Tilaknagar Industries Ltd. Stock Forecast
Tilaknagar Industries Ltd. stock price ended at ₹236.45 on Friday, after losing 1.79%.
(Updated on May 03, 2024)
The Tilaknagar Industries Ltd. stock price fell by -1.79% on the last day (Friday, 3rd May 2024) from ₹240.75 to ₹236.45. During the last trading day the stock fluctuated 4.34% from a day low at ₹234.05 to a day high of ₹244.20. The price has risen in 5 of the last 10 days and is up by 5.65% over the past 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 -72 thousand shares and in total, 496 thousand shares were bought and sold for approximately ₹117.32 million.
The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ₹240.75 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Tilaknagar Industries Ltd. stock with a 90% probability to be traded between ₹184.40 and ₹240.90 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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TI.NS Signals & Forecast
The Tilaknagar Industries Ltd. 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 ₹235.53 and ₹217.58. A breakdown below any of these levels will issue sell signals. 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 Thursday, May 02, 2024, and so far it has fallen -1.79%. 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 Tilaknagar Industries Ltd. stock
Tilaknagar Industries Ltd. finds support from accumulated volume at ₹233.45 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹10.15 between high and low, or 4.34%. For the last week, the stock has had daily average volatility of 2.86%.
Our recommended stop-loss: ₹225.53 (-4.62%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (TI.NS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Tilaknagar Industries Ltd. to open at ₹238.23, and during the day (based on 14 day Average True Range), to move between ₹227.90 and ₹245.00, which gives a possible trading interval of +/-₹8.55 (+/-3.62%) up or down from last closing price. If Tilaknagar Industries Ltd. takes out the full calculated possible swing range there will be an estimated 7.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹236.90 (0.19%) than the support at ₹233.45 (1.27%), 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 Tilaknagar Industries Ltd. stock A Buy?
Tilaknagar Industries Ltd. 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: 0.966 Hold/Accumulate Unchanged
Predicted Opening Price for Tilaknagar Industries Ltd. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹238.23 ( 0.754%) | ₹236.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TI.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 248.38 | 5.05 % | |
| R2 | 244.51 | 3.41 % | ||
| R1 | 242.11 | 2.39 % | ||
| Current price: | 236.45 | |||
| Support | S1 | 234.36 | -0.89 % | |
| S2 | 231.96 | -1.90 % | ||
| S3 | 228.08 | -3.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 245.95 | 4.02 % | |
| R2 | 242.65 | 2.62 % | ||
| R1 | 236.90 | 0.190 % | ||
| Current price | 236.45 | |||
| Support | S1 | 233.45 | -1.27% | |
| S2 | 229.90 | -2.77% | ||
| S3 | 215.60 | -8.82% |
TI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 19, 2022 | Aug 19, 2022 | Aug 19, 2022 | ₹0.100 | 0.131% |
| 2 | Sep 18, 2014 | Sep 18, 2014 | Sep 18, 2014 | ₹0.80 | 1.76% |
| 3 | May 30, 2013 | Sep 03, 2013 | Sep 18, 2013 | ₹0.80 | 1.37% |
| 4 | May 29, 2012 | Sep 13, 2012 | Sep 28, 2012 | ₹0.80 | 1.54% |
| 5 | May 26, 2011 | Aug 29, 2011 | Sep 15, 2011 | ₹0.80 | 2.40% |
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