PNB Housing Finance Limited Stock Forecast
PNB Housing Finance Limited stock price ended at ₹795.30 on Friday, after losing 0.201%.
(Updated on May 03, 2024)
The PNB Housing Finance Limited stock price fell by -0.201% on the last day (Friday, 3rd May 2024) from ₹796.90 to ₹795.30. During the last trading day the stock fluctuated 2.09% from a day low at ₹791.30 to a day high of ₹807.80. The price has risen in 7 of the last 10 days and is up by 5.58% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -33 thousand shares and in total, 15 thousand shares were bought and sold for approximately ₹11.92 million.
The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ₹801.02 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect PNB Housing Finance Limited stock with a 90% probability to be traded between ₹615.66 and ₹803.32 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
PNBHOUSING.BO Signals & Forecast
The PNB Housing Finance 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 ₹790.57 and ₹716.96. A breakdown below any of these levels will issue sell signals. 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 -0.699%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for PNB Housing Finance Limited stock
PNB Housing Finance Limited finds support from accumulated volume at ₹770.20 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 ₹16.50 between high and low, or 2.09%. For the last week, the stock has had daily average volatility of 3.63%.
Our recommended stop-loss: ₹763.98 (-3.94%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (PNBHOUSING.BO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect PNB Housing Finance Limited to open at ₹798.13, and during the day (based on 14 day Average True Range), to move between ₹765.30 and ₹825.30, which gives a possible trading interval of +/-₹30.00 (+/-3.77%) up or down from last closing price. If PNB Housing Finance Limited takes out the full calculated possible swing range there will be an estimated 7.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹796.25 (0.12%) than the support at ₹770.20 (3.16%), 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 PNB Housing Finance Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for PNB Housing Finance Limited stock to perform well in the short-term period.
Current score: 1.492 Buy Candidate Unchanged
Predicted Opening Price for PNB Housing Finance Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹798.13 ( 0.356%) | ₹795.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PNBHOUSING.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 814.63 | 2.43 % | |
| R2 | 808.33 | 1.64 % | ||
| R1 | 804.44 | 1.15 % | ||
| Current price: | 795.30 | |||
| Support | S1 | 791.83 | -0.436 % | |
| S2 | 787.94 | -0.93 % | ||
| S3 | 781.63 | -1.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 800.90 | 0.704 % | |
| R2 | 796.90 | 0.201 % | ||
| R1 | 796.25 | 0.119 % | ||
| Current price | 795.30 | |||
| Support | S1 | 770.20 | -3.16% | |
| S2 | 749.55 | -5.75% | ||
| S3 | 723.65 | -9.01% |
FAQ
Click here for our free guide on how to buy PNB Housing Finance Limited Stock.
