Tamil Nadu Newsprint and Papers Limited Stock Forecast
Tamil Nadu Newsprint and Papers Limited stock price down 1.90% on Friday
(Updated on Jun 21, 2024)
The Tamil Nadu Newsprint and Papers Limited stock price fell by -1.90% on the last day (Friday, 21st Jun 2024) from ₹281.10 to ₹275.75. During the last trading day the stock fluctuated 2.68% from a day low at ₹274.50 to a day high of ₹281.85. The price has risen in 7 of the last 10 days and is up by 12.74% 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 -3 thousand shares and in total, 21 thousand shares were bought and sold for approximately ₹5.75 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Tamil Nadu Newsprint and Papers Limited stock with a 90% probability to be traded between ₹232.00 and ₹290.37 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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TNPL.BO Signals & Forecast
The Tamil Nadu Newsprint and Papers 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 ₹273.57 and ₹265.88. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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, June 20, 2024, and so far it has fallen -1.90%. Further fall is indicated until a new bottom pivot has been found. 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 Tamil Nadu Newsprint and Papers Limited stock
Tamil Nadu Newsprint and Papers Limited finds support from accumulated volume at ₹262.55 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 ₹7.35 between high and low, or 2.68%. For the last week, the stock has had daily average volatility of 4.25%.
Our recommended stop-loss: ₹264.76 (-3.98%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (TNPL.BO) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Tamil Nadu Newsprint and Papers Limited to open at ₹277.37, and during the day (based on 14 day Average True Range), to move between ₹265.87 and ₹285.63, which gives a possible trading interval of +/-₹9.88 (+/-3.58%) up or down from last closing price. If Tamil Nadu Newsprint and Papers Limited takes out the full calculated possible swing range there will be an estimated 7.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹278.45 (0.98%) than the support at ₹262.55 (4.79%), 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 Tamil Nadu Newsprint and Papers Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Tamil Nadu Newsprint and Papers Limited stock to perform well in the short-term period.
Current score: 1.054 Buy Candidate Unchanged
Predicted Opening Price for Tamil Nadu Newsprint and Papers Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ₹277.37 ( 0.586%) | ₹275.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TNPL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 284.72 | 3.25% |
| R2 | 281.91 | 2.23% |
| R1 | 280.17 | 1.60% |
| Price | 275.75 | |
| S1 | 274.56 | -0.432% |
| S2 | 272.82 | -1.06% |
| S3 | 270.02 | -2.08% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 290.30 | 5.28% |
| R2 | 288.45 | 4.61% |
| R1 | 278.45 | 0.98% |
| Price | 275.75 | |
| S1 | 262.55 | -4.79% |
| S2 | 255.40 | -7.38% |
| S3 | 250.70 | -9.08% |
TNPL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 20, 2024 | Sep 20, 2024 | Oct 27, 2024 | ₹1.00 | 0.363% |
| 2 | Feb 13, 2024 | Feb 13, 2024 | Feb 13, 2024 | ₹3.00 | 1.11% |
| 3 | Sep 18, 2023 | Sep 18, 2023 | Oct 25, 2023 | ₹5.00 | 1.85% |
| 4 | Sep 13, 2022 | Sep 13, 2022 | Oct 22, 2022 | ₹4.00 | 1.65% |
| 5 | Sep 11, 2017 | Sep 11, 2017 | Sep 22, 2017 | ₹7.50 | 2.11% |
FAQ
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