Umang Dairies Ltd Stock Forecast
Green day on Friday for Umang Dairies Ltd stock after gaining 4.37%
(Updated on May 17, 2024)
The Umang Dairies Ltd stock price gained 4.37% on the last trading day (Friday, 17th May 2024), rising from ₹90.35 to ₹94.30. During the last trading day the stock fluctuated 4.87% from a day low at ₹91.30 to a day high of ₹95.75. The price has fallen in 6 of the last 10 days but is still up by 1.89% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 86 thousand more shares were traded than the day before. In total, 107 thousand shares were bought and sold for approximately ₹10.04 million.
The stock lies in the middle of a very 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 7.42% during the next 3 months and, with a 90% probability hold a price between ₹83.89 and ₹117.26 at the end of this 3-month period.
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UMANGDAIRY.NS Signals & Forecast
The Umang Dairies 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 ₹90.23 and ₹89.83. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -6.59%. 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 Umang Dairies Ltd stock
Umang Dairies Ltd finds support from accumulated volume at ₹90.50 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 ₹4.45 between high and low, or 4.87%. For the last week, the stock has had daily average volatility of 5.58%.
Our recommended stop-loss: ₹90.17 (-4.38%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (UMANGDAIRY.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Umang Dairies Ltd to open at ₹93.78, and during the day (based on 14 day Average True Range), to move between ₹89.34 and ₹99.26, which gives a possible trading interval of +/-₹4.96 (+/-5.26%) up or down from last closing price. If Umang Dairies Ltd takes out the full calculated possible swing range there will be an estimated 10.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹98.00 (3.92%) than the support at ₹90.50 (4.03%), 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
Umang Dairies Ltd will release earnings BMO on Wednesday, May 22, 2024. We will update the financials statements for Umang Dairies Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.84% in the first trading day after earnings release.
Is Umang Dairies Ltd stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Umang Dairies Ltd stock to perform well in the short-term.
Current score: 3.510 Buy Candidate Unchanged
Predicted Opening Price for Umang Dairies Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹93.78 ( 0.548%) | ₹94.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UMANGDAIRY.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 98.23 | 4.17 % | |
| R2 | 96.53 | 2.37 % | ||
| R1 | 95.48 | 1.25 % | ||
| Current price: | 94.30 | |||
| Support | S1 | 92.08 | -2.35 % | |
| S2 | 91.03 | -3.46 % | ||
| S3 | 89.33 | -5.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 102.50 | 8.70 % | |
| R2 | 100.95 | 7.05 % | ||
| R1 | 98.00 | 3.92 % | ||
| Current price | 94.30 | |||
| Support | S1 | 90.50 | -4.03% | |
| S2 | 88.00 | -6.68% | ||
| S3 | 79.70 | -15.48% |
UMANGDAIRY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 30, 2021 | Aug 30, 2021 | Aug 30, 2021 | ₹0.500 | 0.680% |
| 2 | Sep 08, 2020 | Sep 08, 2020 | Sep 08, 2020 | ₹0.500 | 1.11% |
| 3 | May 13, 2019 | Sep 11, 2019 | Oct 19, 2019 | ₹0.500 | 1.25% |
| 4 | May 03, 2018 | Sep 11, 2018 | Oct 19, 2018 | ₹0.250 | 0.419% |
| 5 | May 12, 2016 | Sep 12, 2016 | Oct 21, 2016 | ₹1.00 | 1.31% |
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