Navkar Corporation Limited Stock Forecast

High volatility in Navkar Corporation Limited stock price on Tuesday which ended trading at ₹84.35
(Updated on Jun 04, 2024)

NAVKARCORP.NS Signals & Forecast

There are few to no technical positive signals at the moment. The Navkar Corporation 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 ₹96.51 and ₹102.50. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -22.22%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Navkar Corporation Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹78.85. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at ₹ may give a huge drop in the stock price.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹19.35 (24.92%) between high and low. For the last week, the stock has had daily average volatility of 8.68%.

Navkar Corporation Limited is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (NAVKARCORP.NS) For The Upcoming Trading Day Of Wednesday 5th

For the upcoming trading day on Wednesday, 5th we expect Navkar Corporation Limited to open at ₹86.33, and during the day (based on 14 day Average True Range), to move between ₹79.01 and ₹89.69, which gives a possible trading interval of +/-₹5.34 (+/-6.33%) up or down from last closing price. If Navkar Corporation Limited takes out the full calculated possible swing range there will be an estimated 12.66% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹78.85 (6.52%) than the resistance at ₹100.55 (19.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Navkar Corporation Limited stock A Buy?

The Navkar Corporation Limited stock holds several negative signals and despite the positive trend, we believe Navkar Corporation Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.202 Sell Candidate Unchanged

Predicted Opening Price for Navkar Corporation Limited of Wednesday, June 5, 2024

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