Jyoti Cnc Automation Limited Stock Forecast
Red day on Friday for Jyoti Cnc Automation Limited stock after losing 0.324%
(Updated on Jun 28, 2024)
The Jyoti Cnc Automation Limited stock price fell by -0.324% on the last day (Friday, 28th Jun 2024) from ₹1,358.90 to ₹1,354.50. During the last trading day the stock fluctuated 4.96% from a day low at ₹1,305.10 to a day high of ₹1,369.80. The price has been going up and down for this period, and there has been a 16.21% gain for the last 2 weeks. Volume has increased on the last day by 4 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, 216 thousand shares were bought and sold for approximately ₹291.99 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 57.08% during the next 3 months and, with a 90% probability hold a price between ₹1,984.95 and ₹2,200.43 at the end of this 3-month period.
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JYOTICNC.NS Signals & Forecast
The Jyoti Cnc Automation 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 ₹1,326.31 and ₹1,135.96. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, June 27, 2024, and so far it has fallen -0.324%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Jyoti Cnc Automation Limited stock
Jyoti Cnc Automation Limited finds support from accumulated volume at ₹1,353.10 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₹64.70 between high and low, or 4.96%. For the last week, the stock has had daily average volatility of 6.31%.
Our recommended stop-loss: ₹1,318.69 (-2.64%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (JYOTICNC.NS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Jyoti Cnc Automation Limited to open at ₹1,343.13, and during the day (based on 14 day Average True Range), to move between ₹1,280.67 and ₹1,428.33, which gives a possible trading interval of +/-₹73.83 (+/-5.45%) up or down from last closing price. If Jyoti Cnc Automation Limited takes out the full calculated possible swing range there will be an estimated 10.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹1,353.10 (0.10%) than the resistance at ₹1,358.90 (0.32%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Jyoti Cnc Automation Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Jyoti Cnc Automation Limited stock to perform well in the short-term.
Current score: 2.081 Buy Candidate Unchanged
Predicted Opening Price for Jyoti Cnc Automation Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹1,343.13 ( 0.84%) | ₹1,354.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JYOTICNC.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,407.83 | 3.94% |
| R2 | 1,383.12 | 2.11% |
| R1 | 1,367.85 | 0.99% |
| Price | 1,354.50 | |
| S1 | 1,318.42 | -2.66% |
| S2 | 1,303.15 | -3.79% |
| S3 | 1,278.43 | -5.62% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 1,358.90 | 0.325% |
| Price | 1,354.50 | |
| S1 | 1,353.10 | -0.103% |
| S2 | 1,337.55 | -1.25% |
| S3 | 1,167.15 | -13.83% |
FAQ
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