TATA CONSUMER PRODUCTS LIMITED Stock Forecast
TATA CONSUMER PRODUCTS LIMITED stock downgraded to Sell Candidate
(Updated on Jun 14, 2024)
The TATA CONSUMER PRODUCTS LIMITED stock price fell by -0.202% on the last day (Friday, 14th Jun 2024) from ₹1,114.40 to ₹1,112.15. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.21% from a day low at ₹1,110.05 to a day high of ₹1,123.45. The price has fallen in 6 of the last 10 days but is still up by 4.99% over the past 2 weeks. 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 -36 thousand shares and in total, 31 thousand shares were bought and sold for approximately ₹34.72 million.
The stock lies in the middle of a 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 -3.29% during the next 3 months and, with a 90% probability hold a price between ₹1,017.88 and ₹1,111.10 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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TATACONSUM.BO Signals & Forecast
The TATA CONSUMER PRODUCTS LIMITED stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹1,127.76. On a fall, the stock will find some support from the long-term average at approximately ₹1,100.96. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -2.63%. 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 TATA CONSUMER PRODUCTS LIMITED stock
TATA CONSUMER PRODUCTS LIMITED finds support from accumulated volume at ₹1,109.85 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 ₹13.40 (1.21%) between high and low. For the last week, the stock has had daily average volatility of 1.83%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TATACONSUM.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect TATA CONSUMER PRODUCTS LIMITED to open at ₹1,115.22, and during the day (based on 14 day Average True Range), to move between ₹1,084.66 and ₹1,139.64, which gives a possible trading interval of +/-₹27.49 (+/-2.47%) up or down from last closing price. If TATA CONSUMER PRODUCTS LIMITED takes out the full calculated possible swing range there will be an estimated 4.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹1,109.85 (0.21%) than the resistance at ₹1,130.85 (1.68%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is TATA CONSUMER PRODUCTS LIMITED stock A Buy?
TATA CONSUMER PRODUCTS LIMITED holds several negative signals and we believe that 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: -1.784 Sell Candidate Downgraded
Predicted Opening Price for TATA CONSUMER PRODUCTS LIMITED of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹1,115.22 ( 0.276%) | ₹1,112.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TATACONSUM.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,128.62 | 1.48% |
| R2 | 1,123.50 | 1.02% |
| R1 | 1,120.34 | 0.736% |
| Price | 1,112.15 | |
| S1 | 1,110.10 | -0.185% |
| S2 | 1,106.94 | -0.469% |
| S3 | 1,101.82 | -0.93% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,142.15 | 2.70% |
| R2 | 1,134.20 | 1.98% |
| R1 | 1,130.85 | 1.68% |
| Price | 1,112.15 | |
| S1 | 1,109.85 | -0.207% |
| S2 | 1,098.90 | -1.19% |
| S3 | 1,086.85 | -2.27% |
TATACONSUM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 24, 2024 | May 24, 2024 | Jul 13, 2024 | ₹7.75 | 0.697% |
| 2 | May 19, 2023 | May 19, 2023 | Jul 06, 2023 | ₹8.45 | 1.00% |
| 3 | Aug 04, 2017 | Aug 04, 2017 | Sep 17, 2017 | ₹2.35 | 1.12% |
| 4 | Aug 08, 2016 | Aug 08, 2016 | Aug 08, 2016 | ₹2.25 | 1.57% |
| 5 | Jul 30, 2015 | Jul 30, 2015 | Jul 30, 2015 | ₹2.25 | 1.64% |
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