Pilani Investment and Industries Corp Stock Forecast
Pilani Investment and Industries Corp stock price up 0.169% on Monday
(Updated on May 06, 2024)
The Pilani Investment and Industries Corp stock price gained 0.169% on the last trading day (Monday, 6th May 2024), rising from ₹3,929.30 to ₹3,935.95. During the last trading day the stock fluctuated 2.47% from a day low at ₹3,868.30 to a day high of ₹3,964.00. The price has been going up and down for this period, and there has been a 14.27% 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, 343 more shares were traded than the day before. In total, 741 shares were bought and sold for approximately ₹2.92 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 19.94% during the next 3 months and, with a 90% probability hold a price between ₹4,194.08 and ₹5,242.76 at the end of this 3-month period.
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PILANIINVS.BO Signals & Forecast
The Pilani Investment and Industries Corp stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹3,967.16. On a fall, the stock will find some support from the long-term average at approximately ₹3,543.01. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Monday, April 29, 2024, and so far it has fallen -1.85%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Pilani Investment and Industries Corp stock
Pilani Investment and Industries Corp finds support from accumulated volume at ₹3,776.85 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 ₹95.70 between high and low, or 2.47%. For the last week, the stock has had daily average volatility of 2.64%.
Our recommended stop-loss: ₹3,773.34 (-4.13%) (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 (PILANIINVS.BO) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Pilani Investment and Industries Corporation Limited to open at ₹3,922.75, and during the day (based on 14 day Average True Range), to move between ₹3,791.26 and ₹4,080.64, which gives a possible trading interval of +/-₹144.69 (+/-3.68%) up or down from last closing price. If Pilani Investment and Industries Corporation Limited takes out the full calculated possible swing range there will be an estimated 7.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹3,965.00 (0.74%) than the support at ₹3,776.85 (4.04%), 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 Pilani Investment and Industries Corporation 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 Pilani Investment and Industries Corp stock to perform well in the short-term.
Current score: 2.782 Buy Candidate Unchanged
Predicted Opening Price for Pilani Investment and Industries Corporation Limited of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ₹3,922.75 ( 0.335%) | ₹3,935.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PILANIINVS.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,018.45 | 2.10 % | |
| R2 | 3,981.89 | 1.17 % | ||
| R1 | 3,959.31 | 0.593 % | ||
| Current price: | 3,935.95 | |||
| Support | S1 | 3,886.19 | -1.26 % | |
| S2 | 3,863.61 | -1.84 % | ||
| S3 | 3,827.05 | -2.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,010.05 | 1.88 % | |
| R2 | 3,976.75 | 1.04 % | ||
| R1 | 3,965.00 | 0.738 % | ||
| Current price | 3,935.95 | |||
| Support | S1 | 3,776.85 | -4.04% | |
| S2 | 3,654.30 | -7.16% | ||
| S3 | 3,410.80 | -13.34% |
FAQ
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