Mangalam Cement Limited Stock Forecast
Mangalam Cement Limited stock price ended at ₹860.60 on Tuesday, after gaining 0.549%.
(Updated on Jun 25, 2024)
The Mangalam Cement Limited stock price gained 0.549% on the last trading day (Tuesday, 25th Jun 2024), rising from ₹855.90 to ₹860.60. During the last trading day the stock fluctuated 1.87% from a day low at ₹851.00 to a day high of ₹866.90. The price has fallen in 6 of the last 10 days and is down by -0.3% for this period. Volume fell on the last day by -20 thousand shares and in total, 50 thousand shares were bought and sold for approximately ₹42.82 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong 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 13.69% during the next 3 months and, with a 90% probability hold a price between ₹921.24 and ₹1,135.69 at the end of this 3-month period.
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MANGLMCEM.NS Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Mangalam Cement 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 ₹885.20 and ₹872.84. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -6.43%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Mangalam Cement Limited stock
Mangalam Cement Limited finds support from accumulated volume at ₹838.60 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 ₹15.90 between high and low, or 1.87%. For the last week, the stock has had daily average volatility of 3.43%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MANGLMCEM.NS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Mangalam Cement Limited to open at ₹859.50, and during the day (based on 14 day Average True Range), to move between ₹823.60 and ₹897.60, which gives a possible trading interval of +/-₹37.00 (+/-4.30%) up or down from last closing price. If Mangalam Cement Limited takes out the full calculated possible swing range there will be an estimated 8.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹838.60 (2.56%) than the resistance at ₹894.75 (3.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mangalam Cement Limited stock A Buy?
The Mangalam Cement Limited stock holds several negative signals and despite the positive trend, we believe Mangalam Cement Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.665 Sell Candidate Unchanged
Predicted Opening Price for Mangalam Cement Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹859.50 ( 0.128%) | ₹860.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MANGLMCEM.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 875.40 | 1.72% |
| R2 | 869.33 | 1.01% |
| R1 | 865.57 | 0.578% |
| Price | 860.60 | |
| S1 | 853.43 | -0.83% |
| S2 | 849.67 | -1.27% |
| S3 | 843.60 | -1.98% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 927.15 | 7.73% |
| R2 | 919.35 | 6.83% |
| R1 | 894.75 | 3.97% |
| Price | 860.60 | |
| S1 | 838.60 | -2.56% |
| S2 | 812.75 | -5.56% |
| S3 | 804.45 | -6.52% |
MANGLMCEM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 19, 2024 | Jul 19, 2024 | Aug 26, 2024 | ₹1.50 | 0.174% |
| 2 | Jul 28, 2023 | Jul 28, 2023 | Jul 28, 2023 | ₹1.50 | 0.508% |
| 3 | Jul 27, 2023 | Jul 27, 2023 | Jul 27, 2023 | ₹1.50 | 0.499% |
| 4 | Aug 25, 2022 | Aug 25, 2022 | Aug 25, 2022 | ₹1.50 | 0.444% |
| 5 | Sep 08, 2021 | Sep 08, 2021 | Sep 08, 2021 | ₹1.50 | 0.324% |
FAQ
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