Thangamayil Jewellery Limited Stock Forecast
Thangamayil Jewellery Limited stock downgraded to Sell Candidate
(Updated on Apr 25, 2024)
The Thangamayil Jewellery Limited stock price fell by -1.00% on the last day (Thursday, 25th Apr 2024) from ₹1,330.90 to ₹1,317.60. During the last trading day the stock fluctuated 2.67% from a day low at ₹1,310.00 to a day high of ₹1,345.00. The price has been going up and down for this period, and there has been a 1.52% gain for the last 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 -274 shares and in total, 8 thousand shares were bought and sold for approximately ₹10.25 million.
The stock lies the upper part of a wide and falling 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 ₹1,330.73 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -6.08% during the next 3 months and, with a 90% probability hold a price between ₹1,046.65 and ₹1,249.78 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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THANGAMAYL.NS Signals & Forecast
The Thangamayil Jewellery 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 ₹1,325.73. On a fall, the stock will find some support from the long-term average at approximately ₹1,277.24. 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. 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 Tuesday, April 16, 2024, and so far it has fallen -1.63%. 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 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 Thangamayil Jewellery Limited stock
Thangamayil Jewellery Limited finds support from accumulated volume at ₹1,310.05 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 ₹35.00 (2.67%) between high and low. For the last week, the stock has had daily average volatility of 2.78%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (THANGAMAYL.NS) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Thangamayil Jewellery Limited to open at ₹1,324.20, and during the day (based on 14 day Average True Range), to move between ₹1,271.17 and ₹1,364.03, which gives a possible trading interval of +/-₹46.43 (+/-3.52%) up or down from last closing price. If Thangamayil Jewellery Limited takes out the full calculated possible swing range there will be an estimated 7.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹1,310.05 (0.57%) than the resistance at ₹1,339.50 (1.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Thangamayil Jewellery Limited stock A Buy?
Thangamayil Jewellery 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: -1.671 Sell Candidate Downgraded
Predicted Opening Price for Thangamayil Jewellery Limited of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
₹1,324.20 ( 0.501%) | ₹1,317.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for THANGAMAYL.NS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,359.20 | 3.16 % | |
R2 | 1,345.83 | 2.14 % | ||
R1 | 1,337.57 | 1.52 % | ||
Current price: | 1,317.60 | |||
Support | S1 | 1,310.83 | -0.514 % | |
S2 | 1,302.57 | -1.14 % | ||
S3 | 1,289.20 | -2.16 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,420.35 | 7.80 % | |
R2 | 1,394.30 | 5.82 % | ||
R1 | 1,339.50 | 1.66 % | ||
Current price | 1,317.60 | |||
Support | S1 | 1,310.05 | -0.573% | |
S2 | 1,255.45 | -4.72% | ||
S3 | 1,214.25 | -7.84% |
THANGAMAYL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 12, 2024 | Feb 12, 2024 | Feb 25, 2024 | ₹4.00 | 0.301% |
2 | Jul 17, 2023 | Jul 17, 2023 | Jul 17, 2023 | ₹6.00 | 0.695% |
3 | Jun 27, 2023 | Jun 27, 2023 | Jun 27, 2023 | ₹3.00 | 0.403% |
4 | Feb 01, 2023 | Feb 01, 2023 | Feb 01, 2023 | ₹6.00 | 1.14% |
5 | Jul 27, 2022 | Jul 27, 2022 | Jul 27, 2022 | ₹5.00 | 0.89% |
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