Kalyani Forge Limited Stock Forecast

Kalyani Forge Limited stock price ended at ₹611.45 on Tuesday, after losing 4.18%.
(Updated on Jun 25, 2024)

KALYANIFRG.NS Signals & Forecast

The Kalyani Forge 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 ₹604.09 and ₹464.95. 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 Wednesday, June 19, 2024, and so far it has fallen -7.79%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The stock had a Golden Star Signal on Friday, April 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 Kalyani Forge Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹552.60 and ₹460.50. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at ₹460.50 may give a huge drop in the stock price.

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 ₹46.95 between high and low, or 7.73%. For the last week, the stock has had daily average volatility of 8.96%.

Our recommended stop-loss: ₹585.31 (-4.27%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from a pivot top found 14 days ago.)

Trading Expectations (KALYANIFRG.NS) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Kalyani Forge Limited to open at ₹624.13, and during the day (based on 14 day Average True Range), to move between ₹569.68 and ₹653.22, which gives a possible trading interval of +/-₹41.77 (+/-6.83%) up or down from last closing price. If Kalyani Forge Limited takes out the full calculated possible swing range there will be an estimated 13.66% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹638.15 (4.37%) than the support at ₹552.60 (9.62%), 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 Kalyani Forge 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 Kalyani Forge Limited stock to perform well in the short-term.

Current score: 2.702 Buy Candidate Unchanged

Predicted Opening Price for Kalyani Forge Limited of Wednesday, June 26, 2024

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