Jamna Auto Industries Limited Stock Forecast

Jamna Auto Industries Limited stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on May 16, 2024)

JAMNAAUTO.NS Signals & Forecast

The Jamna Auto Industries Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹131.63 and ₹133.91. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 Monday, April 29, 2024, and so far it has fallen -5.36%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Monday, February 26, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Jamna Auto Industries Limited stock

Jamna Auto Industries Limited finds support from accumulated volume at ₹133.45 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 ₹3.20 between high and low, or 2.41%. For the last week, the stock has had daily average volatility of 3.39%.

Our recommended stop-loss: ₹127.83 (-4.71%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 13 days ago.)

Trading Expectations (JAMNAAUTO.NS) For The Upcoming Trading Day Of Friday 17th

For the upcoming trading day on Friday, 17th we expect Jamna Auto Industries Limited to open at ₹134.25, and during the day (based on 14 day Average True Range), to move between ₹129.02 and ₹139.28, which gives a possible trading interval of +/-₹5.13 (+/-3.82%) up or down from last closing price. If Jamna Auto Industries Limited takes out the full calculated possible swing range there will be an estimated 7.64% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹134.30 (0.11%) than the support at ₹133.45 (0.52%), 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 Jamna Auto Industries Limited stock A Buy?

Jamna Auto Industries Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.527 Hold/Accumulate Upgraded

Predicted Opening Price for Jamna Auto Industries Limited of Friday, May 17, 2024

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