Texmaco Rail & Engineering Limited Stock Forecast
Green day on Friday for Texmaco Rail & Engineering Limited stock after gaining 4.55%
(Updated on Jun 28, 2024)
The Texmaco Rail & Engineering Limited stock price gained 4.55% on the last trading day (Friday, 28th Jun 2024), rising from ₹237.60 to ₹248.40. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.54% from a day low at ₹239.51 to a day high of ₹252.79. The price has risen in 7 of the last 10 days and is up by 18.21% over the past 2 weeks. Volume fell on the last day by -20 million shares and in total, 17 million shares were bought and sold for approximately ₹4.24 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ₹223.33, a level that may pose a second chance to hit a runner. According to fan-theory ₹259.95 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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TEXRAIL.NS Signals & Forecast
The Texmaco Rail & Engineering 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 ₹222.69 and ₹199.44. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 44.50%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Texmaco Rail & Engineering Limited stock
Texmaco Rail & Engineering Limited finds support from accumulated volume at ₹237.60 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 ₹13.28 between high and low, or 5.54%. For the last week, the stock has had daily average volatility of 6.16%.
The Texmaco Rail & Engineering Limited stock is extremely overbought on RSI14 (85). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: ₹240.90 (-3.02%) (This stock has high daily movements and this gives high risk. The RSI14 is 85 and this increases the risk substantially. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (TEXRAIL.NS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Texmaco Rail & Engineering Limited to open at ₹246.90, and during the day (based on 14 day Average True Range), to move between ₹236.42 and ₹260.38, which gives a possible trading interval of +/-₹11.98 (+/-4.82%) up or down from last closing price. If Texmaco Rail & Engineering Limited takes out the full calculated possible swing range there will be an estimated 9.65% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹237.60, some ₹10.80 (4.35%) from the current price of ₹248.40, our system finds the risk reward attractive.
Is Texmaco Rail & Engineering Limited stock A Buy?
Texmaco Rail & Engineering Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Texmaco Rail & Engineering Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹246.90 ( 0.604%) | ₹248.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TEXRAIL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 260.18 | 4.74% |
| R2 | 255.11 | 2.70% |
| R1 | 251.97 | 1.44% |
| Price | 248.40 | |
| S1 | 241.83 | -2.65% |
| S2 | 238.69 | -3.91% |
| S3 | 233.62 | -5.95% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 248.40 | |
| S1 | 237.60 | -4.35% |
| S2 | 215.29 | -13.33% |
| S3 | 189.10 | -23.87% |
TEXRAIL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 18, 2023 | Sep 18, 2023 | Oct 25, 2023 | ₹0.150 | 0.128% |
| 2 | Sep 22, 2022 | Sep 22, 2022 | Sep 22, 2022 | ₹0.100 | 0.210% |
| 3 | Sep 16, 2021 | Sep 16, 2021 | Sep 16, 2021 | ₹0.0908 | 0.279% |
| 4 | Sep 23, 2020 | Sep 23, 2020 | Sep 23, 2020 | ₹0.0908 | 0.397% |
| 5 | May 13, 2019 | Aug 22, 2019 | Sep 30, 2019 | ₹0.318 | 0.740% |
FAQ
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