Aarvee Denims and Exports Limited Stock Forecast

Aarvee Denims and Exports Limited stock upgraded from Sell Candidate to Buy Candidate after Monday trading session.
(Updated on Apr 22, 2024)

AARVEEDEN.NS Signals & Forecast

Mostly positive signals in the chart today. The Aarvee Denims and Exports Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹27.55. On a fall, the stock will find some support from the long-term average at approximately ₹27.31. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 15.89%. 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 is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Aarvee Denims and Exports Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹25.05 and ₹24.30. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Aarvee Denims and Exports Limited finds support just below today's level at ₹25.05. If this is broken, then the next support from accumulated volume will be at ₹24.30 and ₹24.20.

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 ₹1.35 between high and low, or 5.01%. For the last week, the stock has had daily average volatility of 4.77%.

Our recommended stop-loss: ₹26.12 (-4.51%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (AARVEEDEN.NS) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Aarvee Denims and Exports Limited to open at ₹27.53, and during the day (based on 14 day Average True Range), to move between ₹25.75 and ₹28.95, which gives a possible trading interval of +/-₹1.60 (+/-5.86%) up or down from last closing price. If Aarvee Denims and Exports Limited takes out the full calculated possible swing range there will be an estimated 11.71% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹29.50 (7.86%) than the support at ₹25.05 (8.41%), 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.

Is Aarvee Denims and Exports Limited stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 2.217 Buy Candidate Upgraded

Predicted Opening Price for Aarvee Denims and Exports Limited of Tuesday, April 23, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.