CIAN Agro Industries & Infrastructure Stock Forecast
High volatility in CIAN Agro Industries & Infrastructure stock price on Friday which ended trading at ₹43.50
(Updated on May 17, 2024)
The CIAN Agro Industries & Infrastructure stock price gained 4.82% on the last trading day (Friday, 17th May 2024), rising from ₹41.50 to ₹43.50. During the last trading day the stock fluctuated 10.50% from a day low at ₹39.43 to a day high of ₹43.57. The price has been going up and down for this period, and there has been a 9.65% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 13 thousand more shares were traded than the day before. In total, 14 thousand shares were bought and sold for approximately ₹601.13 thousand.
Given the current short-term trend, the stock is expected to fall -3.91% during the next 3 months and, with a 90% probability hold a price between ₹34.73 and ₹41.80 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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CIANAGRO.BO Signals & Forecast
The CIAN Agro Industries & Infrastructure 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 ₹40.56 and ₹39.52. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 17.12%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). CIAN Agro Industries & Infrastructure 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.
Support, Risk & Stop-loss for CIAN Agro Industries & Infrastructure stock
CIAN Agro Industries & Infrastructure finds support from accumulated volume at ₹42.21 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹4.14 between high and low, or 10.50%. For the last week the stock has had daily average volatility of 4.29%.
Our recommended stop-loss: ₹41.90 (-3.68%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (CIANAGRO.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect CIAN Agro Industries & Infrastructure Limited to open at ₹42.17, and during the day (based on 14 day Average True Range), to move between ₹41.61 and ₹45.39, which gives a possible trading interval of +/-₹1.89 (+/-4.36%) up or down from last closing price. If CIAN Agro Industries & Infrastructure Limited takes out the full calculated possible swing range there will be an estimated 8.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹44.07 (1.31%) than the support at ₹42.21 (2.97%), 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 CIAN Agro Industries & Infrastructure Limited stock A Buy?
CIAN Agro Industries & Infrastructure holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for CIAN Agro Industries & Infrastructure Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹42.17 ( 3.07%) | ₹43.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CIANAGRO.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 46.31 | 6.45 % | |
| R2 | 44.73 | 2.82 % | ||
| R1 | 43.75 | 0.570 % | ||
| Current price: | 43.50 | |||
| Support | S1 | 40.59 | -6.70 % | |
| S2 | 39.61 | -8.95 % | ||
| S3 | 38.03 | -12.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 44.70 | 2.76 % | ||
| R1 | 44.07 | 1.31 % | ||
| Current price | 43.50 | |||
| Support | S1 | 42.21 | -2.97% | |
| S2 | 41.07 | -5.59% | ||
| S3 | 39.84 | -8.41% |
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