Madhav Marbles and Granites Limited Stock Forecast
Green day on Friday for Madhav Marbles and Granites Limited stock after gaining 1.99%
(Updated on Jun 14, 2024)
The Madhav Marbles and Granites Limited stock price gained 1.99% on the last trading day (Friday, 14th Jun 2024), rising from ₹42.76 to ₹43.61. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.95% from a day low at ₹42.36 to a day high of ₹43.61. The price has risen in 6 of the last 10 days and is up by 1.11% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 622 more shares were traded than the day before. In total, 727 shares were bought and sold for approximately ₹31.70 thousand.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.68% during the next 3 months and, with a 90% probability hold a price between ₹41.95 and ₹50.43 at the end of this 3-month period.
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MADHAV.BO Signals & Forecast
The Madhav Marbles and Granites Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹42.69 and ₹42.83. A breakdown below any of these levels will issue sell signals. Madhav Marbles and Granites Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 24, 2024, and so far it has fallen -8.42%. 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).
Support, Risk & Stop-loss for Madhav Marbles and Granites Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹40.50 and ₹38.63. 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, Madhav Marbles and Granites Limited finds support just below today's level at ₹40.50. If this is broken, then the next support from accumulated volume will be at ₹38.63 and ₹38.48.
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 ₹1.25 between high and low, or 2.95%. For the last week, the stock has had daily average volatility of 1.20%.
Our recommended stop-loss: ₹40.82 (-6.40%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 51 days ago.)
Trading Expectations (MADHAV.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Madhav Marbles and Granites Limited to open at ₹43.19, and during the day (based on 14 day Average True Range), to move between ₹42.69 and ₹44.53, which gives a possible trading interval of +/-₹0.92 (+/-2.10%) up or down from last closing price. If Madhav Marbles and Granites Limited takes out the full calculated possible swing range there will be an estimated 4.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹44.90 (2.96%) than the support at ₹40.50 (7.13%), 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 Madhav Marbles and Granites Limited stock A Buy?
Madhav Marbles and Granites 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.
Current score: 0.403 Hold/Accumulate Unchanged
Predicted Opening Price for Madhav Marbles and Granites Limited of Tuesday, June 18, 2024
Fair opening price June 18, 2024 | Current price |
---|---|
₹43.19 ( 0.96%) | ₹43.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MADHAV.BO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 44.44 | 1.91% |
R2 | 43.97 | 0.82% |
R1 | 43.67 | 0.139% |
Price | 43.61 | |
S1 | 42.72 | -2.05% |
S2 | 42.42 | -2.73% |
S3 | 41.94 | -3.82% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 47.62 | 9.20% |
R2 | 46.00 | 5.48% |
R1 | 44.90 | 2.96% |
Price | 43.61 | |
S1 | 40.50 | -7.13% |
S2 | 38.63 | -11.42% |
S3 | 38.48 | -11.76% |
MADHAV Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 23, 2022 | Sep 23, 2022 | Oct 30, 2022 | ₹0.250 | 0.609% |
2 | Aug 31, 2017 | Aug 31, 2017 | Oct 09, 2017 | ₹1.00 | 1.62% |
3 | Aug 04, 2016 | Aug 04, 2016 | Aug 04, 2016 | ₹1.00 | 1.64% |
4 | Aug 05, 2015 | Aug 05, 2015 | Aug 05, 2015 | ₹1.50 | 2.58% |
5 | Jul 31, 2014 | Jul 31, 2014 | Jul 31, 2014 | ₹1.50 | 5.13% |
FAQ
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