Rane (Madras) Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Rane (Madras) Limited stock price ended at ₹806.30 on Monday, after gaining 2.10%.
(Updated on Jun 03, 2024)
The Rane (Madras) Limited stock price gained 2.10% on the last trading day (Monday, 3rd Jun 2024), rising from ₹789.75 to ₹806.30. During the last trading day the stock fluctuated 2.76% from a day low at ₹801.10 to a day high of ₹823.20. The price has fallen in 7 of the last 10 days and is down by -3.34% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 14 thousand shares were bought and sold for approximately ₹11.45 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹792.54 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 21.53% during the next 3 months and, with a 90% probability hold a price between ₹963.22 and ₹1,168.43 at the end of this 3-month period.
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RML.NS Signals & Forecast
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. The Rane (Madras) Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹808.53 and ₹824.00. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -10.68%. 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).
Support, Risk & Stop-loss for Rane (Madras) Limited stock
Rane (Madras) Limited finds support from accumulated volume at ₹805.30 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 ₹22.10 between high and low, or 2.76%. For the last week, the stock has had daily average volatility of 2.50%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RML.NS) For The Upcoming Trading Day Of Tuesday 4th
For the upcoming trading day on Tuesday, 4th we expect Rane (Madras) Limited to open at ₹810.20, and during the day (based on 14 day Average True Range), to move between ₹774.35 and ₹838.25, which gives a possible trading interval of +/-₹31.95 (+/-3.96%) up or down from last closing price. If Rane (Madras) Limited takes out the full calculated possible swing range there will be an estimated 7.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹805.30 (0.12%) than the resistance at ₹897.20 (11.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Rane (Madras) Limited stock A Buy?
The Rane (Madras) Limited stock holds several negative signals and despite the positive trend, we believe Rane (Madras) Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.416 Sell Candidate Unchanged
Predicted Opening Price for Rane (Madras) Limited of Tuesday, June 4, 2024
| Fair opening price June 4, 2024 | Current price |
|---|---|
| ₹810.20 ( 0.484%) | ₹806.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RML.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 832.30 | 3.22 % | |
| R2 | 823.86 | 2.18 % | ||
| R1 | 818.64 | 1.53 % | ||
| Current price: | 806.30 | |||
| Support | S1 | 801.76 | -0.563 % | |
| S2 | 796.54 | -1.21 % | ||
| S3 | 788.10 | -2.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 902.75 | 11.96 % | |
| R2 | 897.90 | 11.36 % | ||
| R1 | 897.20 | 11.27 % | ||
| Current price | 806.30 | |||
| Support | S1 | 805.30 | -0.124% | |
| S2 | 790.35 | -1.98% | ||
| S3 | 762.00 | -5.49% |
RML Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 23, 2019 | Jul 16, 2019 | Jul 29, 2019 | ₹4.50 | 1.78% |
| 2 | Jan 22, 2019 | Jan 31, 2019 | Feb 08, 2019 | ₹4.00 | 1.02% |
| 3 | Apr 30, 2018 | Jul 17, 2018 | Aug 01, 2018 | ₹7.50 | 1.09% |
| 4 | Jan 23, 2018 | Feb 01, 2018 | Feb 13, 2018 | ₹4.50 | 0.515% |
| 5 | Aug 14, 2017 | Aug 14, 2017 | Aug 14, 2017 | ₹4.00 | 0.83% |
FAQ
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