Manugraph India Limited Stock Forecast
Manugraph India Limited stock upgraded to Hold/Accumulate.
(Updated on May 21, 2024)
The Manugraph India Limited stock price fell by -2.14% on the last day (Tuesday, 21st May 2024) from ₹23.35 to ₹22.85. During the last trading day the stock fluctuated 7.56% from a day low at ₹22.50 to a day high of ₹24.20. The price has fallen in 6 of the last 10 days and is down by -7.11% for this period. Volume has increased on the last day by 19 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 19 thousand shares were bought and sold for approximately ₹429.76 thousand.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Manugraph India Limited stock with a 90% probability to be traded between ₹20.87 and ₹26.02 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MANUGRAPH.NS Signals & Forecast
There are few to no technical positive signals at the moment. The Manugraph India 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 ₹22.99 and ₹23.44. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -10.39%. 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). Manugraph India Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Manugraph India Limited stock
Manugraph India Limited finds support from accumulated volume at ₹21.90 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 ₹1.70 between high and low, or 7.56%. For the last week, the stock has had daily average volatility of 4.52%.
Our recommended stop-loss: ₹21.62 (-5.40%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 45 days ago.)
Trading Expectations (MANUGRAPH.NS) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Manugraph India Limited to open at ₹23.18, and during the day (based on 14 day Average True Range), to move between ₹21.67 and ₹24.03, which gives a possible trading interval of +/-₹1.18 (+/-5.17%) up or down from last closing price. If Manugraph India Limited takes out the full calculated possible swing range there will be an estimated 10.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹21.90 (4.16%) than the resistance at ₹25.10 (9.85%), 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 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 Manugraph India Limited of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| ₹23.18 ( 1.46%) | ₹22.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MANUGRAPH.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.88 | 8.90 % | |
| R2 | 24.23 | 6.06 % | ||
| R1 | 23.83 | 4.30 % | ||
| Current price: | 22.85 | |||
| Support | S1 | 22.53 | -1.38 % | |
| S2 | 22.13 | -3.14 % | ||
| S3 | 21.48 | -5.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.50 | 11.60 % | |
| R2 | 25.40 | 11.16 % | ||
| R1 | 25.10 | 9.85 % | ||
| Current price | 22.85 | |||
| Support | S1 | 21.90 | -4.16% | |
| S2 | 20.85 | -8.75% | ||
| S3 | 20.20 | -11.60% |
MANUGRAPH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 28, 2019 | Dec 04, 2019 | Jan 10, 2020 | ₹0.500 | 3.47% |
| 2 | May 24, 2018 | Jul 20, 2018 | Aug 29, 2018 | ₹0.600 | 1.44% |
| 3 | May 26, 2017 | Jul 19, 2017 | Aug 26, 2017 | ₹0.500 | 1.07% |
| 4 | May 26, 2016 | Jul 18, 2016 | Aug 25, 2016 | ₹1.00 | 2.00% |
| 5 | May 27, 2015 | Aug 05, 2015 | Sep 12, 2015 | ₹0.500 | 1.57% |
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