Karnavati Finance Limited Stock Forecast

Volatile ride for Karnavati Finance Limited stock price on Monday moving between ₹1.95 and ₹2.19
(Updated on May 27, 2024)

KARNAVATI.BO Signals & Forecast

There are mixed signals in the stock today. The Karnavati Finance 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 ₹2.11 and ₹2.20. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, May 06, 2024, and so far it has risen 0.476%. 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 gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point".

Support, Risk & Stop-loss for Karnavati Finance Limited stock

Karnavati Finance Limited finds support from accumulated volume at ₹2.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹0.240 (12.31%) between high and low. For the last week, the stock has had daily average volatility of 5.26%.

Our recommended stop-loss: ₹1.99 (-5.85%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 32 days ago.)

Trading Expectations (KARNAVATI.BO) For The Upcoming Trading Day Of Tuesday 28th

For the upcoming trading day on Tuesday, 28th we expect Karnavati Finance Limited to open at ₹2.08, and during the day (based on 14 day Average True Range), to move between ₹2.00 and ₹2.22, which gives a possible trading interval of +/-₹0.114 (+/-5.39%) up or down from last closing price. If Karnavati Finance Limited takes out the full calculated possible swing range there will be an estimated 10.78% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹2.10 (0.47%) than the resistance at ₹2.18 (3.32%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Karnavati Finance Limited stock A Buy?

Karnavati Finance Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.182 Hold/Accumulate Upgraded

Predicted Opening Price for Karnavati Finance Limited of Tuesday, May 28, 2024

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