Rail Vikas Nigam Limited Stock Forecast
Rail Vikas Nigam Limited stock upgraded to Strong Buy Candidate.
(Updated on May 17, 2024)
The Rail Vikas Nigam Limited stock price gained 3.76% on the last trading day (Friday, 17th May 2024), rising from ₹280.25 to ₹290.80. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.63% from a day low at ₹280.50 to a day high of ₹293.50. The price has risen in 5 of the last 10 days and is up by 2.36% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 16 million more shares were traded than the day before. In total, 30 million shares were bought and sold for approximately ₹8.60 billion.
The stock lies in the upper part of a 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 ₹298.74 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 12.01% during the next 3 months and, with a 90% probability hold a price between ₹275.64 and ₹334.62 at the end of this 3-month period.
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RVNL.NS Signals & Forecast
The Rail Vikas Nigam 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 ₹271.21 and ₹270.20. 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 30.64%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Rail Vikas Nigam Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹266.25 and ₹260.45. 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, Rail Vikas Nigam Limited finds support just below today's level at ₹266.25. If this is broken, then the next support from accumulated volume will be at ₹260.45 and ₹243.50.
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 ₹13.00 between high and low, or 4.63%. For the last week, the stock has had daily average volatility of 4.21%.
Our recommended stop-loss: ₹279.23 (-3.98%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 44 days ago.)
Trading Expectations (RVNL.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Rail Vikas Nigam Limited to open at ₹288.27, and during the day (based on 14 day Average True Range), to move between ₹280.00 and ₹301.60, which gives a possible trading interval of +/-₹10.80 (+/-3.71%) up or down from last closing price. If Rail Vikas Nigam Limited takes out the full calculated possible swing range there will be an estimated 7.43% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹266.25, some ₹24.55 (8.44%) from the current price of ₹290.80, our system finds the risk reward attractive.
Is Rail Vikas Nigam Limited stock A Buy?
Rail Vikas Nigam Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 7.022 Strong Buy Candidate Upgraded
Predicted Opening Price for Rail Vikas Nigam Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹288.27 ( 0.87%) | ₹290.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RVNL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 301.27 | 3.60 % | |
| R2 | 296.30 | 1.89 % | ||
| R1 | 293.23 | 0.84 % | ||
| Current price: | 290.80 | |||
| Support | S1 | 283.30 | -2.58 % | |
| S2 | 280.23 | -3.63 % | ||
| S3 | 275.27 | -5.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 290.80 | |||
| Support | S1 | 266.25 | -8.44% | |
| S2 | 260.45 | -10.44% | ||
| S3 | 243.50 | -16.27% |
RVNL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 06, 2023 | Apr 06, 2023 | Apr 06, 2023 | ₹1.77 | 2.40% |
| 2 | Sep 22, 2022 | Sep 22, 2022 | Sep 22, 2022 | ₹0.250 | 0.693% |
| 3 | Mar 24, 2022 | Mar 24, 2022 | Mar 24, 2022 | ₹1.58 | 4.53% |
| 4 | Nov 30, 2021 | Nov 30, 2021 | Nov 30, 2021 | ₹0.440 | 1.32% |
| 5 | Apr 08, 2021 | Apr 08, 2021 | Apr 08, 2021 | ₹1.14 | 3.87% |
FAQ
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