Vinyl Chemicals (India) Ltd. Stock Forecast
Vinyl Chemicals (India) Ltd. stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 26, 2024)
The Vinyl Chemicals (India) Ltd. stock price gained 0.771% on the last trading day (Friday, 26th Apr 2024), rising from ₹382.40 to ₹385.35. During the last trading day the stock fluctuated 1.96% from a day low at ₹382.50 to a day high of ₹390.00. The price has risen in 6 of the last 10 days but is still down by -0.59% for this period. Volume fell on the last day by -2 thousand shares and in total, 21 thousand shares were bought and sold for approximately ₹8.16 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 lies the upper part of a very 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 ₹398.99 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 -10.63% during the next 3 months and, with a 90% probability hold a price between ₹268.94 and ₹356.58 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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VINYLINDIA.NS Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -6.21%. 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). The Vinyl Chemicals (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 ₹383.67 and ₹368.23. A breakdown below any of these levels will issue sell signals. 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 Vinyl Chemicals (India) Ltd. stock
Vinyl Chemicals (India) Ltd. finds support from accumulated volume at ₹381.25 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 ₹7.50 between high and low, or 1.96%. For the last week, the stock has had daily average volatility of 2.16%.
Our recommended stop-loss: ₹368.24 (-4.44%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (VINYLINDIA.NS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Vinyl Chemicals (India) Ltd. to open at ₹385.95, and during the day (based on 14 day Average True Range), to move between ₹370.78 and ₹399.92, which gives a possible trading interval of +/-₹14.57 (+/-3.78%) up or down from last closing price. If Vinyl Chemicals (India) Ltd. takes out the full calculated possible swing range there will be an estimated 7.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹387.65 (0.60%) than the support at ₹381.25 (1.06%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Vinyl Chemicals (India) Ltd. will release earnings BMO on Thursday, May 02, 2024. We will update the financials statements for Vinyl Chemicals (India) Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.14% in the first trading day after earnings release.
Is Vinyl Chemicals (India) Ltd. stock A Buy?
Vinyl Chemicals (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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.625 Hold/Accumulate Upgraded
Predicted Opening Price for Vinyl Chemicals (India) Ltd. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ₹385.95 ( 0.156%) | ₹385.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VINYLINDIA.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 393.45 | 2.10 % | |
| R2 | 390.59 | 1.36 % | ||
| R1 | 388.82 | 0.90 % | ||
| Current price: | 385.35 | |||
| Support | S1 | 383.09 | -0.588 % | |
| S2 | 381.32 | -1.05 % | ||
| S3 | 378.45 | -1.79 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 410.85 | 6.62 % | |
| R2 | 405.55 | 5.24 % | ||
| R1 | 387.65 | 0.597 % | ||
| Current price | 385.35 | |||
| Support | S1 | 381.25 | -1.06% | |
| S2 | 379.10 | -1.62% | ||
| S3 | 317.25 | -17.67% |
VINYLINDIA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 26, 2023 | Jul 26, 2023 | Jul 26, 2023 | ₹5.00 | 1.01% |
| 2 | Jul 29, 2022 | Jul 29, 2022 | Jul 29, 2022 | ₹5.00 | 1.41% |
| 3 | Aug 04, 2021 | Aug 04, 2021 | Aug 04, 2021 | ₹3.75 | 2.37% |
| 4 | Jun 15, 2020 | Aug 31, 2020 | Sep 16, 2020 | ₹2.40 | 2.23% |
| 5 | May 13, 2019 | Jul 26, 2019 | Aug 08, 2019 | ₹2.40 | 3.81% |
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