Praj Industries Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Thursday for Praj Industries Limited stock after gaining 1.54%
(Updated on Jun 20, 2024)
The Praj Industries Limited stock price gained 1.54% on the last trading day (Thursday, 20th Jun 2024), rising from ₹684.30 to ₹694.85. During the last trading day the stock fluctuated 3.63% from a day low at ₹687.05 to a day high of ₹712.00. The price has risen in 8 of the last 10 days and is up by 34.28% over the past 2 weeks. Volume fell on the last day by -745 thousand shares and in total, 2 million shares were bought and sold for approximately ₹1.15 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ₹704.54 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 14.51% during the next 3 months and, with a 90% probability hold a price between ₹597.10 and ₹806.77 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
PRAJIND.NS Signals & Forecast
The Praj 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 ₹672.59 and ₹556.72. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Friday, June 14, 2024, and so far it has fallen -0.757%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Friday, April 26, 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 Friday, April 26, 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 Praj Industries Limited stock
Praj Industries Limited finds support from accumulated volume at ₹685.70 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₹24.95 between high and low, or 3.63%. For the last week, the stock has had daily average volatility of 6.19%.
The Praj Industries Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: ₹674.38 (-2.95%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from a pivot top found 27 days ago.)
Trading Expectations (PRAJIND.NS) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Praj Industries Limited to open at ₹697.97, and during the day (based on 14 day Average True Range), to move between ₹662.97 and ₹726.73, which gives a possible trading interval of +/-₹31.88 (+/-4.59%) up or down from last closing price. If Praj Industries Limited takes out the full calculated possible swing range there will be an estimated 9.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹700.15 (0.76%) than the support at ₹685.70 (1.32%), 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 Praj Industries 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 Praj Industries Limited stock to perform well in the short-term.
Current score: 2.599 Buy Candidate Unchanged
Predicted Opening Price for Praj Industries Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| ₹697.97 ( 0.449%) | ₹694.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRAJIND.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 722.92 | 4.04% |
| R2 | 713.39 | 2.67% |
| R1 | 707.50 | 1.82% |
| Price | 694.85 | |
| S1 | 688.44 | -0.92% |
| S2 | 682.55 | -1.77% |
| S3 | 673.02 | -3.14% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 700.15 | 0.763% |
| Price | 694.85 | |
| S1 | 685.70 | -1.32% |
| S2 | 590.40 | -15.03% |
| S3 | 522.05 | -24.87% |
PRAJIND Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 19, 2023 | Jul 19, 2023 | Jul 19, 2023 | ₹4.50 | 1.06% |
| 2 | Jul 27, 2022 | Jul 27, 2022 | Jul 27, 2022 | ₹1.50 | 0.384% |
| 3 | Aug 03, 2021 | Aug 03, 2021 | Aug 03, 2021 | ₹2.16 | 0.565% |
| 4 | Feb 26, 2020 | Mar 13, 2020 | Mar 24, 2020 | ₹2.70 | 6.03% |
| 5 | May 16, 2019 | Jul 15, 2019 | Aug 22, 2019 | ₹1.62 | 1.69% |
FAQ
Click here for our free guide on how to buy Praj Industries Limited Stock.
