PI Industries Limited Stock Forecast
PI Industries Limited stock price ended at ₹3,640.40 on Thursday, after losing 0.318%.
(Updated on May 02, 2024)
The PI Industries Limited stock price fell by -0.318% on the last day (Thursday, 2nd May 2024) from ₹3,652.00 to ₹3,640.40. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.63% from a day low at ₹3,629.00 to a day high of ₹3,688.00. The price has fallen in 6 of the last 10 days and is down by -2.74% 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 -35 thousand shares and in total, 3 thousand shares were bought and sold for approximately ₹10.89 million.
Given the current short-term trend, the stock is expected to rise 9.73% during the next 3 months and, with a 90% probability hold a price between ₹3,994.79 and ₹4,444.40 at the end of this 3-month period.
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PIIND.BO Signals & Forecast
There are few to no technical positive signals at the moment. The PI Industries Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹3,716.40 and ₹3,751.34. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -8.08%. 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 PI Industries Limited stock
PI Industries Limited finds support from accumulated volume at ₹3,564.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹59.00 (1.63%) between high and low. For the last week, the stock has had daily average volatility of 2.40%.
PI Industries Limited is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PIIND.BO) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect PI Industries Limited to open at ₹3,652.47, and during the day (based on 14 day Average True Range), to move between ₹3,545.29 and ₹3,735.51, which gives a possible trading interval of +/-₹95.11 (+/-2.61%) up or down from last closing price. If PI Industries Limited takes out the full calculated possible swing range there will be an estimated 5.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹3,652.00 (0.32%) than the support at ₹3,564.20 (2.09%), 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 PI Industries Limited stock A Buy?
The PI Industries Limited stock holds several negative signals and despite the positive trend, we believe PI Industries Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.878 Sell Candidate Unchanged
Predicted Opening Price for PI Industries Limited of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| ₹3,652.47 ( 0.331%) | ₹3,640.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PIIND.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,711.47 | 1.95 % | |
| R2 | 3,688.93 | 1.33 % | ||
| R1 | 3,675.00 | 0.95 % | ||
| Current price: | 3,640.40 | |||
| Support | S1 | 3,629.93 | -0.288 % | |
| S2 | 3,616.00 | -0.670 % | ||
| S3 | 3,593.47 | -1.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,691.95 | 1.42 % | |
| R2 | 3,652.30 | 0.327 % | ||
| R1 | 3,652.00 | 0.319 % | ||
| Current price | 3,640.40 | |||
| Support | S1 | 3,564.20 | -2.09% | |
| S2 | 3,454.05 | -5.12% | ||
| S3 | 3,401.95 | -6.55% |
FAQ
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