Visaka Industries Limited Stock Forecast
Visaka Industries Limited stock price down 0.325% on Tuesday
(Updated on Apr 23, 2024)
The Visaka Industries Limited stock price fell by -0.325% on the last day (Tuesday, 23rd Apr 2024) from ₹107.80 to ₹107.45. During the last trading day the stock fluctuated 2.74% from a day low at ₹105.80 to a day high of ₹108.70. The price has fallen in 7 of the last 10 days and is down by -9.09% for this period. 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 -115 thousand shares and in total, 196 thousand shares were bought and sold for approximately ₹21.02 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -20.98% during the next 3 months and, with a 90% probability hold a price between ₹69.52 and ₹112.51 at the end of this 3-month period.
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VISAKAIND.NS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 3.32%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Visaka Industries Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹109.07 and ₹114.02. A break-up above any of these levels will issue buy signals. 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 Visaka Industries Limited stock
Visaka Industries Limited finds support from accumulated volume at ₹106.80 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 ₹2.90 between high and low, or 2.74%. For the last week, the stock has had daily average volatility of 4.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VISAKAIND.NS) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Visaka Industries Limited to open at ₹107.32, and during the day (based on 14 day Average True Range), to move between ₹102.03 and ₹112.87, which gives a possible trading interval of +/-₹5.42 (+/-5.04%) up or down from last closing price. If Visaka Industries Limited takes out the full calculated possible swing range there will be an estimated 10.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹106.80 (0.60%) than the resistance at ₹116.00 (7.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Visaka Industries Limited stock A Buy?
Visaka Industries Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.598 Sell Candidate Unchanged
Predicted Opening Price for Visaka Industries Limited of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| ₹107.32 ( 0.124%) | ₹107.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VISAKAIND.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 110.22 | 2.57 % | |
| R2 | 109.11 | 1.54 % | ||
| R1 | 108.42 | 0.91 % | ||
| Current price: | 107.45 | |||
| Support | S1 | 106.21 | -1.16 % | |
| S2 | 105.52 | -1.79 % | ||
| S3 | 104.42 | -2.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 127.90 | 19.03 % | |
| R2 | 126.40 | 17.64 % | ||
| R1 | 116.00 | 7.96 % | ||
| Current price | 107.45 | |||
| Support | S1 | 106.80 | -0.605% | |
| S2 | 104.35 | -2.89% | ||
| S3 | 104.00 | -3.21% |
VISAKAIND Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 15, 2023 | Jun 15, 2023 | Jun 15, 2023 | ₹0.600 | 0.703% |
| 2 | Apr 12, 2023 | Apr 12, 2023 | Apr 12, 2023 | ₹1.40 | 1.84% |
| 3 | May 26, 2022 | May 26, 2022 | May 26, 2022 | ₹8.00 | 7.76% |
| 4 | Jan 31, 2022 | Jan 31, 2022 | Jan 31, 2022 | ₹7.00 | 5.60% |
| 5 | May 18, 2021 | May 18, 2021 | May 18, 2021 | ₹10.00 | 7.70% |
FAQ
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