Tilaknagar Industries Ltd. Stock Forecast
Tilaknagar Industries Ltd. stock upgraded from Strong Sell Candidate to Buy Candidate after Thursday trading session.
(Updated on May 23, 2024)
The Tilaknagar Industries Ltd. stock price gained 1.78% on the last trading day (Thursday, 23rd May 2024), rising from ₹227.15 to ₹231.20. During the last trading day the stock fluctuated 3.84% from a day low at ₹226.60 to a day high of ₹235.30. The price has risen in 6 of the last 10 days and is up by 4.1% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 816 thousand shares were bought and sold for approximately ₹188.62 million. 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 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 16.19% during the next 3 months and, with a 90% probability hold a price between ₹246.88 and ₹289.99 at the end of this 3-month period.
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TI.NS Signals & Forecast
A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -3.97%. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. The Tilaknagar Industries Ltd. 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 ₹232.66. On a fall, the stock will find some support from the long-term average at approximately ₹228.54. 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. 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 Tilaknagar Industries Ltd. stock
Tilaknagar Industries Ltd. finds support from accumulated volume at ₹230.50 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 ₹8.70 (3.84%) between high and low. For the last week, the stock has had daily average volatility of 3.68%.
Our recommended stop-loss: ₹218.25 (-5.60%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 48 days ago.)
Trading Expectations (TI.NS) For The Upcoming Trading Day Of Friday 24th
For the upcoming trading day on Friday, 24th we expect Tilaknagar Industries Ltd. to open at ₹231.03, and during the day (based on 14 day Average True Range), to move between ₹221.79 and ₹240.61, which gives a possible trading interval of +/-₹9.41 (+/-4.07%) up or down from last closing price. If Tilaknagar Industries Ltd. takes out the full calculated possible swing range there will be an estimated 8.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹230.50 (0.30%) than the resistance at ₹233.40 (0.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tilaknagar Industries Ltd. stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Buy candidate.
Current score: 1.502 Buy Candidate Upgraded
Predicted Opening Price for Tilaknagar Industries Ltd. of Friday, May 24, 2024
| Fair opening price May 24, 2024 | Current price |
|---|---|
| ₹231.03 ( 0.0721%) | ₹231.20 |
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 | 239.73 | 3.69 % | |
| R2 | 236.41 | 2.25 % | ||
| R1 | 234.36 | 1.37 % | ||
| Current price: | 231.20 | |||
| Support | S1 | 227.71 | -1.51 % | |
| S2 | 225.66 | -2.40 % | ||
| S3 | 222.33 | -3.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 236.90 | 2.47 % | |
| R2 | 235.75 | 1.97 % | ||
| R1 | 233.40 | 0.95 % | ||
| Current price | 231.20 | |||
| Support | S1 | 230.50 | -0.303% | |
| S2 | 227.15 | -1.75% | ||
| S3 | 215.60 | -6.75% |
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% |
FAQ
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