Radico Khaitan Limited Stock Forecast
Green day on Friday for Radico Khaitan Limited
(Updated on Apr 19, 2024)
The Radico Khaitan Limited stock price gained 2.02% on the last trading day (Friday, 19th Apr 2024), rising from ₹1,741.20 to ₹1,776.40. During the last trading day the stock fluctuated 5.49% from a day low at ₹1,703.50 to a day high of ₹1,797.05. The price has been going up and down for this period, and there has been a 3.92% gain for the last 2 weeks. Volume fell on the last day by -9 thousand shares and in total, 7 thousand shares were bought and sold for approximately ₹12.39 million. 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 has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. ₹1,763.79 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach ₹2,005.44 sometime during the next 3 months.
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RADICO.BO Signals & Forecast
The Radico Khaitan 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 ₹1,728.03 and ₹1,638.71. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 06, 2024, and so far it has risen 17.48%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Radico Khaitan Limited stock
Radico Khaitan Limited finds support from accumulated volume at ₹1,768.15 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 ₹93.55 between high and low, or 5.49%. For the last week, the stock has had daily average volatility of 5.34%.
Our recommended stop-loss: ₹1,718.84 (-3.24%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (RADICO.BO) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Radico Khaitan Limited to open at ₹1,758.98, and during the day (based on 14 day Average True Range), to move between ₹1,711.54 and ₹1,841.26, which gives a possible trading interval of +/-₹64.86 (+/-3.65%) up or down from last closing price. If Radico Khaitan Limited takes out the full calculated possible swing range there will be an estimated 7.30% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹1,768.15, some ₹8.25 (0.46%) from the current price of ₹1,776.40, our system finds the risk reward attractive.
Is Radico Khaitan Limited stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Radico Khaitan Limited stock to perform well in the short-term period.
Current score: 3.005 Buy Candidate Unchanged
Predicted Opening Price for Radico Khaitan Limited of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| ₹1,758.98 ( 0.98%) | ₹1,776.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RADICO.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,852.53 | 4.29 % | |
| R2 | 1,816.80 | 2.27 % | ||
| R1 | 1,794.72 | 1.03 % | ||
| Current price: | 1,776.40 | |||
| Support | S1 | 1,723.25 | -2.99 % | |
| S2 | 1,701.17 | -4.24 % | ||
| S3 | 1,665.43 | -6.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 1,776.40 | |||
| Support | S1 | 1,768.15 | -0.464% | |
| S2 | 1,737.60 | -2.18% | ||
| S3 | 1,566.35 | -11.82% |
FAQ
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