Ankit Metal & Power Limited Stock Forecast
Ankit Metal & Power Limited stock price up 1.25% on Friday
(Updated on Apr 19, 2024)
The Ankit Metal & Power Limited stock price gained 1.25% on the last trading day (Friday, 19th Apr 2024), rising from ₹4.00 to ₹4.05. During the last trading day the stock fluctuated 3.80% from a day low at ₹3.95 to a day high of ₹4.10. The price has fallen in 4 of the last 10 days and is down by -3.57% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 46 thousand shares were bought and sold for approximately ₹186.16 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 ₹4.06 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 -16.68% during the next 3 months and, with a 90% probability hold a price between ₹2.70 and ₹3.39 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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ANKITMETAL.NS Signals & Forecast
The Ankit Metal & Power 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 ₹4.03 and ₹3.97. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Ankit Metal & Power Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -3.57%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Ankit Metal & Power Limited stock
Ankit Metal & Power Limited finds support from accumulated volume at ₹4.00 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 ₹0.150 between high and low, or 3.80%. For the last week, the stock has had daily average volatility of 4.34%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ANKITMETAL.NS) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Ankit Metal & Power Limited to open at ₹4.03, and during the day (based on 14 day Average True Range), to move between ₹3.86 and ₹4.24, which gives a possible trading interval of +/-₹0.193 (+/-4.77%) up or down from last closing price. If Ankit Metal & Power Limited takes out the full calculated possible swing range there will be an estimated 9.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹4.10 (1.23%) than the support at ₹4.00 (1.23%), 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 Ankit Metal & Power Limited stock A Buy?
Ankit Metal & Power Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.191 Sell Candidate Unchanged
Predicted Opening Price for Ankit Metal & Power Limited of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| ₹4.03 ( 0.412%) | ₹4.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ANKITMETAL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.18 | 3.29 % | |
| R2 | 4.13 | 1.88 % | ||
| R1 | 4.09 | 1.00 % | ||
| Current price: | 4.05 | |||
| Support | S1 | 3.98 | -1.83 % | |
| S2 | 3.94 | -2.70 % | ||
| S3 | 3.88 | -4.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.50 | 11.11 % | |
| R2 | 4.45 | 9.88 % | ||
| R1 | 4.10 | 1.23 % | ||
| Current price | 4.05 | |||
| Support | S1 | 4.00 | -1.23% | |
| S2 | 3.95 | -2.47% | ||
| S3 | 3.55 | -12.35% |
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