Parsvnath Developers Limited Stock Forecast
Parsvnath Developers Limited stock downgraded from Buy Candidate to Sell Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The Parsvnath Developers Limited stock price fell by -3.38% on the last day (Thursday, 25th Apr 2024) from ₹15.09 to ₹14.58. During the last trading day the stock fluctuated 6.21% from a day low at ₹14.50 to a day high of ₹15.40. The price has fallen in 5 of the last 10 days and is down by -1.15% 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 -86 thousand shares and in total, 124 thousand shares were bought and sold for approximately ₹1.81 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -13.23% during the next 3 months and, with a 90% probability hold a price between ₹9.05 and ₹13.66 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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PARSVNATH.BO Signals & Forecast
The Parsvnath Developers Limited 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 ₹14.05 and ₹13.94. A breakdown below any of these levels will issue sell signals. 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 Monday, April 01, 2024, and so far it has fallen -10.93%. Further fall is indicated until a new bottom pivot has been found. 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 Parsvnath Developers Limited stock
Parsvnath Developers Limited finds support from accumulated volume at ₹14.15 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 ₹0.90 between high and low, or 6.21%. For the last week, the stock has had daily average volatility of 4.79%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PARSVNATH.BO) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Parsvnath Developers Limited to open at ₹14.83, and during the day (based on 14 day Average True Range), to move between ₹13.77 and ₹15.39, which gives a possible trading interval of +/-₹0.81 (+/-5.53%) up or down from last closing price. If Parsvnath Developers Limited takes out the full calculated possible swing range there will be an estimated 11.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹14.15 (2.95%) than the resistance at ₹15.08 (3.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Parsvnath Developers Limited stock A Buy?
Parsvnath Developers 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -1.509 Sell Candidate Downgraded
Predicted Opening Price for Parsvnath Developers Limited of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| ₹14.83 ( 1.69%) | ₹14.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PARSVNATH.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.73 | 7.86 % | |
| R2 | 15.38 | 5.51 % | ||
| R1 | 15.17 | 4.05 % | ||
| Current price: | 14.58 | |||
| Support | S1 | 14.48 | -0.666 % | |
| S2 | 14.27 | -2.12 % | ||
| S3 | 13.93 | -4.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.96 | 16.32 % | |
| R2 | 15.09 | 3.50 % | ||
| R1 | 15.08 | 3.43 % | ||
| Current price | 14.58 | |||
| Support | S1 | 14.15 | -2.95% | |
| S2 | 13.48 | -7.54% | ||
| S3 | 11.78 | -19.20% |
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