Poddar Pigments Ltd Stock Forecast
Red day on Friday for Poddar Pigments Ltd
(Updated on Jun 21, 2024)
The Poddar Pigments Ltd stock price fell by -2.93% on the last day (Friday, 21st Jun 2024) from ₹459.20 to ₹445.75. During the last trading day the stock fluctuated 6.70% from a day low at ₹435.30 to a day high of ₹464.45. The price has been going up and down for this period, and there has been a 14.03% gain for the last 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 -10 thousand shares and in total, 45 thousand shares were bought and sold for approximately ₹20.21 million.
The stock lies in the middle of a 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 23.75% during the next 3 months and, with a 90% probability hold a price between ₹469.51 and ₹586.67 at the end of this 3-month period.
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PODDARMENT.NS Signals & Forecast
The Poddar Pigments 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 ₹429.16 and ₹387.60. 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). 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 Tuesday, June 18, 2024, and so far it has fallen -5.08%. Further fall is indicated until a new bottom pivot has been found. 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 Poddar Pigments Ltd stock
Poddar Pigments Ltd finds support from accumulated volume at ₹445.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹29.15 between high and low, or 6.70%. For the last week, the stock has had daily average volatility of 8.27%.
Our recommended stop-loss: ₹425.37 (-4.57%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (PODDARMENT.NS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Poddar Pigments Ltd to open at ₹448.50, and during the day (based on 14 day Average True Range), to move between ₹422.57 and ₹468.93, which gives a possible trading interval of +/-₹23.18 (+/-5.20%) up or down from last closing price. If Poddar Pigments Ltd takes out the full calculated possible swing range there will be an estimated 10.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹445.00 (0.17%) than the resistance at ₹459.20 (3.02%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Poddar Pigments Ltd 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 Poddar Pigments Ltd stock to perform well in the short-term.
Current score: 2.725 Buy Candidate Unchanged
Predicted Opening Price for Poddar Pigments Ltd of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ₹448.50 ( 0.617%) | ₹445.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PODDARMENT.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 477.65 | 7.16% |
| R2 | 466.51 | 4.66% |
| R1 | 459.64 | 3.12% |
| Price | 445.75 | |
| S1 | 437.36 | -1.88% |
| S2 | 430.49 | -3.42% |
| S3 | 419.35 | -5.92% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 469.60 | 5.35% |
| R1 | 459.20 | 3.02% |
| Price | 445.75 | |
| S1 | 445.00 | -0.168% |
| S2 | 414.60 | -6.99% |
| S3 | 360.70 | -19.08% |
PODDARMENT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2023 | Mar 21, 2023 | Mar 21, 2023 | ₹3.50 | 1.34% |
| 2 | Sep 21, 2022 | Sep 21, 2022 | Sep 21, 2022 | ₹2.50 | 0.93% |
| 3 | Aug 31, 2021 | Aug 31, 2021 | Aug 31, 2021 | ₹2.50 | 0.719% |
| 4 | May 24, 2019 | Sep 12, 2019 | Oct 05, 2019 | ₹3.00 | 1.82% |
| 5 | May 19, 2018 | Sep 11, 2018 | Oct 05, 2018 | ₹3.50 | 1.63% |
FAQ
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