PI Industries Limited Stock Forecast
PI Industries Limited stock upgraded to Hold/Accumulate.
(Updated on Jul 03, 2024)
The PI Industries Limited stock price gained 1.08% on the last trading day (Wednesday, 3rd Jul 2024), rising from ₹3,756.65 to ₹3,797.35. During the last trading day the stock fluctuated 1.17% from a day low at ₹3,761.05 to a day high of ₹3,804.95. The price has been going up and down for this period, and there has been a 4.02% 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, 36 thousand more shares were traded than the day before. In total, 330 thousand shares were bought and sold for approximately ₹1.25 billion.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ₹3,814.62 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect PI Industries Limited stock with a 90% probability to be traded between ₹3,390.34 and ₹3,739.74 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. 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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PIIND.NS Signals & Forecast
The PI Industries 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 ₹3,792.61 and ₹3,670.34. 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 Thursday, June 27, 2024, and so far it has fallen -0.581%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Tuesday, June 04, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, June 04, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for PI Industries Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹3,594.25 and ₹3,576.80. 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, PI Industries Limited finds support just below today's level at ₹3,594.25. If this is broken, then the next support from accumulated volume will be at ₹3,576.80 and ₹3,539.70.
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 ₹43.90 (1.17%) between high and low. For the last week, the stock has had daily average volatility of 2.41%.
Our recommended stop-loss: ₹3,650.30 (-3.87%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 40 days ago.)
Trading Expectations (PIIND.NS) For The Upcoming Trading Day Of Thursday 4th
For the upcoming trading day on Thursday, 4th we expect PI Industries Limited to open at ₹3,787.78, and during the day (based on 14 day Average True Range), to move between ₹3,708.97 and ₹3,885.73, which gives a possible trading interval of +/-₹88.38 (+/-2.33%) up or down from last closing price. If PI Industries Limited takes out the full calculated possible swing range there will be an estimated 4.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹3,819.55 (0.58%) than the support at ₹3,594.25 (5.35%), 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 PI Industries Limited stock A Buy?
PI Industries Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.104 Hold/Accumulate Upgraded
Predicted Opening Price for PI Industries Limited of Thursday, July 4, 2024
Fair opening price July 4, 2024 | Current price |
---|---|
₹3,787.78 ( 0.252%) | ₹3,797.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PIIND.NS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 3,831.68 | 0.90% |
R2 | 3,814.91 | 0.463% |
R1 | 3,804.55 | 0.190% |
Price | 3,797.35 | |
S1 | 3,771.01 | -0.694% |
S2 | 3,760.65 | -0.97% |
S3 | 3,743.88 | -1.41% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 3,959.70 | 4.28% |
R2 | 3,860.55 | 1.66% |
R1 | 3,819.55 | 0.585% |
Price | 3,797.35 | |
S1 | 3,594.25 | -5.35% |
S2 | 3,576.80 | -5.81% |
S3 | 3,539.70 | -6.78% |
PIIND Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Aug 20, 2024 | Aug 20, 2024 | Sep 26, 2024 | ₹9.00 | 0.237% |
2 | Feb 21, 2024 | Feb 21, 2024 | Mar 05, 2024 | ₹6.00 | 0.165% |
3 | Aug 11, 2023 | Aug 11, 2023 | Aug 11, 2023 | ₹5.50 | 0.143% |
4 | Feb 24, 2023 | Feb 24, 2023 | Feb 24, 2023 | ₹4.50 | 0.144% |
5 | Aug 25, 2022 | Aug 25, 2022 | Aug 25, 2022 | ₹3.00 | 0.0883% |
FAQ
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