Chemplast Sanmar Limited Stock Forecast
Red day on Friday for Chemplast Sanmar Limited stock after losing 0.317%
(Updated on May 10, 2024)
The Chemplast Sanmar Limited stock price fell by -0.317% on the last day (Friday, 10th May 2024) from ₹458.10 to ₹456.65. During the last trading day the stock fluctuated 2.74% from a day low at ₹454.95 to a day high of ₹467.40. The price has fallen in 8 of the last 10 days and is down by -8.85% for this period. Volume has increased on the last day by 4 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, 13 thousand shares were bought and sold for approximately ₹5.72 million.
The stock lies in the middle of a wide and weak 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 6.52% during the next 3 months and, with a 90% probability hold a price between ₹468.14 and ₹539.44 at the end of this 3-month period.
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CHEMPLASTS.BO Signals & Forecast
There are few to no technical positive signals at the moment. The Chemplast Sanmar Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹469.61 and ₹467.59. 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 25, 2024, and so far it has fallen -8.85%. 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 Chemplast Sanmar Limited stock
Chemplast Sanmar Limited finds support from accumulated volume at ₹447.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ₹12.45 (2.74%) between high and low. For the last week, the stock has had daily average volatility of 5.23%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CHEMPLASTS.BO) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Chemplast Sanmar Limited to open at ₹459.67, and during the day (based on 14 day Average True Range), to move between ₹437.04 and ₹476.26, which gives a possible trading interval of +/-₹19.61 (+/-4.30%) up or down from last closing price. If Chemplast Sanmar Limited takes out the full calculated possible swing range there will be an estimated 8.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹447.25 (2.06%) than the resistance at ₹471.05 (3.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Chemplast Sanmar Limited stock A Buy?
The Chemplast Sanmar Limited stock holds several negative signals and despite the positive trend, we believe Chemplast Sanmar Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.724 Sell Candidate Unchanged
Predicted Opening Price for Chemplast Sanmar Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ₹459.67 ( 0.661%) | ₹456.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHEMPLASTS.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 472.12 | 3.39 % | |
| R2 | 467.36 | 2.35 % | ||
| R1 | 464.42 | 1.70 % | ||
| Current price: | 456.65 | |||
| Support | S1 | 454.91 | -0.381 % | |
| S2 | 451.97 | -1.02 % | ||
| S3 | 447.22 | -2.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 500.80 | 9.67 % | |
| R2 | 475.20 | 4.06 % | ||
| R1 | 471.05 | 3.15 % | ||
| Current price | 456.65 | |||
| Support | S1 | 447.25 | -2.06% | |
| S2 | 445.80 | -2.38% | ||
| S3 | 441.05 | -3.42% |
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