Man Infraconstruction Limited Stock Forecast

Man Infraconstruction Limited stock upgraded to Hold/Accumulate.
(Updated on May 21, 2024)

MANINFRA.NS Signals & Forecast

There are few to no technical positive signals at the moment. The Man Infraconstruction Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹199.86 and ₹207.91. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 01, 2024, and so far it has fallen -9.88%. 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). 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 Man Infraconstruction Limited stock

Man Infraconstruction Limited finds support from accumulated volume at ₹190.75 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 ₹5.95 between high and low, or 3.07%. For the last week, the stock has had daily average volatility of 2.79%.

Man Infraconstruction Limited is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: ₹186.69 (-4.53%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 23 which reduces the risk some. There is a sell signal from a pivot top found 15 days ago.)

Trading Expectations (MANINFRA.NS) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect Man Infraconstruction Limited to open at ₹196.53, and during the day (based on 14 day Average True Range), to move between ₹188.73 and ₹202.37, which gives a possible trading interval of +/-₹6.82 (+/-3.49%) up or down from last closing price. If Man Infraconstruction Limited takes out the full calculated possible swing range there will be an estimated 6.97% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹190.75 (2.45%) than the resistance at ₹203.15 (3.89%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Man Infraconstruction Limited stock A Buy?

Man Infraconstruction 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: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Man Infraconstruction Limited of Wednesday, May 22, 2024

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