Euro India Fresh Foods Limited Stock Forecast
High volatility in Euro India Fresh Foods Limited stock price on Friday which ended trading at ₹141.68
(Updated on Jun 28, 2024)
The Euro India Fresh Foods Limited stock price gained 8.28% on the last trading day (Friday, 28th Jun 2024), rising from ₹130.85 to ₹141.68. During the last trading day the stock fluctuated 13.99% from a day low at ₹128.07 to a day high of ₹145.99. The price has been going up and down for this period, and there has been a 5.9% 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, 48 thousand more shares were traded than the day before. In total, 67 thousand shares were bought and sold for approximately ₹9.55 million.
The stock has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. ₹137.64 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach ₹146.53 sometime during the next 3 months.
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EIFFL.NS Signals & Forecast
Mostly positive signals in the chart today. The Euro India Fresh Foods Limited 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 ₹134.36 and ₹133.17. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 9.45%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Euro India Fresh Foods Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹134.50 and ₹133.05. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Euro India Fresh Foods Limited finds support just below today's level at ₹134.50. If this is broken, then the next support from accumulated volume will be at ₹133.05 and ₹132.25.
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 ₹17.92 between high and low, or 13.99%. For the last week the stock has had daily average volatility of 5.02%.
Our recommended stop-loss: ₹136.44 (-3.70%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 57 days ago.)
Trading Expectations (EIFFL.NS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Euro India Fresh Foods Limited to open at ₹138.58, and during the day (based on 14 day Average True Range), to move between ₹136.55 and ₹146.81, which gives a possible trading interval of +/-₹5.13 (+/-3.62%) up or down from last closing price. If Euro India Fresh Foods Limited takes out the full calculated possible swing range there will be an estimated 7.24% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹134.50, some ₹7.18 (5.07%) from the current price of ₹141.68, our system finds the risk reward attractive.
Is Euro India Fresh Foods Limited stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Euro India Fresh Foods Limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.254 Buy Candidate Upgraded
Predicted Opening Price for Euro India Fresh Foods Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹138.58 ( 2.19%) | ₹141.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EIFFL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 156.50 | 10.46% |
| R2 | 149.65 | 5.63% |
| R1 | 145.43 | 2.64% |
| Price | 141.68 | |
| S1 | 131.73 | -7.02% |
| S2 | 127.51 | -10.00% |
| S3 | 120.66 | -14.84% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 141.68 | |
| S1 | 134.50 | -5.07% |
| S2 | 133.05 | -6.09% |
| S3 | 132.25 | -6.66% |
FAQ
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