Jaipan Industries Limited Stock Forecast
Jaipan Industries Limited stock price ended at ₹38.39 on Tuesday, after losing 1.44%.
(Updated on Jun 25, 2024)
The Jaipan Industries Limited stock price fell by -1.44% on the last day (Tuesday, 25th Jun 2024) from ₹38.95 to ₹38.39. During the last trading day the stock fluctuated 5.17% from a day low at ₹37.56 to a day high of ₹39.50. The price has fallen in 6 of the last 10 days but is still up by 1.86% over the past 2 weeks. Volume has increased on the last day by 136 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 ₹165.12 thousand.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Jaipan Industries Limited stock with a 90% probability to be traded between ₹37.26 and ₹43.99 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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JAIPAN.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 4.46%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Jaipan Industries Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹39.11. On a fall, the stock will find some support from the short-term average at ₹37.81. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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".
Support, Risk & Stop-loss for Jaipan Industries Limited stock
Jaipan Industries Limited finds support from accumulated volume at ₹38.14 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 ₹1.94 between high and low, or 5.17%. For the last week the stock has had daily average volatility of 5.94%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (JAIPAN.BO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Jaipan Industries Limited to open at ₹38.48, and during the day (based on 14 day Average True Range), to move between ₹35.99 and ₹40.79, which gives a possible trading interval of +/-₹2.40 (+/-6.26%) up or down from last closing price. If Jaipan Industries Limited takes out the full calculated possible swing range there will be an estimated 12.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹38.14 (0.65%) than the resistance at ₹39.25 (2.24%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Jaipan Industries Limited stock A Buy?
Jaipan Industries 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.
Current score: -2.932 Sell Candidate Unchanged
Predicted Opening Price for Jaipan Industries Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹38.48 ( 0.243%) | ₹38.39 |
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 | 40.42 | 5.30% |
| R2 | 39.68 | 3.37% |
| R1 | 39.22 | 2.17% |
| Price | 38.39 | |
| S1 | 37.74 | -1.69% |
| S2 | 37.28 | -2.88% |
| S3 | 36.54 | -4.81% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 42.84 | 11.59% |
| R2 | 41.65 | 8.49% |
| R1 | 39.25 | 2.24% |
| Price | 38.39 | |
| S1 | 38.14 | -0.651% |
| S2 | 37.69 | -1.82% |
| S3 | 37.49 | -2.34% |
FAQ
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