Jyothy Laboratories Limited Stock Forecast

Red day on Thursday for Jyothy Laboratories Limited
(Updated on May 30, 2024)

JYOTHYLAB.NS Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Jyothy Laboratories 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 ₹418.84 and ₹431.83. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Jyothy Laboratories Limited stock

Jyothy Laboratories Limited finds support from accumulated volume at ₹410.15 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved ₹0 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.94%

Jyothy Laboratories Limited is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: ₹385.98 (-6.60%) (This stock has low daily movements and this gives low risk. Low RSI14 is 20 which reduces the risk some. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (JYOTHYLAB.NS) For The Upcoming Trading Day Of Friday 31st

For the upcoming trading day on Friday, 31st we expect Jyothy Laboratories Limited to open at ₹413.25, and during the day (based on 14 day Average True Range), to move between ₹398.67 and ₹427.83, which gives a possible trading interval of +/-₹14.58 (+/-3.53%) up or down from last closing price. If Jyothy Laboratories Limited takes out the full calculated possible swing range there will be an estimated 7.06% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹410.15 (0.75%) than the resistance at ₹440.95 (6.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Jyothy Laboratories Limited stock A Buy?

Jyothy Laboratories Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.283 Hold/Accumulate Unchanged

Predicted Opening Price for Jyothy Laboratories Limited of Friday, May 31, 2024

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