Kothari Sugars and Chemicals Limited Stock Forecast

Weaker technical forecast for Kothari Sugars and Chemicals Limited as stock downgraded to Sell Candidate.
(Updated on May 17, 2024)

KOTARISUG.NS Signals & Forecast

There are few to no technical positive signals at the moment. The Kothari Sugars and Chemicals 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 ₹58.10 and ₹58.36. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -5.54%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Friday, January 19, 2024 in the long-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.

Support, Risk & Stop-loss for Kothari Sugars and Chemicals Limited stock

Kothari Sugars and Chemicals Limited finds support from accumulated volume at ₹57.40 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 ₹3.95 (6.99%) between high and low. For the last week, the stock has had daily average volatility of 4.40%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (KOTARISUG.NS) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Kothari Sugars and Chemicals Limited to open at ₹58.32, and during the day (based on 14 day Average True Range), to move between ₹55.17 and ₹60.83, which gives a possible trading interval of +/-₹2.83 (+/-4.89%) up or down from last closing price. If Kothari Sugars and Chemicals Limited takes out the full calculated possible swing range there will be an estimated 9.77% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹57.40 (1.03%) than the resistance at ₹59.00 (1.72%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Kothari Sugars and Chemicals Limited stock A Buy?

Kothari Sugars and Chemicals Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -3.768 Sell Candidate Downgraded

Predicted Opening Price for Kothari Sugars and Chemicals Limited of Monday, May 20, 2024

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