Vardhman Holdings Limited Stock Forecast
Vardhman Holdings Limited stock upgraded from Hold/Accumulate to Strong Buy Candidate after Friday trading session.
(Updated on Jun 14, 2024)
The Vardhman Holdings Limited stock price gained 2.93% on the last trading day (Friday, 14th Jun 2024), rising from ₹3,138.90 to ₹3,230.75. During the last trading day the stock fluctuated 2.35% from a day low at ₹3,166.90 to a day high of ₹3,241.45. The price has risen in 6 of the last 10 days and is up by 10% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 86 more shares were traded than the day before. In total, 185 shares were bought and sold for approximately ₹597.69 thousand.
The stock lies in the upper part of a wide and weak rising 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 ₹3,297.78 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 5.06% during the next 3 months and, with a 90% probability hold a price between ₹3,037.05 and ₹3,464.72 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
VHL.BO Signals & Forecast
Mostly positive signals in the chart today. The Vardhman Holdings 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 ₹3,085.46 and ₹3,043.27. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 05, 2024, and so far it has risen 12.51%. 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). Vardhman Holdings Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Vardhman Holdings Limited stock
Vardhman Holdings Limited finds support from accumulated volume at ₹3,079.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹74.55 (2.35%) between high and low. For the last week, the stock has had daily average volatility of 4.17%.
Our recommended stop-loss: ₹3,111.21 (-3.70%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (VHL.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Vardhman Holdings Limited to open at ₹3,213.03, and during the day (based on 14 day Average True Range), to move between ₹3,138.51 and ₹3,322.99, which gives a possible trading interval of +/-₹92.24 (+/-2.86%) up or down from last closing price. If Vardhman Holdings Limited takes out the full calculated possible swing range there will be an estimated 5.71% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹3,079.50, some ₹151.25 (4.68%) from the current price of ₹3,230.75, our system finds the risk reward attractive.
Is Vardhman Holdings Limited stock A Buy?
Vardhman Holdings Limited holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 5.458 Strong Buy Candidate Upgraded
Predicted Opening Price for Vardhman Holdings Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹3,213.03 ( 0.548%) | ₹3,230.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VHL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,287.58 | 1.76% |
| R2 | 3,259.11 | 0.88% |
| R1 | 3,241.51 | 0.333% |
| Price | 3,230.75 | |
| S1 | 3,184.56 | -1.43% |
| S2 | 3,166.96 | -1.97% |
| S3 | 3,138.48 | -2.86% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 3,230.75 | |
| S1 | 3,079.50 | -4.68% |
| S2 | 3,035.90 | -6.03% |
| S3 | 2,817.65 | -12.79% |
VHL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 15, 2023 | Sep 15, 2023 | Oct 30, 2023 | ₹5.00 | 0.177% |
| 2 | Sep 16, 2022 | Sep 16, 2022 | Oct 30, 2022 | ₹5.00 | 0.162% |
| 3 | Sep 07, 2017 | Sep 07, 2017 | Oct 22, 2017 | ₹5.00 | 0.145% |
| 4 | Aug 11, 2016 | Aug 11, 2016 | Aug 11, 2016 | ₹3.00 | 0.230% |
| 5 | Aug 05, 2015 | Aug 05, 2015 | Aug 05, 2015 | ₹3.00 | 0.292% |
FAQ
Click here for our free guide on how to buy Vardhman Holdings Limited Stock.
