Cigniti Technologies Ltd Stock Forecast
Red day on Thursday for Cigniti Technologies Ltd
(Updated on May 09, 2024)
The Cigniti Technologies Ltd stock price fell by -1.12% on the last day (Thursday, 9th May 2024) from ₹1,312.10 to ₹1,297.45. During the last trading day the stock fluctuated 1.83% from a day low at ₹1,294.00 to a day high of ₹1,317.65. The price has risen in 6 of the last 10 days and is up by 4.63% over the past 2 weeks. Volume has increased on the last day by 29 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, 195 thousand shares were bought and sold for approximately ₹253.31 million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹1,296.69 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 31.31% during the next 3 months and, with a 90% probability hold a price between ₹1,702.70 and ₹1,840.16 at the end of this 3-month period.
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CIGNITITEC.NS Signals & Forecast
The Cigniti Technologies 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 ₹1,326.04. On a fall, the stock will find some support from the long-term average at approximately ₹1,284.38. 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, May 02, 2024, and so far it has fallen -5.51%. 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 Cigniti Technologies Ltd stock
Cigniti Technologies Ltd finds support from accumulated volume at ₹1,233.55 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 ₹23.65 between high and low, or 1.83%. For the last week, the stock has had daily average volatility of 2.46%.
Our recommended stop-loss: ₹1,240.21 (-4.41%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (CIGNITITEC.NS) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Cigniti Technologies Ltd to open at ₹1,303.03, and during the day (based on 14 day Average True Range), to move between ₹1,255.76 and ₹1,339.14, which gives a possible trading interval of +/-₹41.69 (+/-3.21%) up or down from last closing price. If Cigniti Technologies Ltd takes out the full calculated possible swing range there will be an estimated 6.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹1,323.00 (1.97%) than the support at ₹1,233.55 (4.93%), 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 Cigniti Technologies Ltd stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Cigniti Technologies Ltd stock to perform well in the short-term.
Current score: 1.871 Buy Candidate Unchanged
Predicted Opening Price for Cigniti Technologies Ltd of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| ₹1,303.03 ( 0.430%) | ₹1,297.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CIGNITITEC.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,326.68 | 2.25 % | |
| R2 | 1,317.65 | 1.56 % | ||
| R1 | 1,312.07 | 1.13 % | ||
| Current price: | 1,297.45 | |||
| Support | S1 | 1,294.00 | -0.266 % | |
| S2 | 1,288.42 | -0.696 % | ||
| S3 | 1,279.38 | -1.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,373.05 | 5.83 % | |
| R2 | 1,329.80 | 2.49 % | ||
| R1 | 1,323.00 | 1.97 % | ||
| Current price | 1,297.45 | |||
| Support | S1 | 1,233.55 | -4.93% | |
| S2 | 1,205.15 | -7.11% | ||
| S3 | 1,177.40 | -9.25% |
CIGNITITEC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 16, 2023 | Nov 16, 2023 | Nov 16, 2023 | ₹0 | 0% |
| 2 | Jun 09, 2023 | Jun 09, 2023 | Jun 09, 2023 | ₹2.50 | 0.278% |
| 3 | Jun 16, 2022 | Jun 16, 2022 | Jun 16, 2022 | ₹2.50 | 0.565% |
| 4 | May 27, 2021 | May 27, 2021 | May 27, 2021 | ₹2.50 | 0.599% |
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