Vardhman Acrylics Limited Stock Forecast
Red day on Thursday for Vardhman Acrylics Limited
(Updated on Apr 18, 2024)
The Vardhman Acrylics Limited stock price fell by -1.32% on the last day (Thursday, 18th Apr 2024) from ₹56.85 to ₹56.10. During the last trading day the stock fluctuated 2.14% from a day low at ₹56.10 to a day high of ₹57.30. The price has risen in 6 of the last 10 days but is still down by -1.32% for this period. Volume has increased on the last day by 19 thousand 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, 80 thousand shares were bought and sold for approximately ₹4.49 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -19.17% during the next 3 months and, with a 90% probability hold a price between ₹38.68 and ₹49.59 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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VARDHACRLC.NS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 10.00%. Further rise is indicated until a new top pivot has been found. 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. The Vardhman Acrylics 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 ₹56.79 and ₹57.58. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Vardhman Acrylics Limited stock
Vardhman Acrylics Limited finds support from accumulated volume at ₹55.05 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 ₹1.20 between high and low, or 2.14%. For the last week, the stock has had daily average volatility of 2.62%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VARDHACRLC.NS) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Vardhman Acrylics Limited to open at ₹56.50, and during the day (based on 14 day Average True Range), to move between ₹53.69 and ₹58.51, which gives a possible trading interval of +/-₹2.41 (+/-4.29%) up or down from last closing price. If Vardhman Acrylics Limited takes out the full calculated possible swing range there will be an estimated 8.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹55.05 (1.87%) than the resistance at ₹65.40 (16.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Vardhman Acrylics Limited will release earnings BMO on Monday, April 22, 2024. We will update the financials statements for Vardhman Acrylics Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.37% in the first trading day after earnings release.
Is Vardhman Acrylics Limited stock A Buy?
Vardhman Acrylics Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.468 Sell Candidate Unchanged
Predicted Opening Price for Vardhman Acrylics Limited of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| ₹56.50 ( 0.713%) | ₹56.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VARDHACRLC.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 57.70 | 2.85 % | |
| R2 | 57.24 | 2.03 % | ||
| R1 | 56.96 | 1.53 % | ||
| Current price: | 56.10 | |||
| Support | S1 | 56.04 | -0.104 % | |
| S2 | 55.76 | -0.609 % | ||
| S3 | 55.30 | -1.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 70.00 | 24.78 % | |
| R2 | 68.90 | 22.82 % | ||
| R1 | 65.40 | 16.58 % | ||
| Current price | 56.10 | |||
| Support | S1 | 55.05 | -1.87% | |
| S2 | 51.80 | -7.66% | ||
| S3 | 51.00 | -9.09% |
VARDHACRLC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 28, 2021 | Oct 28, 2021 | Oct 28, 2021 | ₹25.00 | 44.17% |
| 2 | May 06, 2019 | Sep 18, 2019 | Oct 30, 2019 | ₹2.50 | 6.82% |
| 3 | May 03, 2018 | Sep 12, 2018 | Oct 27, 2018 | ₹2.00 | 5.19% |
| 4 | May 03, 2017 | Sep 07, 2017 | Oct 22, 2017 | ₹1.50 | 3.35% |
| 5 | Mar 07, 2016 | Mar 17, 2016 | Jun 01, 2016 | ₹5.00 | 15.60% |
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