Anand Rathi Wealth Limited Stock Forecast
Green day on Monday for Anand Rathi Wealth Limited
(Updated on Apr 15, 2024)
The Anand Rathi Wealth Limited stock price gained 4.39% on the last trading day (Monday, 15th Apr 2024), rising from ₹4,014.05 to ₹4,190.20. During the last trading day the stock fluctuated 9.42% from a day low at ₹3,852.00 to a day high of ₹4,215.00. The price has risen in 7 of the last 10 days and is up by 16.89% 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, 18 thousand more shares were traded than the day before. In total, 37 thousand shares were bought and sold for approximately ₹154.47 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 30.57% during the next 3 months and, with a 90% probability hold a price between ₹4,657.17 and ₹5,703.72 at the end of this 3-month period.
ANANDRATHI.BO Signals & Forecast
The Anand Rathi Wealth Limited 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 ₹3,815.04 and ₹3,730.97. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 02, 2024, and so far it has risen 21.62%. 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 Anand Rathi Wealth Limited stock
Anand Rathi Wealth Limited finds support from accumulated volume at ₹4,014.05 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 ₹363.00 between high and low, or 9.42%. For the last week, the stock has had daily average volatility of 6.19%.
Our recommended stop-loss: ₹4,041.03 (-3.56%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (ANANDRATHI.BO) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Anand Rathi Wealth Limited to open at ₹4,085.73, and during the day (based on 14 day Average True Range), to move between ₹4,001.89 and ₹4,378.51, which gives a possible trading interval of +/-₹188.31 (+/-4.49%) up or down from last closing price. If Anand Rathi Wealth Limited takes out the full calculated possible swing range there will be an estimated 8.99% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹4,014.05, some ₹176.15 (4.20%) from the current price of ₹4,190.20, our system finds the risk reward attractive.
Is Anand Rathi Wealth Limited stock A Buy?
Anand Rathi Wealth 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: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Anand Rathi Wealth Limited of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| ₹4,085.73 ( 2.49%) | ₹4,190.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ANANDRATHI.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,448.73 | 6.17 % | |
| R2 | 4,310.07 | 2.86 % | ||
| R1 | 4,224.40 | 0.82 % | ||
| Current price: | 4,190.20 | |||
| Support | S1 | 3,947.07 | -5.80 % | |
| S2 | 3,861.40 | -7.85 % | ||
| S3 | 3,722.73 | -11.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 4,190.20 | |||
| Support | S1 | 4,014.05 | -4.20% | |
| S2 | 3,735.40 | -10.85% | ||
| S3 | 3,395.85 | -18.96% |
FAQ
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