Ravi Kumar Distilleries Limited Stock Forecast
Ravi Kumar Distilleries Limited stock upgraded to Buy Candidate.
(Updated on Jun 28, 2024)
The Ravi Kumar Distilleries Limited stock price gained 3.71% on the last trading day (Friday, 28th Jun 2024), rising from ₹29.64 to ₹30.74. During the last trading day the stock fluctuated 5.42% from a day low at ₹29.52 to a day high of ₹31.12. The price has risen in 7 of the last 10 days and is up by 23.65% over the past 2 weeks. Volume fell on the last day by -8 thousand shares and in total, 11 thousand shares were bought and sold for approximately ₹338.72 thousand. 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 ₹32.14 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 21.16% during the next 3 months and, with a 90% probability hold a price between ₹28.48 and ₹38.95 at the end of this 3-month period.
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RKDL.BO Signals & Forecast
The Ravi Kumar Distilleries 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 ₹30.72 and ₹25.17. 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). 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 21, 2024, and so far it has fallen -2.91%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Ravi Kumar Distilleries Limited stock
Ravi Kumar Distilleries Limited finds support from accumulated volume at ₹30.47 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved ₹1.60 between high and low, or 5.42%. For the last week the stock has had daily average volatility of 8.41%.
Our recommended stop-loss: ₹29.78 (-3.11%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (RKDL.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Ravi Kumar Distilleries Limited to open at ₹30.46, and during the day (based on 14 day Average True Range), to move between ₹29.06 and ₹32.42, which gives a possible trading interval of +/-₹1.68 (+/-5.47%) up or down from last closing price. If Ravi Kumar Distilleries Limited takes out the full calculated possible swing range there will be an estimated 10.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹30.47 (0.88%) than the resistance at ₹31.13 (1.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ravi Kumar Distilleries 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 Ravi Kumar Distilleries Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.887 Buy Candidate Upgraded
Predicted Opening Price for Ravi Kumar Distilleries Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹30.46 ( 0.91%) | ₹30.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RKDL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 32.06 | 4.29% |
| R2 | 31.45 | 2.31% |
| R1 | 31.07 | 1.08% |
| Price | 30.74 | |
| S1 | 29.85 | -2.90% |
| S2 | 29.47 | -4.13% |
| S3 | 28.86 | -6.12% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 31.66 | 2.99% |
| R2 | 31.27 | 1.72% |
| R1 | 31.13 | 1.27% |
| Price | 30.74 | |
| S1 | 30.47 | -0.88% |
| S2 | 30.16 | -1.89% |
| S3 | 28.77 | -6.41% |
RKDL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 26, 2011 | Jul 26, 2011 | Jul 26, 2011 | ₹0.250 | 1.13% |
FAQ
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