McLeod Russel India Limited Stock Forecast

McLeod Russel India Limited stock downgraded to Sell Candidate
(Updated on Jun 25, 2024)

MCLEODRUSS.NS Signals & Forecast

The McLeod Russel India Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹28.50. On a fall, the stock will find some support from the long-term average at approximately ₹25.20. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -8.47%. Further fall is indicated until a new bottom pivot has been found. 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 McLeod Russel India Limited stock

McLeod Russel India Limited finds support from accumulated volume at ₹26.60 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹2.12 between high and low, or 7.93%. For the last week, the stock has had daily average volatility of 6.53%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (MCLEODRUSS.NS) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect McLeod Russel India Limited to open at ₹27.55, and during the day (based on 14 day Average True Range), to move between ₹25.42 and ₹28.64, which gives a possible trading interval of +/-₹1.61 (+/-5.97%) up or down from last closing price. If McLeod Russel India Limited takes out the full calculated possible swing range there will be an estimated 11.94% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹27.23 (0.74%) than the support at ₹26.60 (1.59%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is McLeod Russel India Limited stock A Buy?

McLeod Russel India Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.371 Sell Candidate Downgraded

Predicted Opening Price for McLeod Russel India Limited of Wednesday, June 26, 2024

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