Modi Naturals Limited Stock Forecast
Evaluation of Modi Naturals Limited stock downgraded after the last trading session.
(Updated on May 10, 2024)
The Modi Naturals Limited stock price fell by -0.480% on the last day (Friday, 10th May 2024) from ₹208.15 to ₹207.15. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 2.90% from a day low at ₹207.00 to a day high of ₹213.00. The price has fallen in 8 of the last 10 days and is down by -5.88% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -206 shares and in total, 2 thousand shares were bought and sold for approximately ₹378.46 thousand.
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 -20.43% during the next 3 months and, with a 90% probability hold a price between ₹130.23 and ₹187.26 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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MODINATUR.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 8.31%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Modi Naturals 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 ₹211.19 and ₹212.94. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Modi Naturals Limited stock
Modi Naturals Limited finds support from accumulated volume at ₹205.75 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved ₹6.00 between high and low, or 2.90%. For the last week the stock has had daily average volatility of 3.16%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MODINATUR.BO) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Modi Naturals Limited to open at ₹209.05, and during the day (based on 14 day Average True Range), to move between ₹197.25 and ₹217.05, which gives a possible trading interval of +/-₹9.90 (+/-4.78%) up or down from last closing price. If Modi Naturals Limited takes out the full calculated possible swing range there will be an estimated 9.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹205.75 (0.68%) than the resistance at ₹214.25 (3.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Modi Naturals Limited stock A Buy?
Modi Naturals Limited holds several negative signals and is within a very wide and falling trend, so we believe 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: -1.848 Sell Candidate Downgraded
Predicted Opening Price for Modi Naturals Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ₹209.05 ( 0.92%) | ₹207.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MODINATUR.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 215.05 | 3.81 % | |
| R2 | 212.76 | 2.71 % | ||
| R1 | 211.34 | 2.02 % | ||
| Current price: | 207.15 | |||
| Support | S1 | 206.76 | -0.189 % | |
| S2 | 205.34 | -0.87 % | ||
| S3 | 203.05 | -1.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 257.75 | 24.43 % | |
| R2 | 219.65 | 6.03 % | ||
| R1 | 214.25 | 3.43 % | ||
| Current price | 207.15 | |||
| Support | S1 | 205.75 | -0.676% | |
| S2 | 198.20 | -4.32% | ||
| S3 | 191.25 | -7.68% |
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