Lumax Auto Technologies Limited Stock Forecast

Red day on Wednesday for Lumax Auto Technologies Limited stock after losing 0%
(Updated on May 01, 2024)

LUMAXTECH.NS Signals & Forecast

The Lumax Auto Technologies 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 ₹481.48. On a fall, the stock will find some support from the long-term average at approximately ₹468.37. 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 Tuesday, April 30, 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 Lumax Auto Technologies Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹451.55 and ₹451.25. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Lumax Auto Technologies Limited finds support just below today's level at ₹451.55. If this is broken, then the next support from accumulated volume will be at ₹451.25 and ₹416.60.

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 3.22%

Our recommended stop-loss: ₹449.70 (-5.94%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)

Trading Expectations (LUMAXTECH.NS) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Lumax Auto Technologies Limited to open at ₹478.10, and during the day (based on 14 day Average True Range), to move between ₹460.66 and ₹495.54, which gives a possible trading interval of +/-₹17.44 (+/-3.65%) up or down from last closing price. If Lumax Auto Technologies Limited takes out the full calculated possible swing range there will be an estimated 7.30% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹480.85 (0.58%) than the support at ₹451.55 (5.55%), 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 Lumax Auto Technologies Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Lumax Auto Technologies Limited stock to perform well in the short-term.

Current score: 1.659 Buy Candidate Unchanged

Predicted Opening Price for Lumax Auto Technologies Limited of Thursday, May 2, 2024

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