Remsons Industries Limited Stock Forecast
Red day on Monday for Remsons Industries Limited stock after losing 0.519%
(Updated on May 06, 2024)
The Remsons Industries Limited stock price fell by -0.519% on the last day (Monday, 6th May 2024) from ₹983.50 to ₹978.40. During the last trading day the stock fluctuated 3.88% from a day low at ₹953.05 to a day high of ₹990.00. The price has risen in 5 of the last 10 days and is up by 2.34% over the past 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 -14 thousand shares and in total, 7 thousand shares were bought and sold for approximately ₹6.57 million.
The stock lies in the middle of a wide and weak 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 7.50% during the next 3 months and, with a 90% probability hold a price between ₹965.13 and ₹1,188.33 at the end of this 3-month period.
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REMSONSIND.NS Signals & Forecast
The Remsons Industries Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹980.56. On a fall, the stock will find some support from the long-term average at approximately ₹937.45. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Thursday, March 21, 2024, and so far it has risen 13.77%. Further rise is indicated until a new top pivot has been found. 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). 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 Remsons Industries Limited stock
Remsons Industries Limited finds support from accumulated volume at ₹969.90 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 ₹36.95 (3.88%) between high and low. For the last week, the stock has had daily average volatility of 1.96%.
Our recommended stop-loss: ₹942.98 (-3.62%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (REMSONSIND.NS) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Remsons Industries Limited to open at ₹973.82, and during the day (based on 14 day Average True Range), to move between ₹945.17 and ₹1,011.63, which gives a possible trading interval of +/-₹33.23 (+/-3.40%) up or down from last closing price. If Remsons Industries Limited takes out the full calculated possible swing range there will be an estimated 6.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹978.55 (0.02%) than the support at ₹969.90 (0.87%), 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 Remsons 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 Remsons Industries Limited stock to perform well in the short-term.
Current score: 1.687 Buy Candidate Unchanged
Predicted Opening Price for Remsons Industries Limited of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ₹973.82 ( 0.468%) | ₹978.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for REMSONSIND.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,010.77 | 3.31 % | |
| R2 | 996.65 | 1.87 % | ||
| R1 | 987.93 | 0.97 % | ||
| Current price: | 978.40 | |||
| Support | S1 | 959.70 | -1.91 % | |
| S2 | 950.98 | -2.80 % | ||
| S3 | 936.87 | -4.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 983.50 | 0.521 % | |
| R2 | 983.45 | 0.516 % | ||
| R1 | 978.55 | 0.0153 % | ||
| Current price | 978.40 | |||
| Support | S1 | 969.90 | -0.87% | |
| S2 | 885.10 | -9.54% | ||
| S3 | 864.20 | -11.67% |
REMSONSIND Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 20, 2022 | Sep 20, 2022 | Sep 20, 2022 | ₹1.00 | 0.426% |
| 2 | Sep 21, 2021 | Sep 21, 2021 | Sep 21, 2021 | ₹1.00 | 0.447% |
| 3 | Mar 03, 2020 | Mar 13, 2020 | Mar 17, 2020 | ₹1.50 | 2.73% |
| 4 | May 29, 2019 | Sep 05, 2019 | Oct 14, 2019 | ₹1.50 | 1.78% |
| 5 | May 28, 2018 | Sep 14, 2018 | Oct 24, 2018 | ₹1.30 | 1.15% |
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