Poddar Housing and Development Ltd Stock Forecast
Poddar Housing and Development Ltd stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Apr 19, 2024)
The Poddar Housing and Development Ltd stock price gained 4.80% on the last trading day (Friday, 19th Apr 2024), rising from ₹102.00 to ₹106.90. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.32% from a day low at ₹101.50 to a day high of ₹106.90. The price has risen in 6 of the last 10 days and is up by 5.32% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 566 more shares were traded than the day before. In total, 752 shares were bought and sold for approximately ₹80.39 thousand.
Given the current short-term trend, the stock is expected to fall -16.68% during the next 3 months and, with a 90% probability hold a price between ₹67.14 and ₹89.07 at the end of this 3-month period. 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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PODDARHOUS.NS Signals & Forecast
Mostly positive signals in the chart today. The Poddar Housing and Development Ltd 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 ₹100.86 and ₹95.75. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 20, 2024, and so far it has risen 22.38%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Poddar Housing and Development Ltd has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Poddar Housing and Development Ltd stock
Poddar Housing and Development Ltd finds support from accumulated volume at ₹102.15 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 ₹5.40 between high and low, or 5.32%. For the last week, the stock has had daily average volatility of 3.67%.
Our recommended stop-loss: ₹101.41 (-5.13%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (PODDARHOUS.NS) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Poddar Housing and Development Ltd to open at ₹105.10, and during the day (based on 14 day Average True Range), to move between ₹102.34 and ₹111.46, which gives a possible trading interval of +/-₹4.56 (+/-4.27%) up or down from last closing price. If Poddar Housing and Development Ltd takes out the full calculated possible swing range there will be an estimated 8.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹107.70 (0.75%) than the support at ₹102.15 (4.44%), 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 Poddar Housing and Development Ltd stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 4.980 Buy Candidate Upgraded
Predicted Opening Price for Poddar Housing and Development Ltd of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| ₹105.10 ( 1.68%) | ₹106.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PODDARHOUS.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 110.50 | 3.37 % | |
| R2 | 108.44 | 1.44 % | ||
| R1 | 107.16 | 0.246 % | ||
| Current price: | 106.90 | |||
| Support | S1 | 103.04 | -3.61 % | |
| S2 | 101.76 | -4.81 % | ||
| S3 | 99.70 | -6.74 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 115.85 | 8.37 % | |
| R2 | 113.35 | 6.03 % | ||
| R1 | 107.70 | 0.748 % | ||
| Current price | 106.90 | |||
| Support | S1 | 102.15 | -4.44% | |
| S2 | 89.05 | -16.70% | ||
| S3 | 88.45 | -17.26% |
PODDARHOUS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2019 | Sep 20, 2019 | Oct 07, 2019 | ₹1.50 | 0.380% |
| 2 | May 18, 2018 | Aug 08, 2018 | Aug 24, 2018 | ₹1.50 | 0.201% |
| 3 | May 16, 2017 | Aug 08, 2017 | Sep 16, 2017 | ₹1.50 | 0.115% |
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