Chambal Breweries & Distilleries Limited Stock Forecast

Red day on Tuesday for Chambal Breweries & Distilleries Limited
(Updated on May 21, 2024)

CHMBBRW.BO Signals & Forecast

There are few to no technical positive signals at the moment. The Chambal Breweries & Distilleries 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 ₹8.33 and ₹8.42. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -21.16%. 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 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 Chambal Breweries & Distilleries Limited stock

Chambal Breweries & Distilleries Limited finds support from accumulated volume at ₹7.86 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 ₹0.260 between high and low, or 3.29%. For the last week the stock has had daily average volatility of 1.34%.

Chambal Breweries & Distilleries Limited is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

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

Trading Expectations (CHMBBRW.BO) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect Chambal Breweries & Distilleries Limited to open at ₹7.99, and during the day (based on 14 day Average True Range), to move between ₹7.66 and ₹8.14, which gives a possible trading interval of +/-₹0.241 (+/-3.04%) up or down from last closing price. If Chambal Breweries & Distilleries Limited takes out the full calculated possible swing range there will be an estimated 6.09% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹7.86 (0.51%) than the resistance at ₹8.13 (2.91%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Chambal Breweries & Distilleries Limited stock A Buy?

Chambal Breweries & Distilleries Limited holds several negative signals and is within a very 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: -4.295 Sell Candidate Unchanged

Predicted Opening Price for Chambal Breweries & Distilleries Limited of Wednesday, May 22, 2024

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