Atul Ltd Stock Forecast

Evaluation of Atul Ltd stock downgraded after the last trading session.
(Updated on Jun 27, 2024)

ATUL.NS Signals & Forecast

The Atul Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹6,399.43. On a fall, the stock will find some support from the long-term average at approximately ₹6,019.27. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -2.61%. Further fall is indicated until a new bottom pivot has been found. 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 Atul Ltd stock

Atul Ltd finds support from accumulated volume at ₹6,196.30 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 ₹131.30 between high and low, or 2.09%. For the last week, the stock has had daily average volatility of 2.24%.

The Atul Ltd stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

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

Trading Expectations (ATUL.NS) For The Upcoming Trading Day Of Friday 28th

For the upcoming trading day on Friday, 28th we expect Atul Ltd to open at ₹6,346.12, and during the day (based on 14 day Average True Range), to move between ₹6,179.27 and ₹6,494.63, which gives a possible trading interval of +/-₹157.68 (+/-2.49%) up or down from last closing price. If Atul Ltd takes out the full calculated possible swing range there will be an estimated 4.98% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹6,400.10 (1.00%) than the support at ₹6,196.30 (2.22%), 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 Atul Ltd stock A Buy?

Atul Ltd 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.754 Sell Candidate Downgraded

Predicted Opening Price for Atul Ltd of Friday, June 28, 2024

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