OM INFRA LIMITED Stock Forecast
Stronger technical forecast for OM INFRA LIMITED stock price after Friday trading.
(Updated on May 31, 2024)
The OM INFRA LIMITED stock price gained 0.230% on the last trading day (Friday, 31st May 2024), rising from ₹108.80 to ₹109.05. During the last trading day the stock fluctuated 4.18% from a day low at ₹106.50 to a day high of ₹110.95. The price has fallen in 6 of the last 10 days and is down by -15.56% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 31 thousand more shares were traded than the day before. In total, 65 thousand shares were bought and sold for approximately ₹7.14 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹108.59 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -7.84% during the next 3 months and, with a 90% probability hold a price between ₹100.08 and ₹126.91 at the end of this 3-month period.
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OMINFRAL.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 0.230%. Further rise is indicated until a new top pivot has been found. 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. The OM INFRA 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 ₹115.71 and ₹130.01. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for OM INFRA LIMITED stock
OM INFRA LIMITED finds support from accumulated volume at ₹108.80 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 ₹4.45 between high and low, or 4.18%. For the last week, the stock has had daily average volatility of 5.72%.
OM INFRA LIMITED is oversold on RSI14 (21). 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 (OMINFRAL.BO) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect OM INFRA LIMITED to open at ₹108.83, and during the day (based on 14 day Average True Range), to move between ₹101.84 and ₹116.26, which gives a possible trading interval of +/-₹7.21 (+/-6.61%) up or down from last closing price. If OM INFRA LIMITED takes out the full calculated possible swing range there will be an estimated 13.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹108.80 (0.23%) than the resistance at ₹120.40 (10.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is OM INFRA LIMITED stock A Buy?
OM INFRA LIMITED holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.157 Sell Candidate Upgraded
Predicted Opening Price for OM INFRA LIMITED of Monday, June 3, 2024
Fair opening price June 3, 2024 | Current price |
---|---|
₹108.83 ( 0.199%) | ₹109.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OMINFRAL.BO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 113.28 | 3.88 % | |
R2 | 111.58 | 2.32 % | ||
R1 | 110.53 | 1.36 % | ||
Current price: | 109.05 | |||
Support | S1 | 107.13 | -1.76 % | |
S2 | 106.08 | -2.72 % | ||
S3 | 104.38 | -4.28 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 130.70 | 19.85 % | |
R2 | 126.80 | 16.28 % | ||
R1 | 120.40 | 10.41 % | ||
Current price | 109.05 | |||
Support | S1 | 108.80 | -0.229% | |
S2 | 0 | . | ||
S3 | 0 | . |
FAQ
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