Vadilal Enterprises Limited Stock Forecast
Red day on Friday for Vadilal Enterprises Limited stock after losing 4.19%
(Updated on May 24, 2024)
The Vadilal Enterprises Limited stock price fell by -4.19% on the last day (Friday, 24th May 2024) from ₹3,749.00 to ₹3,591.90. During the last trading day the stock fluctuated 5.01% from a day low at ₹3,561.55 to a day high of ₹3,740.00. The price has risen in 6 of the last 10 days but is still down by -7.9% for this period. Volume has increased on the last day by 35 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 46 shares were bought and sold for approximately ₹165.23 thousand.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹3,563.68 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 12.48% during the next 3 months and, with a 90% probability hold a price between ₹4,008.53 and ₹4,935.13 at the end of this 3-month period.
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VADILENT.BO Signals & Forecast
There are few to no technical positive signals at the moment. The Vadilal Enterprises Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹3,731.34 and ₹3,924.39. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -13.50%. 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). Vadilal Enterprises Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Vadilal Enterprises Limited stock
Vadilal Enterprises Limited finds support from accumulated volume at ₹3,581.80 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 ₹178.45 between high and low, or 5.01%. For the last week, the stock has had daily average volatility of 2.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VADILENT.BO) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect Vadilal Enterprises Limited to open at ₹3,631.15, and during the day (based on 14 day Average True Range), to move between ₹3,440.72 and ₹3,743.08, which gives a possible trading interval of +/-₹151.18 (+/-4.21%) up or down from last closing price. If Vadilal Enterprises Limited takes out the full calculated possible swing range there will be an estimated 8.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹3,581.80 (0.28%) than the resistance at ₹3,625.00 (0.92%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Vadilal Enterprises Limited stock A Buy?
The Vadilal Enterprises Limited stock holds several negative signals and despite the positive trend, we believe Vadilal Enterprises Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.584 Sell Candidate Unchanged
Predicted Opening Price for Vadilal Enterprises Limited of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| ₹3,631.15 ( 1.09%) | ₹3,591.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VADILENT.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,809.60 | 6.06 % | |
| R2 | 3,741.43 | 4.16 % | ||
| R1 | 3,699.32 | 2.99 % | ||
| Current price: | 3,591.90 | |||
| Support | S1 | 3,562.98 | -0.81 % | |
| S2 | 3,520.87 | -1.98 % | ||
| S3 | 3,452.70 | -3.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,065.85 | 13.19 % | |
| R2 | 3,730.85 | 3.87 % | ||
| R1 | 3,625.00 | 0.92 % | ||
| Current price | 3,591.90 | |||
| Support | S1 | 3,581.80 | -0.281% | |
| S2 | 3,325.00 | -7.43% | ||
| S3 | 3,310.00 | -7.85% |
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