TCNS Clothing Co. Limited Stock Forecast
TCNS Clothing Co. Limited stock price up 0.700% on Friday
(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 2.03% from a day low at ₹550.35 to a day high of ₹561.50. The price has risen in 7 of the last 10 days and is up by 12.72% 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, 620 thousand more shares were traded than the day before. In total, 724 thousand shares were bought and sold for approximately ₹401.21 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 ₹569.93 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 54.22% during the next 3 months and, with a 90% probability hold a price between ₹732.94 and ₹878.94 at the end of this 3-month period.
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TCNSBRANDS.NS 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 ₹550.33 and ₹483.45. 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 -0.575%. 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 ₹546.15 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 ₹11.15 between high and low, or 2.03%. For the last week, the stock has had daily average volatility of 2.93%.
Our recommended stop-loss: ₹532.32 (-3.88%) (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.NS) 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 ₹555.22, and during the day (based on 14 day Average True Range), to move between ₹529.38 and ₹578.22, which gives a possible trading interval of +/-₹24.42 (+/-4.41%) 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 8.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹554.40 (0.11%) than the support at ₹546.15 (1.38%), 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: 2.571 Buy Candidate Unchanged
Predicted Opening Price for TCNS Clothing Co. Limited of Tuesday, June 18, 2024
Fair opening price June 18, 2024 | Current price |
---|---|
₹555.22 ( 0.256%) | ₹553.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TCNSBRANDS.NS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 566.37 | 2.27% |
R2 | 562.11 | 1.50% |
R1 | 559.48 | 1.02% |
Price | 553.80 | |
S1 | 550.96 | -0.513% |
S2 | 548.33 | -0.99% |
S3 | 544.07 | -1.76% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 557.00 | 0.578% |
R1 | 554.40 | 0.108% |
Price | 553.80 | |
S1 | 546.15 | -1.38% |
S2 | 492.55 | -11.06% |
S3 | 447.70 | -19.16% |
FAQ
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