Tamil Nadu Newsprint and Papers Limited Stock Forecast
Tamil Nadu Newsprint and Papers Limited stock upgraded to Hold/Accumulate.
(Updated on May 17, 2024)
The Tamil Nadu Newsprint and Papers Limited stock price gained 0.261% on the last trading day (Friday, 17th May 2024), rising from ₹268.50 to ₹269.20. During the last trading day the stock fluctuated 2.99% from a day low at ₹268.00 to a day high of ₹276.00. The price has fallen in 6 of the last 10 days and is down by -6.82% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 56 thousand more shares were traded than the day before. In total, 185 thousand shares were bought and sold for approximately ₹49.89 million.
The stock lies in the middle of a wide and weak 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 3.55% during the next 3 months and, with a 90% probability hold a price between ₹261.30 and ₹302.47 at the end of this 3-month period.
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TNPL.NS Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Tamil Nadu Newsprint and Papers Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹272.49 and ₹269.80. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -7.25%. 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).
Support, Risk & Stop-loss for Tamil Nadu Newsprint and Papers Limited stock
Tamil Nadu Newsprint and Papers Limited finds support from accumulated volume at ₹257.20 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 ₹8.00 between high and low, or 2.99%. For the last week, the stock has had daily average volatility of 2.98%.
Our recommended stop-loss: ₹254.70 (-5.39%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (TNPL.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Tamil Nadu Newsprint and Papers Limited to open at ₹271.07, and during the day (based on 14 day Average True Range), to move between ₹261.16 and ₹277.24, which gives a possible trading interval of +/-₹8.04 (+/-2.99%) 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 5.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹281.20 (4.46%) than the support at ₹257.20 (4.46%), 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.
Earnings coming up
Tamil Nadu Newsprint and Papers Limited will release earnings BMO on Friday, May 24, 2024. We will update the financials statements for Tamil Nadu Newsprint and Papers Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.49% in the first trading day after earnings release.
Is Tamil Nadu Newsprint and Papers Limited stock A Buy?
Tamil Nadu Newsprint and Papers Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.339 Hold/Accumulate Upgraded
Predicted Opening Price for Tamil Nadu Newsprint and Papers Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹271.07 ( 0.693%) | ₹269.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TNPL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 279.07 | 3.67 % | |
| R2 | 276.01 | 2.53 % | ||
| R1 | 274.12 | 1.83 % | ||
| Current price: | 269.20 | |||
| Support | S1 | 268.01 | -0.442 % | |
| S2 | 266.12 | -1.14 % | ||
| S3 | 263.07 | -2.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 290.25 | 7.82 % | |
| R2 | 288.90 | 7.32 % | ||
| R1 | 281.20 | 4.46 % | ||
| Current price | 269.20 | |||
| Support | S1 | 257.20 | -4.46% | |
| S2 | 250.75 | -6.85% | ||
| S3 | 250.25 | -7.04% |
TNPL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 13, 2024 | Feb 13, 2024 | Feb 23, 2024 | ₹3.00 | 1.12% |
| 2 | Sep 18, 2023 | Sep 18, 2023 | Sep 18, 2023 | ₹5.00 | 1.87% |
| 3 | Sep 13, 2022 | Sep 13, 2022 | Sep 13, 2022 | ₹4.00 | 1.59% |
| 4 | Sep 14, 2021 | Sep 14, 2021 | Sep 14, 2021 | ₹3.00 | 2.25% |
| 5 | Sep 09, 2020 | Sep 09, 2020 | Sep 09, 2020 | ₹6.00 | 5.21% |
FAQ
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