Jay Shree Tea & Industries Limited Stock Forecast
A very strong day for Jay Shree Tea & Industries Limited stock price on Wednesday
(Updated on Jun 26, 2024)
The Jay Shree Tea & Industries Limited stock price gained 5.64% on the last trading day (Wednesday, 26th Jun 2024), rising from ₹111.03 to ₹117.29. During the last trading day the stock fluctuated 8.69% from a day low at ₹110.41 to a day high of ₹120.00. The price has risen in 7 of the last 10 days and is up by 17% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 77 thousand more shares were traded than the day before. In total, 218 thousand shares were bought and sold for approximately ₹25.61 million.
The stock has broken the wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ₹112.34, a level that may pose a second chance to hit a runner. According to fan-theory ₹130.53 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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JAYSREETEA.NS Signals & Forecast
Mostly positive signals in the chart today. The Jay Shree Tea & Industries 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 ₹113.75 and ₹103.60. 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 26.94%. 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 Jay Shree Tea & Industries Limited stock
Jay Shree Tea & Industries Limited finds support from accumulated volume at ₹115.36 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹9.59 between high and low, or 8.69%. For the last week, the stock has had daily average volatility of 5.48%.
The Jay Shree Tea & Industries Limited stock is extremely overbought on RSI14 (76). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: ₹113.21 (-3.48%) (This stock has high daily movements and this gives high risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 41 days ago.)
Trading Expectations (JAYSREETEA.NS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Jay Shree Tea & Industries Limited to open at ₹115.90, and during the day (based on 14 day Average True Range), to move between ₹112.19 and ₹122.39, which gives a possible trading interval of +/-₹5.10 (+/-4.35%) up or down from last closing price. If Jay Shree Tea & Industries Limited takes out the full calculated possible swing range there will be an estimated 8.69% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹115.36, some ₹1.93 (1.65%) from the current price of ₹117.29, our system finds the risk reward attractive.
Is Jay Shree Tea & Industries Limited stock A Buy?
Several short-term signals are positive and the stock has broke the rising 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 Jay Shree Tea & Industries 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 Hold/Accumulate to a Strong Buy candidate.
Current score: 6.917 Strong Buy Candidate Upgraded
Predicted Opening Price for Jay Shree Tea & Industries Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₹115.90 ( 1.19%) | ₹117.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JAYSREETEA.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 125.49 | 6.99% |
| R2 | 121.83 | 3.87% |
| R1 | 119.56 | 1.94% |
| Price | 117.29 | |
| S1 | 112.24 | -4.31% |
| S2 | 109.97 | -6.24% |
| S3 | 106.31 | -9.36% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 117.29 | |
| S1 | 115.36 | -1.65% |
| S2 | 111.90 | -4.60% |
| S3 | 111.08 | -5.29% |
JAYSREETEA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 06, 2019 | Aug 06, 2019 | Aug 06, 2019 | ₹0.350 | 0.792% |
| 2 | Aug 05, 2019 | Aug 05, 2019 | Aug 05, 2019 | ₹0.350 | 0.82% |
| 3 | Jul 24, 2018 | Jul 24, 2018 | Jul 24, 2018 | ₹0.500 | 0.640% |
| 4 | Jul 23, 2018 | Jul 23, 2018 | Jul 23, 2018 | ₹0.500 | 0.650% |
| 5 | May 08, 2017 | Jul 20, 2017 | Aug 30, 2017 | ₹0.500 | 0.497% |
FAQ
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