RBL Bank Limited Stock Forecast
RBL Bank Limited stock price ended at ₹262.96 on Thursday, after gaining 2.06%.
(Updated on Jun 27, 2024)
The RBL Bank Limited stock price gained 2.06% on the last trading day (Thursday, 27th Jun 2024), rising from ₹257.65 to ₹262.96. During the last trading day the stock fluctuated 2.84% from a day low at ₹256.62 to a day high of ₹263.90. The price has risen in 6 of the last 10 days and is up by 1.54% 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, 3 million more shares were traded than the day before. In total, 8 million shares were bought and sold for approximately ₹2.18 billion.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ₹267.94 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect RBL Bank Limited stock with a 90% probability to be traded between ₹225.75 and ₹269.35 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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RBLBANK.NS Signals & Forecast
The RBL Bank 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 ₹261.11 and ₹252.28. 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 is rising along with the price. This is considered to be a good technical signal. 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 Thursday, June 20, 2024, and so far it has fallen -1.55%. Further fall is indicated until a new bottom pivot has been found.
A sell signal from a double top formation was found on Thursday, June 20, 2024 and based on theory for this formation the price should fall by -19.55% to ₹211.55 within 34 trading days since signal was issued (Friday, August 09, 2024).
Support, Risk & Stop-loss for RBL Bank Limited stock
RBL Bank Limited finds support from accumulated volume at ₹262.90 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 ₹7.28 between high and low, or 2.84%. For the last week, the stock has had daily average volatility of 2.95%.
Our recommended stop-loss: ₹253.12 (-3.74%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (RBLBANK.NS) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect RBL Bank Limited to open at ₹261.16, and during the day (based on 14 day Average True Range), to move between ₹254.39 and ₹271.53, which gives a possible trading interval of +/-₹8.57 (+/-3.26%) up or down from last closing price. If RBL Bank Limited takes out the full calculated possible swing range there will be an estimated 6.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹262.90 (0.02%) than the resistance at ₹264.55 (0.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is RBL Bank Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for RBL Bank Limited stock to perform well in the short-term period.
Current score: 4.108 Buy Candidate Unchanged
Predicted Opening Price for RBL Bank Limited of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| ₹261.16 ( 0.685%) | ₹262.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RBLBANK.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 268.44 | 2.08% |
| R2 | 265.66 | 1.03% |
| R1 | 263.94 | 0.373% |
| Price | 262.96 | |
| S1 | 258.38 | -1.74% |
| S2 | 256.66 | -2.40% |
| S3 | 253.88 | -3.45% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 267.05 | 1.56% |
| R2 | 266.11 | 1.20% |
| R1 | 264.55 | 0.605% |
| Price | 262.96 | |
| S1 | 262.90 | -0.0228% |
| S2 | 261.25 | -0.650% |
| S3 | 254.65 | -3.16% |
RBLBANK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 18, 2023 | Aug 18, 2023 | Aug 18, 2023 | ₹1.50 | 0.695% |
| 2 | Mar 12, 2020 | Mar 23, 2020 | Apr 16, 2020 | ₹1.50 | 1.21% |
| 3 | Apr 18, 2019 | Jul 01, 2019 | Aug 07, 2019 | ₹2.70 | 0.743% |
| 4 | Apr 27, 2018 | Jul 26, 2018 | Aug 09, 2018 | ₹2.10 | 0.370% |
| 5 | May 02, 2017 | Jul 27, 2017 | Sep 04, 2017 | ₹1.80 | 0.337% |
FAQ
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