KAY POWER AND PAPER LTD. Stock Forecast
KAY POWER AND PAPER LTD. stock price ended at ₹37.01 on Tuesday, after losing 1.33%.
(Updated on May 07, 2024)
The KAY POWER AND PAPER LTD. stock price fell by -1.33% on the last day (Tuesday, 7th May 2024) from ₹37.51 to ₹37.01. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 8.57% from a day low at ₹35.72 to a day high of ₹38.78. The price has fallen in 6 of the last 10 days and is down by -6.68% for this period. Volume has increased on the last day by 28 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, 43 thousand shares were bought and sold for approximately ₹1.58 million.
The stock lies in the middle of a very wide and weak 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 5.96% during the next 3 months and, with a 90% probability hold a price between ₹35.70 and ₹53.24 at the end of this 3-month period.
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KAYPOWR.BO Signals & Forecast
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. The KAY POWER AND PAPER LTD. 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 ₹38.22 and ₹41.53. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -23.74%. 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 KAY POWER AND PAPER LTD. stock
KAY POWER AND PAPER LTD. finds support from accumulated volume at ₹36.28 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 ₹3.06 between high and low, or 8.57%. For the last week, the stock has had daily average volatility of 6.91%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KAYPOWR.BO) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect KAY POWER AND PAPER LTD. to open at ₹37.17, and during the day (based on 14 day Average True Range), to move between ₹34.87 and ₹39.15, which gives a possible trading interval of +/-₹2.14 (+/-5.78%) up or down from last closing price. If KAY POWER AND PAPER LTD. takes out the full calculated possible swing range there will be an estimated 11.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹36.28 (1.97%) than the resistance at ₹40.65 (9.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is KAY POWER AND PAPER LTD. stock A Buy?
The KAY POWER AND PAPER LTD. stock holds several negative signals and despite the positive trend, we believe KAY POWER AND PAPER LTD. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.025 Sell Candidate Unchanged
Predicted Opening Price for KAY POWER AND PAPER LTD. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| ₹37.17 ( 0.432%) | ₹37.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KAYPOWR.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.23 | 8.70 % | |
| R2 | 39.06 | 5.54 % | ||
| R1 | 38.34 | 3.59 % | ||
| Current price: | 37.01 | |||
| Support | S1 | 36.00 | -2.73 % | |
| S2 | 35.28 | -4.68 % | ||
| S3 | 34.11 | -7.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.74 | 23.59 % | |
| R2 | 42.84 | 15.75 % | ||
| R1 | 40.65 | 9.84 % | ||
| Current price | 37.01 | |||
| Support | S1 | 36.28 | -1.97% | |
| S2 | 34.73 | -6.16% | ||
| S3 | 32.74 | -11.54% |
FAQ
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