Kesoram Industries Limited Stock Forecast
Green day on Tuesday for Kesoram Industries Limited stock after gaining 0.380%
(Updated on Apr 23, 2024)
The Kesoram Industries Limited stock price gained 0.380% on the last trading day (Tuesday, 23rd Apr 2024), rising from ₹171.20 to ₹171.85. During the last trading day the stock fluctuated 2.34% from a day low at ₹168.90 to a day high of ₹172.85. The price has fallen in 7 of the last 10 days and is down by -2.41% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 22 thousand more shares were traded than the day before. In total, 37 thousand shares were bought and sold for approximately ₹6.31 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Kesoram Industries Limited stock with a 90% probability to be traded between ₹160.96 and ₹177.31 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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KESORAMIND.BO Signals & Forecast
The Kesoram Industries 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 ₹169.54 and ₹168.37. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 2.63%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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). The stock had a Golden Star Signal on Friday, February 16, 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.
Golden Star
The stock had a Golden Star Signal on Friday, February 16, 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.
A sell signal from a double top formation was found on Wednesday, February 07, 2024 and based on theory for this formation the price should fall by -2.64% to ₹167.32 within 7 trading days since signal was issued (Wednesday, April 24, 2024).
Support, Risk & Stop-loss for Kesoram Industries Limited stock
Kesoram Industries Limited finds support from accumulated volume at ₹171.25 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 ₹3.95 between high and low, or 2.34%. For the last week, the stock has had daily average volatility of 2.73%.
Our recommended stop-loss: ₹163.20 (-5.03%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (KESORAMIND.BO) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Kesoram Industries Limited to open at ₹171.20, and during the day (based on 14 day Average True Range), to move between ₹167.52 and ₹176.18, which gives a possible trading interval of +/-₹4.33 (+/-2.52%) up or down from last closing price. If Kesoram Industries Limited takes out the full calculated possible swing range there will be an estimated 5.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹171.25 (0.35%) than the resistance at ₹173.00 (0.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Kesoram Industries Limited will release earnings BMO on Friday, April 26, 2024. We will update the financials statements for Kesoram Industries Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.49% in the first trading day after earnings release.
Is Kesoram Industries Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Kesoram Industries Limited stock to perform well in the short-term period.
Current score: 2.576 Buy Candidate Unchanged
Predicted Opening Price for Kesoram Industries Limited of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| ₹171.20 ( 0.378%) | ₹171.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KESORAMIND.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 175.15 | 1.92 % | |
| R2 | 173.64 | 1.04 % | ||
| R1 | 172.71 | 0.500 % | ||
| Current price: | 171.85 | |||
| Support | S1 | 169.69 | -1.26 % | |
| S2 | 168.76 | -1.80 % | ||
| S3 | 167.25 | -2.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 173.95 | 1.22 % | |
| R2 | 173.45 | 0.93 % | ||
| R1 | 173.00 | 0.669 % | ||
| Current price | 171.85 | |||
| Support | S1 | 171.25 | -0.349% | |
| S2 | 168.00 | -2.24% | ||
| S3 | 167.55 | -2.50% |
FAQ
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