Marg Techno-Projects Limited Stock Forecast

Red day on Friday for Marg Techno-Projects Limited
(Updated on May 31, 2024)

MTPL.BO Signals & Forecast

The Marg Techno-Projects Limited 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 ₹25.24 and ₹24.54. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has risen 15.83%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point".

Support, Risk & Stop-loss for Marg Techno-Projects Limited stock

Marg Techno-Projects Limited finds support from accumulated volume at ₹24.70 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 ₹0.0200 between high and low, or 0.0779%. For the last week, the stock has had daily average volatility of 1.61%.

Our recommended stop-loss: ₹24.73 (-3.70%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 55 days ago.)

Trading Expectations (MTPL.BO) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Marg Techno-Projects Limited to open at ₹25.69, and during the day (based on 14 day Average True Range), to move between ₹24.82 and ₹26.54, which gives a possible trading interval of +/-₹0.86 (+/-3.35%) up or down from last closing price. If Marg Techno-Projects Limited takes out the full calculated possible swing range there will be an estimated 6.70% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹24.70 (3.82%) than the resistance at ₹26.93 (4.87%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Marg Techno-Projects Limited stock A Buy?

Marg Techno-Projects Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

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 Marg Techno-Projects Limited of Monday, June 3, 2024

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