fell by -1.05% on the last day (Thursday, 25th Apr 2024) from ₹2,950.40 to ₹2,919.45. During the last trading day the stock fluctuated 1.37% from a day low at ₹2,910.40 to a day high of ₹2,950.40. The price has fallen in 6 of the last 10 days and is down by -2.69% for this period. Volume has increased on the last day by 8 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 291 thousand shares were bought and sold for approximately ₹849.40 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹2,861.84 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 16.86% during the next 3 months and, with a 90% probability hold a price between ₹3,344.25 and ₹3,720.58 at the end of this 3-month period.
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PIDILITIND.NS Signals & Forecast
There are few to no technical positive signals at the moment. The Pidilite Industries Limited 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 ₹2,920.90. On a fall, the stock will find some support from the short-term average at ₹2,894.84. 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. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -4.33%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Pidilite Industries Limited stock
Pidilite Industries Limited finds support from accumulated volume at ₹2,865.85 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹40.00 (1.37%) between high and low. For the last week, the stock has had daily average volatility of 1.89%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PIDILITIND.NS) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Pidilite Industries Limited to open at ₹2,926.75, and during the day (based on 14 day Average True Range), to move between ₹2,861.30 and ₹2,977.60, which gives a possible trading interval of +/-₹58.15 (+/-1.99%) up or down from last closing price. If Pidilite Industries Limited takes out the full calculated possible swing range there will be an estimated 3.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹2,960.10 (1.39%) than the support at ₹2,865.85 (1.84%), 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 Pidilite Industries Limited stock A Buy?
The Pidilite Industries Limited stock holds several negative signals and despite the positive trend, we believe Pidilite Industries Limited will perform weakly in the next couple of days or weeks. Therefore, we 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: -4.683 Sell Candidate Downgraded
Predicted Opening Price for Pidilite Industries Limited of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| ₹2,926.75 ( 0.250%) | ₹2,919.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PIDILITIND.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,966.75 | 1.62 % | |
| R2 | 2,951.47 | 1.10 % | ||
| R1 | 2,942.03 | 0.773 % | ||
| Current price: | 2,919.45 | |||
| Support | S1 | 2,911.47 | -0.273 % | |
| S2 | 2,902.03 | -0.597 % | ||
| S3 | 2,886.75 | -1.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,014.70 | 3.26 % | |
| R2 | 3,001.60 | 2.81 % | ||
| R1 | 2,960.10 | 1.39 % | ||
| Current price | 2,919.45 | |||
| Support | S1 | 2,865.85 | -1.84% | |
| S2 | 2,554.20 | -12.51% | ||
| S3 | 2,533.05 | -13.24% |
PIDILITIND Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 27, 2023 | Jul 27, 2023 | Jul 27, 2023 | ₹11.00 | 0.423% |
| 2 | Jul 26, 2022 | Jul 26, 2022 | Jul 26, 2022 | ₹10.00 | 0.431% |
| 3 | Jul 27, 2021 | Jul 27, 2021 | Jul 27, 2021 | ₹8.50 | 0.369% |
| 4 | Feb 28, 2020 | Mar 13, 2020 | Mar 23, 2020 | ₹7.00 | 0.551% |
| 5 | May 14, 2019 | Jul 29, 2019 | Sep 05, 2019 | ₹6.50 | 0.475% |
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