Venky's (India) Ltd Stock Forecast
Red day on Monday for Venky's (India) Ltd
(Updated on May 06, 2024)
The Venky's (India) Ltd stock price fell by -0.270% on the last day (Monday, 6th May 2024) from ₹1,812.25 to ₹1,807.35. During the last trading day the stock fluctuated 3.11% from a day low at ₹1,782.55 to a day high of ₹1,838.00. The price has fallen in 5 of the last 10 days but is still up by 1.98% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -3 thousand shares and in total, 13 thousand shares were bought and sold for approximately ₹24.14 million.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ₹1,845.92 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Venky's (India) Ltd stock with a 90% probability to be traded between ₹1,520.53 and ₹1,831.03 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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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 ₹1,803.73 and ₹1,726.12. A breakdown below any of these levels will issue sell signals. 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 -2.34%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
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.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹55.45 between high and low, or 3.11%. For the last week the stock has had daily average volatility of 2.29%.
Our recommended stop-loss: ₹1,737.46 (-3.87%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (VENKEYS.NS) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Venky's (India) Ltd to open at ₹1,809.30, and during the day (based on 14 day Average True Range), to move between ₹1,758.23 and ₹1,856.47, which gives a possible trading interval of +/-₹49.12 (+/-2.72%) 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 5.44% 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 (0.91%) than the resistance at ₹1,830.70 (1.29%), 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
Venky's (India) Ltd will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for Venky's (India) Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.59% in the first trading day after earnings release.
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: -0.868 Hold/Accumulate Unchanged
Predicted Opening Price for Venky's (India) Ltd of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ₹1,809.30 ( 0.108%) | ₹1,807.35 |
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 | 1,864.75 | 3.18 % | |
| R2 | 1,843.57 | 2.00 % | ||
| R1 | 1,830.48 | 1.28 % | ||
| Current price: | 1,807.35 | |||
| Support | S1 | 1,788.12 | -1.06 % | |
| S2 | 1,775.03 | -1.79 % | ||
| S3 | 1,753.85 | -2.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,837.05 | 1.64 % | |
| R2 | 1,834.15 | 1.48 % | ||
| R1 | 1,830.70 | 1.29 % | ||
| Current price | 1,807.35 | |||
| Support | S1 | 1,790.95 | -0.91% | |
| S2 | 1,745.60 | -3.42% | ||
| S3 | 1,732.75 | -4.13% |
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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