Manugraph India Limited Stock Forecast
Big movements in Manugraph India Limited stock price on Wednesday moving 11.02% between high and low
(Updated on Jun 19, 2024)
The Manugraph India Limited stock price gained 1.80% on the last trading day (Wednesday, 19th Jun 2024), rising from ₹22.75 to ₹23.16. During the last trading day the stock fluctuated 11.02% from a day low at ₹21.60 to a day high of ₹23.98. The price has risen in 7 of the last 10 days and is up by 19.38% over the past 2 weeks. Volume fell on the last day by -15 thousand shares and in total, 6 thousand shares were bought and sold for approximately ₹130.00 thousand. 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 very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.55% during the next 3 months and, with a 90% probability hold a price between ₹17.00 and ₹23.03 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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MANUGRAPH.BO Signals & Forecast
The Manugraph India 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 ₹21.46 and ₹22.27. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 25.87%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Manugraph India Limited stock
Manugraph India Limited finds support from accumulated volume at ₹22.77 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved ₹2.38 between high and low, or 11.02%. For the last week the stock has had daily average volatility of 7.74%.
Our recommended stop-loss: ₹22.36 (-3.44%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (MANUGRAPH.BO) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Manugraph India Limited to open at ₹22.91, and during the day (based on 14 day Average True Range), to move between ₹21.80 and ₹24.52, which gives a possible trading interval of +/-₹1.36 (+/-5.86%) up or down from last closing price. If Manugraph India Limited takes out the full calculated possible swing range there will be an estimated 11.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹22.77 (1.68%) than the resistance at ₹24.77 (6.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Manugraph India Limited stock A Buy?
Manugraph India 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: 0.966 Hold/Accumulate Unchanged
Predicted Opening Price for Manugraph India Limited of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| ₹22.91 ( 1.07%) | ₹23.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MANUGRAPH.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.29 | 9.21% |
| R2 | 24.38 | 5.29% |
| R1 | 23.82 | 2.86% |
| Price | 23.16 | |
| S1 | 22.00 | -4.99% |
| S2 | 21.44 | -7.42% |
| S3 | 20.53 | -11.34% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.33 | 9.37% |
| R2 | 24.99 | 7.90% |
| R1 | 24.77 | 6.95% |
| Price | 23.16 | |
| S1 | 22.77 | -1.68% |
| S2 | 22.75 | -1.77% |
| S3 | 20.42 | -11.83% |
MANUGRAPH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 04, 2019 | Dec 04, 2019 | Dec 16, 2019 | ₹0.500 | 3.74% |
| 2 | Jul 19, 2017 | Jul 19, 2017 | Aug 26, 2017 | ₹0.500 | 1.06% |
| 3 | Jul 18, 2016 | Jul 18, 2016 | Jul 18, 2016 | ₹1.00 | 1.80% |
| 4 | Aug 05, 2015 | Aug 05, 2015 | Aug 05, 2015 | ₹0.500 | 1.39% |
| 5 | Aug 13, 2014 | Aug 13, 2014 | Aug 13, 2014 | ₹1.00 | 3.40% |
FAQ
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