Honda Siel Power Products Limited Stock Forecast

Evaluation of Honda Siel Power Products Limited stock downgraded after the last trading session.
(Updated on Apr 19, 2024)

HONDAPOWER.NS Signals & Forecast

The Honda Siel Power Products Limited 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 ₹2,453.59. On a fall, the stock will find some support from the long-term average at approximately ₹2,358.83. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Friday, April 12, 2024, and so far it has fallen -3.91%. Further fall is indicated until a new bottom pivot has been found.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Friday, April 12, 2024 and based on theory for this formation the price should fall by -23.48% to ₹1,853.96 within 31 trading days since signal was issued (Monday, April 22, 2024).

Support, Risk & Stop-loss for Honda Siel Power Products Limited stock

Honda Siel Power Products Limited finds support from accumulated volume at ₹2,414.90 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 ₹66.35 between high and low, or 2.78%. For the last week, the stock has had daily average volatility of 2.53%.

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

Trading Expectations (HONDAPOWER.NS) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Honda Siel Power Products Limited to open at ₹2,419.13, and during the day (based on 14 day Average True Range), to move between ₹2,352.63 and ₹2,493.27, which gives a possible trading interval of +/-₹70.32 (+/-2.90%) up or down from last closing price. If Honda Siel Power Products Limited takes out the full calculated possible swing range there will be an estimated 5.80% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹2,414.90 (0.33%) than the resistance at ₹2,475.60 (2.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Honda Siel Power Products Limited stock A Buy?

Honda Siel Power Products Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.315 Sell Candidate Downgraded

Predicted Opening Price for Honda Siel Power Products Limited of Monday, April 22, 2024

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