Pudumjee Paper Products Limited Stock Forecast
Volatile ride for Pudumjee Paper Products Limited stock price on Wednesday moving between ₹66.83 and ₹74.25
(Updated on Apr 24, 2024)
The Pudumjee Paper Products Limited stock price gained 10.02% on the last trading day (Wednesday, 24th Apr 2024), rising from ₹66.77 to ₹73.46. During the last trading day the stock fluctuated 11.10% from a day low at ₹66.83 to a day high of ₹74.25. The price has fallen in 8 of the last 10 days but is still up by 2.48% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 47 thousand more shares were traded than the day before. In total, 65 thousand shares were bought and sold for approximately ₹4.78 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is ₹73.42, a level that may pose a second chance to hit a runner. According to fan-theory ₹94.66 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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PDMJEPAPER.BO Signals & Forecast
Mostly positive signals in the chart today. The Pudumjee Paper Products 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 ₹68.36 and ₹66.66. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 32.58%. 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). Volume is rising along with the price. This is considered to be a good technical signal. The stock had a Golden Star Signal on Monday, December 04, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, December 04, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Pudumjee Paper Products Limited stock
Pudumjee Paper Products Limited finds support from accumulated volume at ₹71.19 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 ₹7.42 between high and low, or 11.10%. For the last week, the stock has had daily average volatility of 6.01%.
Our recommended stop-loss: ₹70.83 (-3.58%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (PDMJEPAPER.BO) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Pudumjee Paper Products Limited to open at ₹71.51, and during the day (based on 14 day Average True Range), to move between ₹69.70 and ₹77.22, which gives a possible trading interval of +/-₹3.76 (+/-5.12%) up or down from last closing price. If Pudumjee Paper Products Limited takes out the full calculated possible swing range there will be an estimated 10.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹73.90 (0.60%) than the support at ₹71.19 (3.09%), 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 Pudumjee Paper Products Limited stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.548 Buy Candidate Upgraded
Predicted Opening Price for Pudumjee Paper Products Limited of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| ₹71.51 ( 2.65%) | ₹73.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PDMJEPAPER.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 78.93 | 7.45 % | |
| R2 | 76.10 | 3.59 % | ||
| R1 | 74.35 | 1.21 % | ||
| Current price: | 73.46 | |||
| Support | S1 | 68.68 | -6.51 % | |
| S2 | 66.93 | -8.89 % | ||
| S3 | 64.09 | -12.75 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 80.38 | 9.42 % | |
| R2 | 79.95 | 8.83 % | ||
| R1 | 73.90 | 0.599 % | ||
| Current price | 73.46 | |||
| Support | S1 | 71.19 | -3.09% | |
| S2 | 67.04 | -8.74% | ||
| S3 | 60.18 | -18.08% |
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