TCNS Clothing Co. Limited Stock Forecast
TCNS Clothing Co. Limited stock price ended at ₹553.80 on Friday, after gaining 0.700%.
(Updated on Jun 14, 2024)
The TCNS Clothing Co. Limited stock price gained 0.700% on the last trading day (Friday, 14th Jun 2024), rising from ₹549.95 to ₹553.80. During the last trading day the stock fluctuated 2.05% from a day low at ₹549.90 to a day high of ₹561.20. The price has risen in 7 of the last 10 days and is up by 12.92% 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, 2 thousand more shares were traded than the day before. In total, 8 thousand shares were bought and sold for approximately ₹4.59 million.
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 ₹570.92 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 56.22% during the next 3 months and, with a 90% probability hold a price between ₹745.93 and ₹891.89 at the end of this 3-month period.
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TCNSBRANDS.BO Signals & Forecast
The TCNS Clothing Co. 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 ₹550.16 and ₹483.12. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 -0.530%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for TCNS Clothing Co. Limited stock
TCNS Clothing Co. Limited finds support from accumulated volume at ₹546.10 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹11.30 between high and low, or 2.05%. For the last week, the stock has had daily average volatility of 3.11%.
Our recommended stop-loss: ₹532.38 (-3.87%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (TCNSBRANDS.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect TCNS Clothing Co. Limited to open at ₹554.97, and during the day (based on 14 day Average True Range), to move between ₹528.56 and ₹579.04, which gives a possible trading interval of +/-₹25.24 (+/-4.56%) up or down from last closing price. If TCNS Clothing Co. Limited takes out the full calculated possible swing range there will be an estimated 9.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹556.75 (0.53%) than the support at ₹546.10 (1.39%), 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 TCNS Clothing Co. 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 TCNS Clothing Co. Limited stock to perform well in the short-term.
Current score: 2.565 Buy Candidate Unchanged
Predicted Opening Price for TCNS Clothing Co. Limited of Tuesday, June 18, 2024
Fair opening price June 18, 2024 | Current price |
---|---|
₹554.97 ( 0.211%) | ₹553.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TCNSBRANDS.BO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 566.27 | 2.25% |
R2 | 561.95 | 1.47% |
R1 | 559.28 | 0.99% |
Price | 553.80 | |
S1 | 550.65 | -0.569% |
S2 | 547.98 | -1.05% |
S3 | 543.67 | -1.83% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 556.75 | 0.533% |
Price | 553.80 | |
S1 | 546.10 | -1.39% |
S2 | 490.45 | -11.44% |
S3 | 447.45 | -19.20% |
FAQ
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