Transwarranty Finance Limited Stock Forecast
Transwarranty Finance Limited stock price up 1.98% on Thursday
(Updated on Jun 20, 2024)
The Transwarranty Finance Limited stock price gained 1.98% on the last trading day (Thursday, 20th Jun 2024), rising from ₹21.75 to ₹22.18. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 0% from a day low at ₹22.18 to a day high of ₹22.18. The price has risen in 6 of the last 10 days and is up by 2.83% over the past 2 weeks. Volume fell on the last day by -12 thousand shares and in total, 221 shares were bought and sold for approximately ₹4.90 thousand. 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 lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 120.05% during the next 3 months and, with a 90% probability hold a price between ₹42.82 and ₹55.81 at the end of this 3-month period.
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TFL.BO Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, June 03, 2024, and so far it has fallen -1.20%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The Transwarranty Finance 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 ₹20.96 and ₹18.87. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Transwarranty Finance Limited stock
Transwarranty Finance Limited finds support from accumulated volume at ₹21.79 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.83%.
Since the Transwarranty Finance Limited has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: ₹21.37 (-3.64%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 26 days ago.)
Trading Expectations (TFL.BO) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Transwarranty Finance Limited to open at ₹22.18, and during the day (based on 14 day Average True Range), to move between ₹21.55 and ₹22.81, which gives a possible trading interval of +/-₹0.629 (+/-2.83%) up or down from last closing price. If Transwarranty Finance Limited takes out the full calculated possible swing range there will be an estimated 5.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹22.22 (0.18%) than the support at ₹21.79 (1.76%), 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 Transwarranty Finance 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 Transwarranty Finance Limited stock to perform well in the short-term.
Current score: 2.852 Buy Candidate Unchanged
Predicted Opening Price for Transwarranty Finance Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| ₹22.18 ( 0.00000000%) | ₹22.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TFL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.18 | 0.00000000% |
| R2 | 22.18 | 0.00000000% |
| R1 | 22.18 | 0.00000000% |
| Price | 22.18 | |
| S1 | 22.18 | 0.00000000% |
| S2 | 22.18 | 0.00000000% |
| S3 | 22.18 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.45 | 1.22% |
| R2 | 22.30 | 0.541% |
| R1 | 22.22 | 0.180% |
| Price | 22.18 | |
| S1 | 21.79 | -1.76% |
| S2 | 21.37 | -3.65% |
| S3 | 18.09 | -18.44% |
TFL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 04, 2012 | Sep 04, 2012 | Sep 04, 2012 | ₹0.500 | 6.33% |
| 2 | Jul 24, 2009 | Jul 24, 2009 | Jul 24, 2009 | ₹0.300 | 2.69% |
| 3 | Jul 28, 2008 | Jul 28, 2008 | Jul 28, 2008 | ₹1.00 | 4.78% |
| 4 | Jul 23, 2007 | Jul 23, 2007 | Jul 23, 2007 | ₹1.00 | 3.08% |
FAQ
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