Mangalore Chemicals & Fertilizers Ltd Stock Forecast

Mangalore Chemicals & Fertilizers Ltd stock downgraded to Hold/Accumulate
(Updated on Jun 28, 2024)

MANGCHEFER.BO Signals & Forecast

The Mangalore Chemicals & Fertilizers Ltd 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 ₹127.88. On a fall, the stock will find some support from the long-term average at approximately ₹114.36. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -5.92%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Mangalore Chemicals & Fertilizers Ltd stock

Mangalore Chemicals & Fertilizers Ltd finds support from accumulated volume at ₹126.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹5.35 between high and low, or 4.39%. For the last week, the stock has had daily average volatility of 5.02%.

Our recommended stop-loss: ₹121.32 (-4.05%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 17 days ago.)

Trading Expectations (MANGCHEFER.BO) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Mangalore Chemicals & Fertilizers Limited to open at ₹125.27, and during the day (based on 14 day Average True Range), to move between ₹120.42 and ₹132.48, which gives a possible trading interval of +/-₹6.03 (+/-4.77%) up or down from last closing price. If Mangalore Chemicals & Fertilizers Limited takes out the full calculated possible swing range there will be an estimated 9.54% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹126.20 (0.20%) than the resistance at ₹127.35 (0.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Mangalore Chemicals & Fertilizers Limited stock A Buy?

Mangalore Chemicals & Fertilizers Ltd 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.766 Hold/Accumulate Downgraded

Predicted Opening Price for Mangalore Chemicals & Fertilizers Limited of Monday, July 1, 2024

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