V2 Retail Limited Stock Forecast
V2 Retail Limited stock upgraded to Hold/Accumulate.
(Updated on May 17, 2024)
The V2 Retail Limited stock price gained 1.84% on the last trading day (Friday, 17th May 2024), rising from ₹469.35 to ₹478.00. During the last trading day the stock fluctuated 3.19% from a day low at ₹470.00 to a day high of ₹485.00. The price has fallen in 6 of the last 10 days and is down by -3.25% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 thousand more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately ₹869.48 thousand.
The stock lies in the middle of a very 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 35.33% during the next 3 months and, with a 90% probability hold a price between ₹609.79 and ₹781.66 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
V2RETAIL.BO Signals & Forecast
The V2 Retail Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹458.97 and ₹477.03. A breakdown below any of these levels will issue sell signals. V2 Retail Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Wednesday, April 24, 2024, and so far it has fallen -10.70%. 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 V2 Retail Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹434.00 and ₹381.10. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, V2 Retail Limited finds support just below today's level at ₹434.00. If this is broken, then the next support from accumulated volume will be at ₹381.10 and ₹366.45.
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 ₹15.00 between high and low, or 3.19%. For the last week, the stock has had daily average volatility of 4.85%.
Our recommended stop-loss: ₹453.64 (-5.10%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (V2RETAIL.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect V2 Retail Limited to open at ₹477.67, and during the day (based on 14 day Average True Range), to move between ₹454.06 and ₹501.94, which gives a possible trading interval of +/-₹23.94 (+/-5.01%) up or down from last closing price. If V2 Retail Limited takes out the full calculated possible swing range there will be an estimated 10.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹483.80 (1.21%) than the support at ₹434.00 (9.21%), 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
V2 Retail Limited will release earnings BMO on Thursday, May 23, 2024. We will update the financials statements for V2 Retail Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.57% in the first trading day after earnings release.
Is V2 Retail Limited stock A Buy?
V2 Retail Limited 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.137 Hold/Accumulate Upgraded
Predicted Opening Price for V2 Retail Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹477.67 ( 0.0697%) | ₹478.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for V2RETAIL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 492.67 | 3.07 % | |
| R2 | 486.94 | 1.87 % | ||
| R1 | 483.40 | 1.13 % | ||
| Current price: | 478.00 | |||
| Support | S1 | 471.94 | -1.27 % | |
| S2 | 468.40 | -2.01 % | ||
| S3 | 462.67 | -3.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 511.85 | 7.08 % | |
| R2 | 505.10 | 5.67 % | ||
| R1 | 483.80 | 1.21 % | ||
| Current price | 478.00 | |||
| Support | S1 | 434.00 | -9.21% | |
| S2 | 381.10 | -20.27% | ||
| S3 | 366.45 | -23.34% |
FAQ
Click here for our free guide on how to buy V2 Retail Limited Stock.
