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AI Analysis of ASHNOOR.BO
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Red day on Friday for Ashnoor Textile Mills Limited
(Updated on Jun 21, 2024)

Sell candidate since Jun 03, 2024 Gain 5.47% PDF

The Ashnoor Textile Mills Limited stock price fell by -1.98% on the last day (Friday, 21st Jun 2024) from ₹45.99 to ₹45.08. During the last trading day the stock fluctuated 0% from a day low at ₹45.08 to a day high of ₹45.08. The price has risen in 8 of the last 10 days and is up by 19.32% over the past 2 weeks. 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 -7 thousand shares and in total, 1 thousand shares were bought and sold for approximately ₹56.30 thousand.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -21.87% during the next 3 months and, with a 90% probability hold a price between ₹19.95 and ₹54.21 at the end of this 3-month period.

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ASHNOOR.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 Ashnoor Textile Mills 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 ₹46.65. On a fall, the stock will find some support from the short-term average at ₹43.96. 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 Thursday, April 25, 2024, and so far it has fallen -45.25%. 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 Ashnoor Textile Mills Limited stock

Ashnoor Textile Mills Limited finds support from accumulated volume at ₹44.32 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved ₹0 between high and low, or 0%. For the last week the stock has had daily average volatility of 4.42%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ASHNOOR.BO) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Ashnoor Textile Mills Limited to open at ₹45.08, and during the day (based on 14 day Average True Range), to move between ₹42.23 and ₹47.93, which gives a possible trading interval of +/-₹2.85 (+/-6.33%) up or down from last closing price. If Ashnoor Textile Mills Limited takes out the full calculated possible swing range there will be an estimated 12.66% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹44.32 (1.69%) than the resistance at ₹47.99 (6.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Ashnoor Textile Mills Limited stock A Buy?

Ashnoor Textile Mills 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: -2.673 Sell Candidate Unchanged

Predicted Opening Price for Ashnoor Textile Mills Limited of Monday, June 24, 2024

Fair opening price June 24, 2024 Current price
₹45.08 ( 0.00000000%) ₹45.08

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for ASHNOOR.BO

Fibonacci Support & Resistance Levels

Level Price
R3 45.08 0.00000000%
R2 45.08 0.00000000%
R1 45.08 0.00000000%
Price 45.08
S1 45.08 0.00000000%
S2 45.08 0.00000000%
S3 45.08 0.00000000%

Accumulated Volume Support & Resistance Levels

Level Price
R3 56.05 24.33%
R2 54.15 20.12%
R1 47.99 6.46%
Price 45.08
S1 44.32 -1.69%
S2 42.49 -5.75%
S3 37.78 -16.19%

FAQ

What is the symbol for Ashnoor Textile Mills Limited Stock and on which exchange is it traded?
The symbol for Ashnoor Textile Mills Limited is ASHNOOR.BO and it is traded on the XBOM (Bombay Stock Exchange).

Should I buy or sell Ashnoor Textile Mills Limited Stock?
Ashnoor Textile Mills 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.

How to buy Ashnoor Textile Mills Limited Stock?
Ashnoor Textile Mills Limited Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Ashnoor Textile Mills Limited Stock.

What's the current price of Ashnoor Textile Mills Limited Stock?
As of the end of day on the Jun 21, 2024, the price of an Ashnoor Textile Mills Limited (ASHNOOR.BO) share was ₹45.08.

What is the 52-week high and low for Ashnoor Textile Mills Limited Stock?
The 52-week high for Ashnoor Textile Mills Limited Stock is ₹82.34 and the 52-week low is ₹32.53.

What is the market capitalization of Ashnoor Textile Mills Limited Stock?
As of the Jun 21, 2024, the market capitalization of Ashnoor Textile Mills Limited is 718.228M.
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