Marksans Pharma Limited Stock Forecast
Marksans Pharma Limited stock price ended at ₹158.90 on Friday, after gaining 1.73%.
(Updated on May 10, 2024)
The Marksans Pharma Limited stock price gained 1.73% on the last trading day (Friday, 10th May 2024), rising from ₹156.20 to ₹158.90. During the last trading day the stock fluctuated 5.31% from a day low at ₹152.40 to a day high of ₹160.50. The price has fallen in 6 of the last 10 days and is down by -4.79% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 91 thousand more shares were traded than the day before. In total, 163 thousand shares were bought and sold for approximately ₹25.90 million.
The stock lies in the middle of a very wide and weak 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 8.20% during the next 3 months and, with a 90% probability hold a price between ₹153.07 and ₹195.11 at the end of this 3-month period.
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MARKSANS.BO Signals & Forecast
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. The Marksans Pharma 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 ₹161.39 and ₹159.55. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 16, 2024, and so far it has fallen -9.97%. 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).
Support, Risk & Stop-loss for Marksans Pharma Limited stock
Marksans Pharma Limited finds support from accumulated volume at ₹157.95 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 ₹8.10 between high and low, or 5.31%. For the last week, the stock has had daily average volatility of 4.61%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MARKSANS.BO) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Marksans Pharma Limited to open at ₹157.27, and during the day (based on 14 day Average True Range), to move between ₹151.50 and ₹166.30, which gives a possible trading interval of +/-₹7.40 (+/-4.66%) up or down from last closing price. If Marksans Pharma Limited takes out the full calculated possible swing range there will be an estimated 9.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹157.95 (0.60%) than the resistance at ₹170.60 (7.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Marksans Pharma Limited stock A Buy?
The Marksans Pharma Limited stock holds several negative signals and despite the positive trend, we believe Marksans Pharma Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.320 Sell Candidate Unchanged
Predicted Opening Price for Marksans Pharma Limited of Monday, May 13, 2024
Fair opening price May 13, 2024 | Current price |
---|---|
₹157.27 ( 1.03%) | ₹158.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MARKSANS.BO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 165.37 | 4.07 % | |
R2 | 162.27 | 2.12 % | ||
R1 | 160.36 | 0.92 % | ||
Current price: | 158.90 | |||
Support | S1 | 154.17 | -2.98 % | |
S2 | 152.26 | -4.18 % | ||
S3 | 149.17 | -6.13 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 176.50 | 11.08 % | |
R2 | 174.40 | 9.75 % | ||
R1 | 170.60 | 7.36 % | ||
Current price | 158.90 | |||
Support | S1 | 157.95 | -0.598% | |
S2 | 155.90 | -1.89% | ||
S3 | 132.85 | -16.39% |
FAQ
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