The South Indian Bank Limited Stock Forecast
Evaluation of The South Indian Bank Limited stock downgraded after the last trading session.
(Updated on Jun 25, 2024)
The The South Indian Bank Limited stock price fell by -0.508% on the last day (Tuesday, 25th Jun 2024) from ₹27.57 to ₹27.43. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.65% from a day low at ₹27.30 to a day high of ₹27.75. The price has fallen in 6 of the last 10 days and is down by -0.44% 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 -7 million shares and in total, 14 million shares were bought and sold for approximately ₹376.47 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.25% during the next 3 months and, with a 90% probability hold a price between ₹23.60 and ₹28.40 at the end of this 3-month period.
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SOUTHBANK.NS Signals & Forecast
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. The The South Indian Bank 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 ₹27.80 and ₹27.50. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -3.82%. Further fall is indicated until a new bottom pivot has been found. 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 The South Indian Bank Limited stock
The South Indian Bank Limited finds support from accumulated volume at ₹27.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹0.450 (1.65%) between high and low. For the last week, the stock has had daily average volatility of 3.10%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SOUTHBANK.NS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect The South Indian Bank Limited to open at ₹27.49, and during the day (based on 14 day Average True Range), to move between ₹26.59 and ₹28.27, which gives a possible trading interval of +/-₹0.84 (+/-3.07%) up or down from last closing price. If The South Indian Bank Limited takes out the full calculated possible swing range there will be an estimated 6.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹27.25 (0.66%) than the resistance at ₹27.75 (1.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is The South Indian Bank Limited stock A Buy?
The South Indian Bank Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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 Sell candidate.
Current score: -2.438 Sell Candidate Downgraded
Predicted Opening Price for The South Indian Bank Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹27.49 ( 0.231%) | ₹27.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SOUTHBANK.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 27.94 | 1.87% |
| R2 | 27.77 | 1.24% |
| R1 | 27.67 | 0.86% |
| Price | 27.43 | |
| S1 | 27.32 | -0.396% |
| S2 | 27.22 | -0.783% |
| S3 | 27.04 | -1.41% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 29.10 | 6.09% |
| R2 | 28.80 | 4.99% |
| R1 | 27.75 | 1.17% |
| Price | 27.43 | |
| S1 | 27.25 | -0.656% |
| S2 | 26.55 | -3.21% |
| S3 | 25.30 | -7.77% |
SOUTHBANK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 17, 2023 | Aug 17, 2023 | Sep 23, 2023 | ₹0.276 | 1.03% |
| 2 | May 09, 2019 | Jul 09, 2019 | Jul 23, 2019 | ₹0.250 | 2.00% |
| 3 | Jul 03, 2018 | Jul 03, 2018 | Jul 03, 2018 | ₹0.400 | 1.85% |
| 4 | May 31, 2017 | Jul 03, 2017 | Aug 10, 2017 | ₹0.400 | 1.52% |
| 5 | May 11, 2016 | Jun 30, 2016 | Jul 18, 2016 | ₹0.453 | 2.34% |
FAQ
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