Jaipan Industries Limited Stock Forecast
Jaipan Industries Limited stock upgraded to Buy Candidate.
(Updated on Jun 14, 2024)
The Jaipan Industries Limited stock price fell by -0.585% on the last day (Friday, 14th Jun 2024) from ₹37.59 to ₹37.37. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 5.94% from a day low at ₹37.05 to a day high of ₹39.25. The price has fallen in 5 of the last 10 days and is down by -1.79% for this period. Volume has increased on the last day by 3 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, 4 thousand shares were bought and sold for approximately ₹158.60 thousand.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹37.36 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 7.25% during the next 3 months and, with a 90% probability hold a price between ₹40.07 and ₹47.69 at the end of this 3-month period.
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JAIPAN.BO Signals & Forecast
The Jaipan Industries 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 ₹37.67 and ₹39.58. A break-up above any of these levels will issue buy signals. Jaipan Industries Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Wednesday, June 05, 2024, and so far it has risen 1.00%. 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).
Support, Risk & Stop-loss for Jaipan Industries Limited stock
Jaipan Industries Limited finds support from accumulated volume at ₹37.09 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹2.20 (5.94%) between high and low. For the last week, the stock has had daily average volatility of 6.62%.
Our recommended stop-loss: ₹35.37 (-5.36%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (JAIPAN.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Jaipan Industries Limited to open at ₹37.89, and during the day (based on 14 day Average True Range), to move between ₹34.94 and ₹39.80, which gives a possible trading interval of +/-₹2.43 (+/-6.50%) up or down from last closing price. If Jaipan Industries Limited takes out the full calculated possible swing range there will be an estimated 12.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹37.49 (0.32%) than the support at ₹37.09 (0.75%), 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 Jaipan Industries Limited stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.061 Buy Candidate Upgraded
Predicted Opening Price for Jaipan Industries Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹37.89 ( 1.39%) | ₹37.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JAIPAN.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 40.09 | 7.28% |
| R2 | 39.25 | 5.03% |
| R1 | 38.73 | 3.64% |
| Price | 37.37 | |
| S1 | 37.05 | -0.86% |
| S2 | 36.53 | -2.25% |
| S3 | 35.69 | -4.50% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 41.65 | 11.45% |
| R2 | 37.69 | 0.86% |
| R1 | 37.49 | 0.321% |
| Price | 37.37 | |
| S1 | 37.09 | -0.749% |
| S2 | 36.01 | -3.64% |
| S3 | 33.70 | -9.82% |
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