Rossell India 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
Rossell India Limited stock downgraded from Hold/Accumulate to Strong Sell Candidate after Friday trading session.
(Updated on May 31, 2024)
The Rossell India Limited stock price fell by -0.81% on the last day (Friday, 31st May 2024) from ₹448.60 to ₹444.95. During the last trading day the stock fluctuated 3.62% from a day low at ₹440.80 to a day high of ₹456.75. The price has fallen in 6 of the last 10 days and is down by -6.18% for this period. 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 -64 thousand shares and in total, 63 thousand shares were bought and sold for approximately ₹28.10 million.
The stock has broken the wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at ₹455.14. A reaction back to this level may hold a second chance to get out before further falls.
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ROSSELLIND.NS Signals & Forecast
There are few to no technical positive signals at the moment. The Rossell India Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹469.18 and ₹446.90. 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 24, 2024, and so far it has fallen -10.76%. 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 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 Rossell India Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹411.70 and ₹356.50. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Rossell India Limited finds support just below today's level at ₹411.70. If this is broken, then the next support from accumulated volume will be at ₹356.50 and ₹351.25.
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 ₹15.95 between high and low, or 3.62%. For the last week, the stock has had daily average volatility of 5.27%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ROSSELLIND.NS) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Rossell India Limited to open at ₹447.50, and during the day (based on 14 day Average True Range), to move between ₹422.04 and ₹467.86, which gives a possible trading interval of +/-₹22.91 (+/-5.15%) up or down from last closing price. If Rossell India Limited takes out the full calculated possible swing range there will be an estimated 10.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹468.35 (5.26%) than the support at ₹411.70 (7.47%), 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 Rossell India Limited stock A Buy?
The Rossell India Limited stock holds several negative signals and despite the positive trend, we believe Rossell India Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.
Current score: -5.625 Strong Sell Candidate Downgraded
Predicted Opening Price for Rossell India Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ₹447.50 ( 0.573%) | ₹444.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ROSSELLIND.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 463.45 | 4.16 % | |
| R2 | 457.36 | 2.79 % | ||
| R1 | 453.59 | 1.94 % | ||
| Current price: | 444.95 | |||
| Support | S1 | 441.41 | -0.796 % | |
| S2 | 437.64 | -1.64 % | ||
| S3 | 431.55 | -3.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 498.60 | 12.06 % | |
| R2 | 471.15 | 5.89 % | ||
| R1 | 468.35 | 5.26 % | ||
| Current price | 444.95 | |||
| Support | S1 | 411.70 | -7.47% | |
| S2 | 356.50 | -19.88% | ||
| S3 | 351.25 | -21.06% |
ROSSELLIND Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 12, 2024 | Aug 12, 2024 | Sep 19, 2024 | ₹0.300 | 0.0674% |
| 2 | Jul 20, 2023 | Jul 20, 2023 | Jul 20, 2023 | ₹0.400 | 0.0959% |
| 3 | Jul 28, 2022 | Jul 28, 2022 | Jul 28, 2022 | ₹0.300 | 0.150% |
| 4 | Aug 31, 2021 | Aug 31, 2021 | Aug 31, 2021 | ₹0.300 | 0.184% |
| 5 | Sep 15, 2020 | Sep 15, 2020 | Sep 15, 2020 | ₹0.200 | 0.135% |
FAQ
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