Panyam Cements & Mineral Indus Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
![Bollinger Bottleneck Buy Pattern 1](https://stockinvest.us/assets/img/legend/boll_tight.gif?v=e286bd2437919596200b642acbe7c45175aa9cf4)
![Bollinger Bottleneck Buy Pattern 2](https://stockinvest.us/assets/img/legend/boll_tight2.gif?v=e286bd2437919596200b642acbe7c45175aa9cf4)
![Bollinger Bottleneck Sell Pattern](https://stockinvest.us/assets/img/legend/boll_tight3.gif?v=e286bd2437919596200b642acbe7c45175aa9cf4)
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Panyam Cements & Mineral Indus stock price up 2.00% on Friday
(Updated on Jun 28, 2024)
The Panyam Cements & Mineral Indus stock price gained 2.00% on the last trading day (Friday, 28th Jun 2024), rising from ₹220.45 to ₹224.85. It has now gained 10 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 0% from a day low at ₹224.85 to a day high of ₹224.85. The price has risen in 10 of the last 10 days and is up by 21.74% over the past 2 weeks. Volume fell on the last day by -16 shares and in total, 203 shares were bought and sold for approximately ₹45.64 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very 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 9.28% during the next 3 months and, with a 90% probability hold a price between ₹182.29 and ₹266.38 at the end of this 3-month period.
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PANCM.BO Signals & Forecast
The Panyam Cements & Mineral Indus 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 ₹212.11 and ₹190.78. 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 39.70%. Further rise is indicated until a new top pivot has been found. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Panyam Cements & Mineral Indus stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹211.95 and ₹195.90. 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, Panyam Cements & Mineral Indus finds support just below today's level at ₹211.95. If this is broken, then the next support from accumulated volume will be at ₹195.90 and ₹192.10.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved ₹0 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.17%.
Since the Panyam Cements & Mineral Indus has been rising for 10 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: ₹216.98 (-3.50%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 37 days ago.)
Trading Expectations (PANCM.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Panyam Cements & Mineral Indus to open at ₹224.85, and during the day (based on 14 day Average True Range), to move between ₹220.56 and ₹229.14, which gives a possible trading interval of +/-₹4.29 (+/-1.91%) up or down from last closing price. If Panyam Cements & Mineral Indus takes out the full calculated possible swing range there will be an estimated 3.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹226.50 (0.73%) than the support at ₹211.95 (5.74%), 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 Panyam Cements & Mineral Indus stock A Buy?
Panyam Cements & Mineral Indus holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 5.283 Strong Buy Candidate Unchanged
Predicted Opening Price for Panyam Cements & Mineral Indus of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
₹224.85 ( 0%) | ₹224.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PANCM.BO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 224.85 | - |
R2 | 224.85 | - |
R1 | 224.85 | - |
Price | 224.85 | |
S1 | 224.85 | - |
S2 | 224.85 | - |
S3 | 224.85 | - |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 231.00 | 2.74% |
R2 | 226.75 | 0.85% |
R1 | 226.50 | 0.734% |
Price | 224.85 | |
S1 | 211.95 | -5.74% |
S2 | 195.90 | -12.88% |
S3 | 192.10 | -14.57% |
FAQ
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