Shri Dinesh Mills Limited Stock Forecast
Green day on Friday for Shri Dinesh Mills Limited stock after gaining 0.84%
(Updated on Jun 28, 2024)
The Shri Dinesh Mills Limited stock price gained 0.84% on the last trading day (Friday, 28th Jun 2024), rising from ₹514.10 to ₹518.40. During the last trading day the stock fluctuated 5.77% from a day low at ₹508.60 to a day high of ₹537.95. The price has risen in 6 of the last 10 days but is still down by -0.06% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 4 thousand shares were bought and sold for approximately ₹2.25 million.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.02% during the next 3 months and, with a 90% probability hold a price between ₹519.08 and ₹563.52 at the end of this 3-month period.
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SHRIDINE.BO Signals & Forecast
The Shri Dinesh Mills 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 ₹517.06 and ₹508.82. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, June 10, 2024, and so far it has fallen -2.34%. 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 Shri Dinesh Mills Limited stock
Shri Dinesh Mills Limited finds support from accumulated volume at ₹517.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹29.35 between high and low, or 5.77%. For the last week the stock has had daily average volatility of 3.31%.
Our recommended stop-loss: ₹493.55 (-4.79%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 34 days ago.)
Trading Expectations (SHRIDINE.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Shri Dinesh Mills Limited to open at ₹521.65, and during the day (based on 14 day Average True Range), to move between ₹500.26 and ₹536.54, which gives a possible trading interval of +/-₹18.14 (+/-3.50%) up or down from last closing price. If Shri Dinesh Mills Limited takes out the full calculated possible swing range there will be an estimated 7.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹518.90 (0.10%) than the support at ₹517.35 (0.20%), 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 Shri Dinesh Mills 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 Shri Dinesh Mills Limited stock to perform well in the short-term.
Current score: 2.038 Buy Candidate Unchanged
Predicted Opening Price for Shri Dinesh Mills Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹521.65 ( 0.627%) | ₹518.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHRIDINE.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 551.00 | 6.29% |
| R2 | 539.79 | 4.13% |
| R1 | 532.86 | 2.79% |
| Price | 518.40 | |
| S1 | 510.44 | -1.54% |
| S2 | 503.51 | -2.87% |
| S3 | 492.30 | -5.03% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 526.00 | 1.47% |
| R2 | 522.20 | 0.733% |
| R1 | 518.90 | 0.0965% |
| Price | 518.40 | |
| S1 | 517.35 | -0.203% |
| S2 | 514.90 | -0.675% |
| S3 | 487.75 | -5.91% |
SHRIDINE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 02, 2024 | Aug 02, 2024 | Sep 12, 2024 | ₹30.00 | 5.79% |
| 2 | Aug 25, 2023 | Aug 25, 2023 | Oct 01, 2023 | ₹10.00 | 2.00% |
| 3 | Aug 11, 2022 | Aug 11, 2022 | Oct 02, 2022 | ₹7.50 | 1.12% |
| 4 | Aug 05, 2021 | Aug 05, 2021 | Sep 26, 2021 | ₹5.00 | 0.781% |
| 5 | Feb 18, 2020 | Feb 18, 2020 | Mar 12, 2020 | ₹3.00 | 3.24% |
FAQ
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