The Andhra Sugars Limited Stock Forecast
Red day on Friday for The Andhra Sugars Limited stock after losing 0.774%
(Updated on May 24, 2024)
The The Andhra Sugars Limited stock price fell by -0.774% on the last day (Friday, 24th May 2024) from ₹103.30 to ₹102.50. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 2.21% from a day low at ₹101.70 to a day high of ₹103.95. The price has fallen in 7 of the last 10 days but is still up by 1.08% over the past 2 weeks. Volume has increased on the last day by 23 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 79 thousand shares were bought and sold for approximately ₹8.08 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect The Andhra Sugars Limited stock with a 90% probability to be traded between ₹92.14 and ₹110.38 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ANDHRSUGAR.NS Signals & Forecast
There are few to no technical positive signals at the moment. The The Andhra Sugars 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 ₹103.86 and ₹105.65. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -7.66%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for The Andhra Sugars Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹95.95 and ₹95.25. 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, The Andhra Sugars Limited finds support just below today's level at ₹95.95. If this is broken, then the next support from accumulated volume will be at ₹95.25 and ₹94.15.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹2.25 (2.21%) between high and low. For the last week, the stock has had daily average volatility of 1.50%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ANDHRSUGAR.NS) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect The Andhra Sugars Limited to open at ₹102.72, and during the day (based on 14 day Average True Range), to move between ₹99.71 and ₹105.29, which gives a possible trading interval of +/-₹2.79 (+/-2.72%) up or down from last closing price. If The Andhra Sugars Limited takes out the full calculated possible swing range there will be an estimated 5.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹105.90 (3.32%) than the support at ₹95.95 (6.39%), 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.
Earnings coming up
The Andhra Sugars Limited will release earnings BMO on Monday, May 27, 2024. We will update the financials statements for The Andhra Sugars Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.70% in the first trading day after earnings release.
Is The Andhra Sugars Limited stock A Buy?
The Andhra Sugars Limited holds several negative signals and is within a 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: -5.695 Strong Sell Candidate Unchanged
Predicted Opening Price for The Andhra Sugars Limited of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| ₹102.72 ( 0.211%) | ₹102.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ANDHRSUGAR.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 104.97 | 2.41 % | |
| R2 | 104.11 | 1.57 % | ||
| R1 | 103.58 | 1.05 % | ||
| Current price: | 102.50 | |||
| Support | S1 | 101.86 | -0.627 % | |
| S2 | 101.33 | -1.15 % | ||
| S3 | 100.47 | -1.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 108.50 | 5.85 % | |
| R2 | 108.15 | 5.51 % | ||
| R1 | 105.90 | 3.32 % | ||
| Current price | 102.50 | |||
| Support | S1 | 95.95 | -6.39% | |
| S2 | 95.25 | -7.07% | ||
| S3 | 94.15 | -8.15% |
ANDHRSUGAR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 15, 2023 | Sep 15, 2023 | Sep 15, 2023 | ₹2.00 | 1.65% |
| 2 | Sep 15, 2022 | Sep 15, 2022 | Sep 15, 2022 | ₹2.00 | 1.35% |
| 3 | Sep 15, 2021 | Sep 15, 2021 | Sep 15, 2021 | ₹2.00 | 1.76% |
| 4 | Mar 05, 2020 | Mar 19, 2020 | Mar 26, 2020 | ₹4.00 | 13.40% |
| 5 | Sep 12, 2019 | Sep 12, 2019 | Sep 12, 2019 | ₹2.00 | 3.26% |
FAQ
Click here for our free guide on how to buy The Andhra Sugars Limited Stock.
