L&T Technology Services Limited Stock Forecast
L&T Technology Services Limited stock upgraded to Hold/Accumulate.
(Updated on Apr 18, 2024)
The L&T Technology Services Limited stock price fell by -0.779% on the last day (Thursday, 18th Apr 2024) from ₹5,317.45 to ₹5,276.05. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.86% from a day low at ₹5,250.00 to a day high of ₹5,400.00. The price has fallen in 7 of the last 10 days and is down by -5.81% for this period. Volume has increased on the last day by 4 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, 13 thousand shares were bought and sold for approximately ₹66.72 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at ₹5,165.51 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect L&T Technology Services Limited stock with a 90% probability to be traded between ₹5,198.64 and ₹5,871.70 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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LTTS.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 L&T Technology Services Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹5,546.42 and ₹5,415.07. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -9.50%. 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 L&T Technology Services Limited stock
L&T Technology Services Limited finds support from accumulated volume at ₹5,266.50 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 ₹150.00 between high and low, or 2.86%. For the last week, the stock has had daily average volatility of 3.69%.
Our recommended stop-loss: ₹5,008.03 (-5.08%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (LTTS.BO) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect L&T Technology Services Limited to open at ₹5,308.68, and during the day (based on 14 day Average True Range), to move between ₹5,110.91 and ₹5,441.19, which gives a possible trading interval of +/-₹165.14 (+/-3.13%) up or down from last closing price. If L&T Technology Services Limited takes out the full calculated possible swing range there will be an estimated 6.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹5,266.50 (0.18%) than the resistance at ₹5,417.90 (2.69%), 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
L&T Technology Services Limited will release earnings BMO on Thursday, April 25, 2024. We will update the financials statements for L&T Technology Services Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.79% in the first trading day after earnings release.
Is L&T Technology Services Limited stock A Buy?
L&T Technology Services Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.778 Hold/Accumulate Upgraded
Predicted Opening Price for L&T Technology Services Limited of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| ₹5,308.68 ( 0.619%) | ₹5,276.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LTTS.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5,458.68 | 3.46 % | |
| R2 | 5,401.38 | 2.38 % | ||
| R1 | 5,365.98 | 1.70 % | ||
| Current price: | 5,276.05 | |||
| Support | S1 | 5,251.38 | -0.468 % | |
| S2 | 5,215.98 | -1.14 % | ||
| S3 | 5,158.68 | -2.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5,755.10 | 9.08 % | |
| R2 | 5,440.85 | 3.12 % | ||
| R1 | 5,417.90 | 2.69 % | ||
| Current price | 5,276.05 | |||
| Support | S1 | 5,266.50 | -0.181% | |
| S2 | 5,264.90 | -0.211% | ||
| S3 | 5,254.10 | -0.416% |
FAQ
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