Royal India Corporation 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
Royal India Corporation Limited stock price ended at ₹20.88 on Friday, after gaining 1.95%.
(Updated on May 17, 2024)
The Royal India Corporation Limited stock price gained 1.95% on the last trading day (Friday, 17th May 2024), rising from ₹20.48 to ₹20.88. It has now gained 10 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 0% from a day low at ₹20.88 to a day high of ₹20.88. The price has risen in 10 of the last 10 days and is up by 21.61% over the past 2 weeks. Volume fell on the last day by -4 thousand shares and in total, 4 thousand shares were bought and sold for approximately ₹90.06 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 has broken the narrow and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ₹19.49, a level that may pose a second chance to hit a runner.
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ROYALIND.BO Signals & Forecast
The Royal India Corporation 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 ₹19.71 and ₹15.20. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 126.22%. Further rise is indicated until a new top pivot has been found. 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. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Royal India Corporation Limited stock
Royal India Corporation Limited finds support from accumulated volume at ₹20.48 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 ₹0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%.
Since the Royal India Corporation Limited has been rising for 10 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: ₹20.15 (-3.50%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 41 days ago.)
Trading Expectations (ROYALIND.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Royal India Corporation Limited to open at ₹20.88, and during the day (based on 14 day Average True Range), to move between ₹20.53 and ₹21.23, which gives a possible trading interval of +/-₹0.347 (+/-1.66%) up or down from last closing price. If Royal India Corporation Limited takes out the full calculated possible swing range there will be an estimated 3.33% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹20.48, some ₹0.400 (1.92%) from the current price of ₹20.88, our system finds the risk reward attractive.
Is Royal India Corporation Limited stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Royal India Corporation Limited stock to perform well in the short-term period.
Current score: 8.250 Strong Buy Candidate Unchanged
Predicted Opening Price for Royal India Corporation Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹20.88 ( 0%) | ₹20.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ROYALIND.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.88 | . | |
| R2 | 20.88 | . | ||
| R1 | 20.88 | . | ||
| Current price: | 20.88 | |||
| Support | S1 | 20.88 | . | |
| S2 | 20.88 | . | ||
| S3 | 20.88 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 20.88 | |||
| Support | S1 | 20.48 | -1.92% | |
| S2 | 18.94 | -9.29% | ||
| S3 | 18.21 | -12.79% |
FAQ
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