Kotia Enterprises Limited Stock Forecast

Kotia Enterprises Limited stock downgraded from Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Jun 26, 2024)

KEL.BO Signals & Forecast

The Kotia Enterprises Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹21.34. On a fall, the stock will find some support from the long-term average at approximately ₹20.16. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Kotia Enterprises Limited stock

Kotia Enterprises Limited finds support from accumulated volume at ₹19.79 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved ₹0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.0191%

Our recommended stop-loss: ₹19.02 (-6.16%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (KEL.BO) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Kotia Enterprises Limited to open at ₹20.27, and during the day (based on 14 day Average True Range), to move between ₹19.65 and ₹20.89, which gives a possible trading interval of +/-₹0.622 (+/-3.07%) up or down from last closing price. If Kotia Enterprises Limited takes out the full calculated possible swing range there will be an estimated 6.14% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹20.63 (1.78%) than the support at ₹19.79 (2.37%), 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 Kotia Enterprises Limited stock A Buy?

Kotia Enterprises 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Kotia Enterprises Limited of Thursday, June 27, 2024

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