Panchsheel Organics Limited Stock Forecast
Panchsheel Organics Limited stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)
The Panchsheel Organics Limited stock price fell by -1.16% on the last day (Friday, 3rd May 2024) from ₹198.85 to ₹196.55. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 1.99% from a day low at ₹196.10 to a day high of ₹200.00. The price has fallen in 7 of the last 10 days and is down by -2.77% for this period. 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 -8 thousand shares and in total, 17 thousand shares were bought and sold for approximately ₹3.29 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at ₹194.16 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Panchsheel Organics Limited stock with a 90% probability to be traded between ₹191.81 and ₹217.34 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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PANCHSHEEL.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 0.717%. 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. The Panchsheel Organics 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 ₹201.09 and ₹203.41. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Panchsheel Organics Limited stock
Panchsheel Organics Limited finds support from accumulated volume at ₹195.55 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹3.90 between high and low, or 1.99%. For the last week the stock has had daily average volatility of 3.03%.
Our recommended stop-loss: ₹183.92 (-6.43%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (PANCHSHEEL.BO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Panchsheel Organics Limited to open at ₹197.55, and during the day (based on 14 day Average True Range), to move between ₹189.37 and ₹203.73, which gives a possible trading interval of +/-₹7.18 (+/-3.65%) up or down from last closing price. If Panchsheel Organics Limited takes out the full calculated possible swing range there will be an estimated 7.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹195.55 (0.51%) than the resistance at ₹206.60 (5.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Panchsheel Organics Limited stock A Buy?
Panchsheel Organics Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.321 Hold/Accumulate Upgraded
Predicted Opening Price for Panchsheel Organics Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹197.55 ( 0.509%) | ₹196.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PANCHSHEEL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 201.45 | 2.49 % | |
| R2 | 199.96 | 1.74 % | ||
| R1 | 199.04 | 1.27 % | ||
| Current price: | 196.55 | |||
| Support | S1 | 196.06 | -0.249 % | |
| S2 | 195.14 | -0.717 % | ||
| S3 | 193.65 | -1.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 209.25 | 6.46 % | |
| R2 | 207.60 | 5.62 % | ||
| R1 | 206.60 | 5.11 % | ||
| Current price | 196.55 | |||
| Support | S1 | 195.55 | -0.509% | |
| S2 | 195.40 | -0.585% | ||
| S3 | 193.55 | -1.53% |
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