Pudumjee Paper Products Limited Stock Forecast

Evaluation of Pudumjee Paper Products Limited stock downgraded after the last trading session.
(Updated on May 03, 2024)

PDMJEPAPER.BO Signals & Forecast

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 ₹79.65 and ₹68.93. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -2.55%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. 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 ₹83.57 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 ₹5.69 between high and low, or 6.67%. For the last week, the stock has had daily average volatility of 8.24%.

Our recommended stop-loss: ₹83.01 (-4.49%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (PDMJEPAPER.BO) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Pudumjee Paper Products Limited to open at ₹87.70, and during the day (based on 14 day Average True Range), to move between ₹82.28 and ₹91.54, which gives a possible trading interval of +/-₹4.63 (+/-5.33%) 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 10.65% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹89.18 (2.61%) than the support at ₹83.57 (3.84%), 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 we conclude that the current level may hold a buying opportunity, as there is a fair chance for Pudumjee Paper Products Limited stock to perform well in the short-term period. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 1.343 Buy Candidate Downgraded

Predicted Opening Price for Pudumjee Paper Products Limited of Monday, May 6, 2024

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