Nyssa Corporation Limited Stock Forecast

On Friday, Nyssa Corporation Limited stock price gained an impressive 8.04%
(Updated on Jun 14, 2024)

NYSSACORP.BO Signals & Forecast

The Nyssa Corporation 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 ₹6.39 and ₹6.17. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 18.27%. Further rise is indicated until a new top pivot has been found. Nyssa Corporation Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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).

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

On the downside, the stock finds support just below today's level from accumulated volume at ₹6.63 and ₹6.42. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Nyssa Corporation Limited finds support just below today's level at ₹6.63. If this is broken, then the next support from accumulated volume will be at ₹6.42 and ₹6.29.

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 ₹0.620 between high and low, or 9.57%. For the last week, the stock has had daily average volatility of 9.11%.

Our recommended stop-loss: ₹6.70 (-4.22%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 24 days ago.)

Trading Expectations (NYSSACORP.BO) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Nyssa Corporation Limited to open at ₹6.86, and during the day (based on 14 day Average True Range), to move between ₹6.59 and ₹7.39, which gives a possible trading interval of +/-₹0.403 (+/-5.77%) up or down from last closing price. If Nyssa Corporation Limited takes out the full calculated possible swing range there will be an estimated 11.53% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹7.06 (1.00%) than the support at ₹6.63 (5.15%), 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 Nyssa Corporation 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 Hold/Accumulate to a Buy candidate.

Current score: 2.330 Buy Candidate Upgraded

Predicted Opening Price for Nyssa Corporation Limited of Tuesday, June 18, 2024

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