Aditya Spinners Limited Stock Forecast
Aditya Spinners Limited stock price down 0.199% on Tuesday
(Updated on Jun 25, 2024)
The Aditya Spinners Limited stock price fell by -0.199% on the last day (Tuesday, 25th Jun 2024) from ₹20.14 to ₹20.10. During the last trading day the stock fluctuated 5.20% from a day low at ₹19.60 to a day high of ₹20.62. The price has fallen in 6 of the last 10 days and is down by -0.35% 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 -3 thousand shares and in total, 4 thousand shares were bought and sold for approximately ₹70.79 thousand.
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 ₹20.68 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 -22.72% during the next 3 months and, with a 90% probability hold a price between ₹12.64 and ₹15.98 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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ADITYASP.BO Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Aditya Spinners Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹20.11. On a fall, the stock will find some support from the short-term average at ₹20.02. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -1.23%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Aditya Spinners Limited stock
Aditya Spinners Limited finds support from accumulated volume at ₹20.02 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹1.02 between high and low, or 5.20%. For the last week the stock has had daily average volatility of 4.04%.
Our recommended stop-loss: ₹19.37 (-3.63%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (ADITYASP.BO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Aditya Spinners Limited to open at ₹20.11, and during the day (based on 14 day Average True Range), to move between ₹18.89 and ₹21.31, which gives a possible trading interval of +/-₹1.21 (+/-6.01%) up or down from last closing price. If Aditya Spinners Limited takes out the full calculated possible swing range there will be an estimated 12.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹20.14 (0.20%) than the support at ₹20.02 (0.40%), 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 Aditya Spinners Limited stock A Buy?
Aditya Spinners 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: -0.911 Hold/Accumulate Unchanged
Predicted Opening Price for Aditya Spinners Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹20.11 ( 0.0332%) | ₹20.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ADITYASP.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.13 | 5.11% |
| R2 | 20.74 | 3.17% |
| R1 | 20.50 | 1.97% |
| Price | 20.10 | |
| S1 | 19.72 | -1.91% |
| S2 | 19.48 | -3.10% |
| S3 | 19.09 | -5.04% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.99 | 9.40% |
| R2 | 20.20 | 0.498% |
| R1 | 20.14 | 0.199% |
| Price | 20.10 | |
| S1 | 20.02 | -0.398% |
| S2 | 19.54 | -2.79% |
| S3 | 17.85 | -11.19% |
FAQ
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