Kamadgiri Fashion Limited Stock Forecast

Is Kamadgiri Fashion Limited stock still a buy after falling -7.85% on Friday?
(Updated on May 31, 2024)

KAMADGIRI.BO Signals & Forecast

There are few to no technical positive signals at the moment. The Kamadgiri Fashion 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 ₹78.42 and ₹78.58. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -9.57%. 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). Kamadgiri Fashion Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Wednesday, May 15, 2024 and based on theory for this formation the price should fall by -5.02% to ₹70.81 within 20 trading days since signal was issued (Monday, June 03, 2024).

Support, Risk & Stop-loss for Kamadgiri Fashion Limited stock

Kamadgiri Fashion Limited finds support from accumulated volume at ₹73.83 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 ₹0.0600 between high and low, or 0.0805%. For the last week, the stock has had daily average volatility of 3.82%.

Our recommended stop-loss: ₹71.62 (-3.93%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 24 days ago.)

Trading Expectations (KAMADGIRI.BO) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Kamadgiri Fashion Limited to open at ₹74.57, and during the day (based on 14 day Average True Range), to move between ₹71.02 and ₹78.08, which gives a possible trading interval of +/-₹3.53 (+/-4.73%) up or down from last closing price. If Kamadgiri Fashion Limited takes out the full calculated possible swing range there will be an estimated 9.47% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹73.83 (0.97%) than the resistance at ₹77.87 (4.45%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Kamadgiri Fashion Limited stock A Buy?

Kamadgiri Fashion 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: -0.135 Hold/Accumulate Unchanged

Predicted Opening Price for Kamadgiri Fashion Limited of Monday, June 3, 2024

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