Ahluwalia Contracts Stock Forecast
Stronger technical forecast for Ahluwalia Contracts stock price after Tuesday trading.
(Updated on May 28, 2024)
The Ahluwalia Contracts stock price gained 0.242% on the last trading day (Tuesday, 28th May 2024), rising from ₹1,282.95 to ₹1,286.05. During the last trading day the stock fluctuated 2.88% from a day low at ₹1,272.00 to a day high of ₹1,308.65. The price has risen in 9 of the last 10 days and is up by 15.79% 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, 9 thousand more shares were traded than the day before. In total, 13 thousand shares were bought and sold for approximately ₹16.65 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 10.03% during the next 3 months and, with a 90% probability hold a price between ₹1,236.01 and ₹1,485.40 at the end of this 3-month period.
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AHLUCONT.BO Signals & Forecast
Mostly positive signals in the chart today. The Ahluwalia Contracts 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 ₹1,260.90 and ₹1,135.09. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 26.30%. 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 Ahluwalia Contracts stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹1,152.45 and ₹1,134.10. 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, Ahluwalia Contracts finds support just below today's level at ₹1,152.45. If this is broken, then the next support from accumulated volume will be at ₹1,134.10 and ₹1,090.25.
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 ₹36.65 between high and low, or 2.88%. For the last week, the stock has had daily average volatility of 3.40%.
The Ahluwalia Contracts stock is extremely overbought on RSI14 (93). This increases the short-term risk substantially.
Our recommended stop-loss: ₹1,245.67 (-3.14%) (This stock has high daily movements and this gives high risk. The RSI14 is 93 and this increases the risk substantially. There is a buy signal from a pivot bottom found 53 days ago.)
Trading Expectations (AHLUCONT.BO) For The Upcoming Trading Day Of Wednesday 29th
For the upcoming trading day on Wednesday, 29th we expect Ahluwalia Contracts to open at ₹1,288.90, and during the day (based on 14 day Average True Range), to move between ₹1,241.19 and ₹1,330.91, which gives a possible trading interval of +/-₹44.86 (+/-3.49%) up or down from last closing price. If Ahluwalia Contracts takes out the full calculated possible swing range there will be an estimated 6.98% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹1,152.45, some ₹133.60 (10.39%) from the current price of ₹1,286.05, our system finds the risk reward attractive.
Is Ahluwalia Contracts stock A Buy?
Ahluwalia Contracts holds several positive signals and is within a strong 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 Buy to a Strong Buy candidate.
Current score: 6.228 Strong Buy Candidate Upgraded
Predicted Opening Price for Ahluwalia Contracts of Wednesday, May 29, 2024
| Fair opening price May 29, 2024 | Current price |
|---|---|
| ₹1,288.90 ( 0.222%) | ₹1,286.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AHLUCONT.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,325.55 | 3.07 % | |
| R2 | 1,311.55 | 1.98 % | ||
| R1 | 1,302.90 | 1.31 % | ||
| Current price: | 1,286.05 | |||
| Support | S1 | 1,274.90 | -0.87 % | |
| S2 | 1,266.25 | -1.54 % | ||
| S3 | 1,252.25 | -2.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 1,286.05 | |||
| Support | S1 | 1,152.45 | -10.39% | |
| S2 | 1,134.10 | -11.82% | ||
| S3 | 1,090.25 | -15.22% |
FAQ
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