Murudeshwar Ceramics Limited Stock Forecast
Stronger technical forecast for Murudeshwar Ceramics Limited stock price after Wednesday trading.
(Updated on Jun 26, 2024)
The Murudeshwar Ceramics Limited stock price fell by -0.573% on the last day (Wednesday, 26th Jun 2024) from ₹52.40 to ₹52.10. During the last trading day the stock fluctuated 2.58% from a day low at ₹51.62 to a day high of ₹52.95. The price has risen in 7 of the last 10 days and is up by 14.73% over the past 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 -60 thousand shares and in total, 69 thousand shares were bought and sold for approximately ₹3.60 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹54.05 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -6.48% during the next 3 months and, with a 90% probability hold a price between ₹36.79 and ₹50.55 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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MURUDCERA.NS Signals & Forecast
The Murudeshwar Ceramics 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 ₹50.77 and ₹47.63. 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 Monday, June 24, 2024, and so far it has fallen -3.82%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Monday, June 24, 2024 and based on theory for this formation the price should fall by -31.79% to ₹35.54 within 39 trading days since signal was issued (Wednesday, August 21, 2024).
Support, Risk & Stop-loss for Murudeshwar Ceramics Limited stock
Murudeshwar Ceramics Limited finds support from accumulated volume at ₹51.55 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 ₹1.33 between high and low, or 2.58%. For the last week, the stock has had daily average volatility of 6.04%.
The Murudeshwar Ceramics Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: ₹50.16 (-3.72%) (This stock has high daily movements and this gives high risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (MURUDCERA.NS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Murudeshwar Ceramics Limited to open at ₹52.22, and during the day (based on 14 day Average True Range), to move between ₹49.56 and ₹54.64, which gives a possible trading interval of +/-₹2.54 (+/-4.87%) up or down from last closing price. If Murudeshwar Ceramics Limited takes out the full calculated possible swing range there will be an estimated 9.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹52.40 (0.58%) than the support at ₹51.55 (1.06%), 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 Murudeshwar Ceramics Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.774 Buy Candidate Upgraded
Predicted Opening Price for Murudeshwar Ceramics Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₹52.22 ( 0.237%) | ₹52.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MURUDCERA.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 53.55 | 2.79% |
| R2 | 53.05 | 1.81% |
| R1 | 52.73 | 1.21% |
| Price | 52.10 | |
| S1 | 51.72 | -0.738% |
| S2 | 51.40 | -1.34% |
| S3 | 50.89 | -2.32% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 54.17 | 3.97% |
| R2 | 54.10 | 3.84% |
| R1 | 52.40 | 0.576% |
| Price | 52.10 | |
| S1 | 51.55 | -1.06% |
| S2 | 49.85 | -4.32% |
| S3 | 48.75 | -6.43% |
MURUDCERA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 14, 2023 | Sep 14, 2023 | Oct 22, 2023 | ₹0.500 | 0.81% |
| 2 | Jun 27, 2009 | Sep 14, 2009 | Oct 23, 2009 | ₹0.455 | 1.78% |
| 3 | Jun 29, 2008 | Sep 17, 2008 | Oct 25, 2008 | ₹0.91 | 4.56% |
| 4 | Jun 23, 2007 | Sep 18, 2007 | Oct 25, 2007 | ₹1.52 | 1.69% |
| 5 | Jul 28, 2006 | Sep 18, 2006 | Oct 05, 2006 | ₹1.52 | 2.08% |
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