Venus Remedies Limited Stock Forecast
Venus Remedies Limited stock price up 0.84% on Friday
(Updated on Jun 21, 2024)
The Venus Remedies Limited stock price gained 0.84% on the last trading day (Friday, 21st Jun 2024), rising from ₹375.20 to ₹378.35. During the last trading day the stock fluctuated 1.76% from a day low at ₹376.00 to a day high of ₹382.60. The price has risen in 7 of the last 10 days and is up by 20.9% over the past 2 weeks. Volume fell on the last day by -105 thousand shares and in total, 113 thousand shares were bought and sold for approximately ₹42.81 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. ₹356.69 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach ₹423.03 sometime during the next 3 months.
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VENUSREM.NS Signals & Forecast
The Venus Remedies Limited 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 ₹373.49 and ₹319.25. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 30.69%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Venus Remedies Limited stock
Venus Remedies Limited finds support from accumulated volume at ₹375.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹6.60 between high and low, or 1.76%. For the last week, the stock has had daily average volatility of 3.85%.
Our recommended stop-loss: ₹366.85 (-3.04%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 55 days ago.)
Trading Expectations (VENUSREM.NS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Venus Remedies Limited to open at ₹378.98, and during the day (based on 14 day Average True Range), to move between ₹361.68 and ₹395.02, which gives a possible trading interval of +/-₹16.67 (+/-4.41%) up or down from last closing price. If Venus Remedies Limited takes out the full calculated possible swing range there will be an estimated 8.81% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹375.60, some ₹2.75 (0.73%) from the current price of ₹378.35, our system finds the risk reward attractive.
Is Venus Remedies Limited stock A Buy?
Venus Remedies 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Venus Remedies Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ₹378.98 ( 0.167%) | ₹378.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VENUSREM.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 385.58 | 1.91% |
| R2 | 383.06 | 1.25% |
| R1 | 381.50 | 0.83% |
| Price | 378.35 | |
| S1 | 376.46 | -0.499% |
| S2 | 374.90 | -0.91% |
| S3 | 372.38 | -1.58% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 378.35 | |
| S1 | 375.60 | -0.727% |
| S2 | 354.35 | -6.34% |
| S3 | 322.90 | -14.66% |
VENUSREM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 20, 2013 | Sep 23, 2013 | Oct 30, 2013 | ₹3.00 | 1.55% |
| 2 | Jun 21, 2012 | Sep 20, 2012 | Oct 28, 2012 | ₹3.00 | 0.99% |
| 3 | Jul 26, 2011 | Sep 22, 2011 | Oct 30, 2011 | ₹3.00 | 1.37% |
| 4 | Jul 31, 2010 | Sep 23, 2010 | Oct 27, 2010 | ₹3.00 | 1.00% |
| 5 | Aug 21, 2009 | Sep 17, 2009 | Oct 30, 2009 | ₹3.00 | 1.42% |
FAQ
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