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AI Analysis of PAYTM.BO
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One 97 Communications Limited stock downgraded to Sell Candidate
(Updated on Mar 27, 2024)

Sell candidate since Mar 27, 2024 PDF

The One 97 Communications Limited stock price fell by -0.352% on the last day (Wednesday, 27th Mar 2024) from ₹398.25 to ₹396.85. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 5.29% from a day low at ₹394.00 to a day high of ₹414.85. The price has been going up and down for this period, and there has been a 7.14% 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 -151 thousand shares and in total, 320 thousand shares were bought and sold for approximately ₹126.86 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 -46.88% during the next 3 months and, with a 90% probability hold a price between ₹71.95 and ₹262.36 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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PAYTM.BO Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, February 15, 2024, and so far it has risen 22.01%. 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 One 97 Communications 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 ₹403.46 and ₹397.79. 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 One 97 Communications Limited stock

One 97 Communications Limited finds support from accumulated volume at ₹388.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹20.85 between high and low, or 5.29%. For the last week, the stock has had daily average volatility of 5.08%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PAYTM.BO) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect One 97 Communications Limited to open at ₹401.90, and during the day (based on 14 day Average True Range), to move between ₹373.09 and ₹420.61, which gives a possible trading interval of +/-₹23.76 (+/-5.99%) up or down from last closing price. If One 97 Communications Limited takes out the full calculated possible swing range there will be an estimated 11.97% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹404.10 (1.83%) than the support at ₹388.20 (2.18%), 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 One 97 Communications Limited stock A Buy?

One 97 Communications Limited holds several negative signals and is within a very wide and falling trend, so we believe 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 Hold/Accumulate to a Sell candidate.

Current score: -1.831 Sell Candidate Downgraded

Predicted Opening Price for One 97 Communications Limited of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
₹401.90 ( 1.27%) ₹396.85

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for PAYTM.BO

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 422.75 6.53 %
R2 414.79 4.52 %
R1 409.86 3.28 %
Current price: 396.85
Support S1 393.94 -0.734 %
S2 389.01 -1.97 %
S3 381.05 -3.98 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 451.60 13.80 %
R2 447.10 12.66 %
R1 404.10 1.83 %
Current price 396.85
Support S1 388.20 -2.18%
S2 342.35 -13.73%
S3 341.50 -13.95%

FAQ

What is the symbol for One 97 Communications Limited Stock and on which exchange is it traded?
The symbol for One 97 Communications Limited is PAYTM.BO and it is traded on the XBOM (Bombay Stock Exchange).

Should I buy or sell One 97 Communications Limited Stock?
One 97 Communications Limited holds several negative signals and is within a very wide and falling trend, so we believe 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 Hold/Accumulate to a Sell candidate.

How to buy One 97 Communications Limited Stock?
One 97 Communications Limited Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy One 97 Communications Limited Stock.

What's the current price of One 97 Communications Limited Stock?
As of the end of day on the 2024-03-27, the price of an One 97 Communications Limited (PAYTM.BO) share was ₹396.85.

What is the 52-week high and low for One 97 Communications Limited Stock?
The 52-week high for One 97 Communications Limited Stock is ₹998.30 and the 52-week low is ₹318.35.

When is the next earnings date for One 97 Communications Limited?
The upcoming earnings date for One 97 Communications Limited is May 18, 2024.
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