Omkar Speciality Chemicals Limited Stock Forecast
Red day on Wednesday for Omkar Speciality Chemicals Limited
(Updated on Apr 24, 2024)
The Omkar Speciality Chemicals Limited stock price fell by -0.694% on the last day (Wednesday, 24th Apr 2024) from ₹7.20 to ₹7.15. During the last trading day the stock fluctuated 9.49% from a day low at ₹6.85 to a day high of ₹7.50. The price has fallen in 5 of the last 10 days and is down by -0.69% for this period. Volume has increased on the last day by 9 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 12 thousand shares were bought and sold for approximately ₹83.55 thousand.
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 ₹7.63 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 -22.93% during the next 3 months and, with a 90% probability hold a price between ₹3.97 and ₹5.88 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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OMKARCHEM.NS Signals & Forecast
The Omkar Speciality Chemicals Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹7.30. On a fall, the stock will find some support from the long-term average at approximately ₹6.94. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Friday, April 12, 2024, and so far it has fallen -9.49%. Further fall is indicated until a new bottom pivot has been found. Omkar Speciality Chemicals Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Omkar Speciality Chemicals Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹6.55 and ₹6.25. 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, Omkar Speciality Chemicals Limited finds support just below today's level at ₹6.55. If this is broken, then the next support from accumulated volume will be at ₹6.25 and ₹5.95.
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 ₹0.650 between high and low, or 9.49%. For the last week, the stock has had daily average volatility of 6.43%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OMKARCHEM.NS) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Omkar Speciality Chemicals Limited to open at ₹7.17, and during the day (based on 14 day Average True Range), to move between ₹6.68 and ₹7.62, which gives a possible trading interval of +/-₹0.474 (+/-6.63%) up or down from last closing price. If Omkar Speciality Chemicals Limited takes out the full calculated possible swing range there will be an estimated 13.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹6.55 (8.39%) than the resistance at ₹8.20 (14.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Omkar Speciality Chemicals Limited stock A Buy?
Omkar Speciality Chemicals Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.878 Sell Candidate Unchanged
Predicted Opening Price for Omkar Speciality Chemicals Limited of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
₹7.17 ( 0.233%) | ₹7.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OMKARCHEM.NS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.82 | 9.32 % | |
R2 | 7.57 | 5.85 % | ||
R1 | 7.41 | 3.71 % | ||
Current price: | 7.15 | |||
Support | S1 | 6.92 | -3.24 % | |
S2 | 6.76 | -5.39 % | ||
S3 | 6.52 | -8.86 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.75 | 22.38 % | |
R2 | 8.65 | 20.98 % | ||
R1 | 8.20 | 14.69 % | ||
Current price | 7.15 | |||
Support | S1 | 6.55 | -8.39% | |
S2 | 6.25 | -12.59% | ||
S3 | 5.95 | -16.78% |
OMKARCHEM Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 23, 2016 | Sep 15, 2016 | Oct 26, 2016 | ₹1.50 | 3.15% |
2 | May 19, 2015 | Sep 16, 2015 | Oct 24, 2015 | ₹1.50 | 2.24% |
3 | May 10, 2014 | Jul 31, 2014 | Aug 30, 2014 | ₹1.50 | 3.72% |
4 | May 20, 2013 | Aug 02, 2013 | Aug 26, 2013 | ₹1.50 | 5.43% |
5 | May 21, 2012 | Jul 26, 2012 | Sep 03, 2012 | ₹1.25 | 5.69% |
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