Venky's (India) Ltd Stock Forecast
Venky's (India) Ltd stock price up 1.22% on Friday
(Updated on Apr 26, 2024)
The Venky's (India) Ltd stock price gained 1.22% on the last trading day (Friday, 26th Apr 2024), rising from ₹1,782.90 to ₹1,804.65. During the last trading day the stock fluctuated 3.12% from a day low at ₹1,779.45 to a day high of ₹1,835.00. The price has fallen in 6 of the last 10 days and is down by -1.76% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 18 thousand more shares were traded than the day before. In total, 32 thousand shares were bought and sold for approximately ₹57.38 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹1,812.22 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -8.94% during the next 3 months and, with a 90% probability hold a price between ₹1,350.41 and ₹1,650.27 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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VENKEYS.NS Signals & Forecast
The Venky's (India) 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 ₹1,777.22 and ₹1,714.75. 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 Monday, April 08, 2024, and so far it has fallen -2.49%. 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 Venky's (India) Ltd stock
Venky's (India) Ltd finds support from accumulated volume at ₹1,790.95 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 ₹55.55 between high and low, or 3.12%. For the last week, the stock has had daily average volatility of 2.29%.
Our recommended stop-loss: ₹1,724.37 (-4.45%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (VENKEYS.NS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Venky's (India) Ltd to open at ₹1,806.37, and during the day (based on 14 day Average True Range), to move between ₹1,751.87 and ₹1,857.43, which gives a possible trading interval of +/-₹52.78 (+/-2.92%) up or down from last closing price. If Venky's (India) Ltd takes out the full calculated possible swing range there will be an estimated 5.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹1,790.95 (0.76%) than the resistance at ₹1,830.70 (1.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Venky's (India) Ltd stock A Buy?
Venky's (India) Ltd 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.
Current score: 0.627 Hold/Accumulate Unchanged
Predicted Opening Price for Venky's (India) Ltd of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ₹1,806.37 ( 0.0951%) | ₹1,804.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VENKEYS.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,861.92 | 3.17 % | |
| R2 | 1,840.70 | 2.00 % | ||
| R1 | 1,827.59 | 1.27 % | ||
| Current price: | 1,804.65 | |||
| Support | S1 | 1,785.15 | -1.08 % | |
| S2 | 1,772.04 | -1.81 % | ||
| S3 | 1,750.82 | -2.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,984.35 | 9.96 % | |
| R2 | 1,837.05 | 1.80 % | ||
| R1 | 1,830.70 | 1.44 % | ||
| Current price | 1,804.65 | |||
| Support | S1 | 1,790.95 | -0.759% | |
| S2 | 1,745.60 | -3.27% | ||
| S3 | 1,732.75 | -3.98% |
VENKEYS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 08, 2023 | Sep 08, 2023 | Sep 08, 2023 | ₹6.00 | 0.298% |
| 2 | Sep 08, 2022 | Sep 08, 2022 | Sep 08, 2022 | ₹13.00 | 0.608% |
| 3 | Jul 22, 2021 | Jul 22, 2021 | Jul 22, 2021 | ₹17.00 | 0.548% |
| 4 | May 10, 2019 | Sep 19, 2019 | Oct 27, 2019 | ₹8.00 | 0.470% |
| 5 | May 03, 2018 | Sep 06, 2018 | Oct 26, 2018 | ₹8.00 | 0.344% |
FAQ
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