Oswal Agro Mills Limited Stock Forecast
Stronger technical forecast for Oswal Agro Mills Limited stock price after Friday trading.
(Updated on Jun 14, 2024)
The Oswal Agro Mills Limited stock price fell by -0.290% on the last day (Friday, 14th Jun 2024) from ₹44.87 to ₹44.74. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 4.79% from a day low at ₹43.22 to a day high of ₹45.29. The price has been going up and down for this period, and there has been a 5.22% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -7 thousand shares and in total, 9 thousand shares were bought and sold for approximately ₹381.54 thousand.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 8.61% during the next 3 months and, with a 90% probability hold a price between ₹45.36 and ₹53.15 at the end of this 3-month period.
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OSWALAGRO.BO Signals & Forecast
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. The Oswal Agro Mills Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹45.36 and ₹44.95. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -4.79%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Oswal Agro Mills Limited stock
Oswal Agro Mills Limited finds support from accumulated volume at ₹44.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved ₹2.07 between high and low, or 4.79%. For the last week the stock has had daily average volatility of 6.03%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OSWALAGRO.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Oswal Agro Mills Limited to open at ₹44.42, and during the day (based on 14 day Average True Range), to move between ₹42.73 and ₹46.75, which gives a possible trading interval of +/-₹2.01 (+/-4.49%) up or down from last closing price. If Oswal Agro Mills Limited takes out the full calculated possible swing range there will be an estimated 8.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹44.75 (0.02%) than the support at ₹44.15 (1.32%), 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 Oswal Agro Mills Limited stock A Buy?
The Oswal Agro Mills Limited stock holds several negative signals and despite the positive trend, we believe Oswal Agro Mills Limited will perform weakly in the next couple of days or weeks. Therefore, we 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: -4.458 Sell Candidate Upgraded
Predicted Opening Price for Oswal Agro Mills Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹44.42 ( 0.723%) | ₹44.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OSWALAGRO.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 46.49 | 3.90% |
| R2 | 45.70 | 2.14% |
| R1 | 45.21 | 1.04% |
| Price | 44.74 | |
| S1 | 43.63 | -2.49% |
| S2 | 43.14 | -3.58% |
| S3 | 42.35 | -5.35% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 46.99 | 5.03% |
| R2 | 45.60 | 1.92% |
| R1 | 44.75 | 0.0224% |
| Price | 44.74 | |
| S1 | 44.15 | -1.32% |
| S2 | 40.97 | -8.43% |
| S3 | 39.86 | -10.91% |
FAQ
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