Nucleus Software Exports Limited Stock Forecast
Nucleus Software Exports Limited stock price ended at ₹1,342.90 on Friday, after gaining 0.535%.
(Updated on May 17, 2024)
The Nucleus Software Exports Limited stock price gained 0.535% on the last trading day (Friday, 17th May 2024), rising from ₹1,335.75 to ₹1,342.90. During the last trading day the stock fluctuated 1.46% from a day low at ₹1,328.95 to a day high of ₹1,348.30. The price has been going up and down for this period, and there has been a -2.85% loss for the last 2 weeks. Volume fell on the last day by -50 shares and in total, 329 shares were bought and sold for approximately ₹441.81 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Nucleus Software Exports Limited stock with a 90% probability to be traded between ₹1,196.75 and ₹1,498.85 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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NUCLEUS.BO Signals & Forecast
The Nucleus Software Exports 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 ₹1,330.71 and ₹1,327.62. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 2.92%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Nucleus Software Exports Limited stock
Nucleus Software Exports Limited finds support from accumulated volume at ₹1,311.00 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹19.35 between high and low, or 1.46%. For the last week the stock has had daily average volatility of 3.02%.
Our recommended stop-loss: ₹1,275.74 (-5.00%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (NUCLEUS.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Nucleus Software Exports Limited to open at ₹1,340.05, and during the day (based on 14 day Average True Range), to move between ₹1,290.14 and ₹1,395.66, which gives a possible trading interval of +/-₹52.76 (+/-3.93%) up or down from last closing price. If Nucleus Software Exports Limited takes out the full calculated possible swing range there will be an estimated 7.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹1,372.05 (2.17%) than the support at ₹1,311.00 (2.38%), 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.
Earnings coming up
Nucleus Software Exports Limited will release earnings BMO on Thursday, May 23, 2024. We will update the financials statements for Nucleus Software Exports Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 11.77% in the first trading day after earnings release.
Is Nucleus Software Exports Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Nucleus Software Exports Limited stock to perform well in the short-term period.
Current score: 1.645 Buy Candidate Unchanged
Predicted Opening Price for Nucleus Software Exports Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹1,340.05 ( 0.212%) | ₹1,342.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NUCLEUS.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,359.40 | 1.23 % | |
| R2 | 1,352.01 | 0.678 % | ||
| R1 | 1,347.44 | 0.338 % | ||
| Current price: | 1,342.90 | |||
| Support | S1 | 1,332.66 | -0.763 % | |
| S2 | 1,328.09 | -1.10 % | ||
| S3 | 1,320.70 | -1.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,409.50 | 4.96 % | |
| R2 | 1,376.55 | 2.51 % | ||
| R1 | 1,372.05 | 2.17 % | ||
| Current price | 1,342.90 | |||
| Support | S1 | 1,311.00 | -2.38% | |
| S2 | 1,287.15 | -4.15% | ||
| S3 | 1,182.45 | -11.95% |
FAQ
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