MODERN SHARES & STOCKBROKERS L Stock Forecast
MODERN SHARES & STOCKBROKERS L stock price ended at ₹42.44 on Friday, after losing 1.07%.
(Updated on Apr 26, 2024)
The MODERN SHARES & STOCKBROKERS L stock price fell by -1.07% on the last day (Friday, 26th Apr 2024) from ₹42.90 to ₹42.44. During the last trading day the stock fluctuated 5.85% from a day low at ₹42.04 to a day high of ₹44.50. The price has been going up and down for this period, and there has been a 0.09% gain for the last 2 weeks. 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 -6 thousand shares and in total, 6 thousand shares were bought and sold for approximately ₹268.18 thousand.
The stock lies in the middle of a wide and strong 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 52.47% during the next 3 months and, with a 90% probability hold a price between ₹57.90 and ₹67.58 at the end of this 3-month period.
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MODRNSH.BO Signals & Forecast
The MODERN SHARES & STOCKBROKERS L stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹42.41 and ₹37.95. A breakdown below any of these levels will issue sell signals. 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 Wednesday, April 24, 2024, and so far it has fallen -3.11%. Further fall is indicated until a new bottom pivot has been found. 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 MODERN SHARES & STOCKBROKERS L stock
MODERN SHARES & STOCKBROKERS L finds support from accumulated volume at ₹40.64 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 ₹2.46 between high and low, or 5.85%. For the last week the stock has had daily average volatility of 10.19%.
Our recommended stop-loss: ₹40.41 (-4.78%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (MODRNSH.BO) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect MODERN SHARES & STOCKBROKERS L to open at ₹42.99, and during the day (based on 14 day Average True Range), to move between ₹39.38 and ₹45.50, which gives a possible trading interval of +/-₹3.06 (+/-7.20%) up or down from last closing price. If MODERN SHARES & STOCKBROKERS L takes out the full calculated possible swing range there will be an estimated 14.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹42.67 (0.54%) than the support at ₹40.64 (4.24%), 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 MODERN SHARES & STOCKBROKERS L stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for MODERN SHARES & STOCKBROKERS L stock to perform well in the short-term.
Current score: 2.139 Buy Candidate Unchanged
Predicted Opening Price for MODERN SHARES & STOCKBROKERS L of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ₹42.99 ( 1.30%) | ₹42.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MODRNSH.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.45 | 7.10 % | |
| R2 | 44.51 | 4.89 % | ||
| R1 | 43.93 | 3.52 % | ||
| Current price: | 42.44 | |||
| Support | S1 | 42.05 | -0.91 % | |
| S2 | 41.47 | -2.28 % | ||
| S3 | 40.53 | -4.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.80 | 3.20 % | |
| R2 | 42.90 | 1.08 % | ||
| R1 | 42.67 | 0.542 % | ||
| Current price | 42.44 | |||
| Support | S1 | 40.64 | -4.24% | |
| S2 | 39.45 | -7.05% | ||
| S3 | 36.64 | -13.67% |
FAQ
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