Ramco Industries Limited Stock Forecast
Ramco Industries Limited stock price ended at ₹220.75 on Friday, after gaining 0.250%.
(Updated on May 17, 2024)
The Ramco Industries Limited stock price gained 0.250% on the last trading day (Friday, 17th May 2024), rising from ₹220.20 to ₹220.75. During the last trading day the stock fluctuated 2.35% from a day low at ₹218.80 to a day high of ₹223.95. The price has risen in 6 of the last 10 days and is up by 0.78% 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, 310 more shares were traded than the day before. In total, 56 thousand shares were bought and sold for approximately ₹12.35 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Ramco Industries Limited stock with a 90% probability to be traded between ₹201.69 and ₹235.26 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.
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RAMCOIND.NS Signals & Forecast
There are mixed signals in the stock today. The Ramco Industries Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹222.54. On a fall, the stock will find some support from the short-term average at ₹220.08. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -4.83%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Ramco Industries Limited stock
Ramco Industries Limited finds support from accumulated volume at ₹218.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹5.15 (2.35%) between high and low. For the last week, the stock has had daily average volatility of 3.21%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RAMCOIND.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Ramco Industries Limited to open at ₹221.17, and during the day (based on 14 day Average True Range), to move between ₹213.54 and ₹227.96, which gives a possible trading interval of +/-₹7.21 (+/-3.26%) up or down from last closing price. If Ramco Industries Limited takes out the full calculated possible swing range there will be an estimated 6.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹218.50 (1.02%) than the resistance at ₹226.05 (2.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Ramco Industries Limited will release earnings BMO on Monday, May 20, 2024. We will update the financials statements for Ramco Industries Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.59% in the first trading day after earnings release.
Is Ramco Industries Limited stock A Buy?
Ramco Industries Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.306 Sell Candidate Unchanged
Predicted Opening Price for Ramco Industries Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹221.17 ( 0.189%) | ₹220.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RAMCOIND.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 226.32 | 2.52 % | |
| R2 | 224.35 | 1.63 % | ||
| R1 | 223.13 | 1.08 % | ||
| Current price: | 220.75 | |||
| Support | S1 | 219.20 | -0.702 % | |
| S2 | 217.98 | -1.25 % | ||
| S3 | 216.02 | -2.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 230.30 | 4.33 % | |
| R2 | 228.85 | 3.67 % | ||
| R1 | 226.05 | 2.40 % | ||
| Current price | 220.75 | |||
| Support | S1 | 218.50 | -1.02% | |
| S2 | 212.25 | -3.85% | ||
| S3 | 201.00 | -8.95% |
RAMCOIND Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 03, 2023 | Aug 03, 2023 | Aug 03, 2023 | ₹1.00 | 0.544% |
| 2 | Aug 02, 2023 | Aug 02, 2023 | Aug 02, 2023 | ₹1.00 | 0.545% |
| 3 | Aug 02, 2022 | Aug 02, 2022 | Aug 02, 2022 | ₹1.00 | 0.518% |
| 4 | Mar 22, 2021 | Mar 22, 2021 | Mar 22, 2021 | ₹1.00 | 0.388% |
| 5 | Feb 25, 2020 | Mar 11, 2020 | Mar 16, 2020 | ₹0.500 | 0.334% |
FAQ
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