Munjal Showa Limited Stock Forecast
Stronger technical forecast for Munjal Showa Limited stock price after Friday trading.
(Updated on May 24, 2024)
The Munjal Showa Limited stock price gained 3.38% on the last trading day (Friday, 24th May 2024), rising from ₹164.30 to ₹169.85. During the last trading day the stock fluctuated 5.22% from a day low at ₹164.85 to a day high of ₹173.45. The price has risen in 5 of the last 10 days and is up by 7.43% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 242 thousand more shares were traded than the day before. In total, 309 thousand shares were bought and sold for approximately ₹52.48 million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is ₹166.78, a level that may pose a second chance to hit a runner. According to fan-theory ₹198.18 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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MUNJALSHOW.NS Signals & Forecast
The Munjal Showa 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 ₹166.89 and ₹162.84. 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). 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. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -2.16%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Munjal Showa Limited stock
Munjal Showa Limited finds support from accumulated volume at ₹165.70 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 ₹8.60 between high and low, or 5.22%. For the last week, the stock has had daily average volatility of 2.60%.
Our recommended stop-loss: ₹161.74 (-4.77%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 49 days ago.)
Trading Expectations (MUNJALSHOW.NS) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect Munjal Showa Limited to open at ₹169.38, and during the day (based on 14 day Average True Range), to move between ₹164.24 and ₹175.46, which gives a possible trading interval of +/-₹5.61 (+/-3.30%) up or down from last closing price. If Munjal Showa Limited takes out the full calculated possible swing range there will be an estimated 6.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹165.70 (2.44%) than the resistance at ₹177.95 (4.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Munjal Showa Limited will release earnings BMO on Wednesday, May 29, 2024. We will update the financials statements for Munjal Showa Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.97% in the first trading day after earnings release.
Is Munjal Showa Limited stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.065 Buy Candidate Upgraded
Predicted Opening Price for Munjal Showa Limited of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| ₹169.38 ( 0.275%) | ₹169.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MUNJALSHOW.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 177.98 | 4.79 % | |
| R2 | 174.70 | 2.85 % | ||
| R1 | 172.67 | 1.66 % | ||
| Current price: | 169.85 | |||
| Support | S1 | 166.10 | -2.21 % | |
| S2 | 164.07 | -3.40 % | ||
| S3 | 160.78 | -5.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 194.65 | 14.60 % | |
| R2 | 187.40 | 10.33 % | ||
| R1 | 177.95 | 4.77 % | ||
| Current price | 169.85 | |||
| Support | S1 | 165.70 | -2.44% | |
| S2 | 160.80 | -5.33% | ||
| S3 | 156.60 | -7.80% |
MUNJALSHOW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 04, 2023 | Aug 04, 2023 | Aug 04, 2023 | ₹4.50 | 3.20% |
| 2 | Aug 03, 2023 | Aug 03, 2023 | Aug 03, 2023 | ₹4.50 | 3.16% |
| 3 | Jul 28, 2022 | Jul 28, 2022 | Jul 28, 2022 | ₹4.50 | 4.36% |
| 4 | Aug 12, 2021 | Aug 12, 2021 | Aug 12, 2021 | ₹4.50 | 3.17% |
| 5 | Aug 27, 2020 | Aug 27, 2020 | Aug 27, 2020 | ₹4.50 | 3.00% |
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