PI Industries Limited Stock Forecast

PI Industries Limited stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Jun 27, 2024)

PIIND.NS Signals & Forecast

Mostly positive signals in the chart today. The PI Industries 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 ₹3,766.04 and ₹3,648.56. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has risen 8.90%. 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 Tuesday, June 04, 2024 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 PI Industries Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹3,594.25 and ₹3,576.80. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, PI Industries Limited finds support just below today's level at ₹3,594.25. If this is broken, then the next support from accumulated volume will be at ₹3,576.80 and ₹3,539.70.

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 ₹138.95 (3.65%) between high and low. For the last week, the stock has had daily average volatility of 2.67%.

Our recommended stop-loss: ₹3,683.57 (-3.56%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 56 days ago.)

Trading Expectations (PIIND.NS) For The Upcoming Trading Day Of Friday 28th

For the upcoming trading day on Friday, 28th we expect PI Industries Limited to open at ₹3,860.20, and during the day (based on 14 day Average True Range), to move between ₹3,728.12 and ₹3,910.98, which gives a possible trading interval of +/-₹91.43 (+/-2.39%) up or down from last closing price. If PI Industries Limited takes out the full calculated possible swing range there will be an estimated 4.79% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹3,860.55 (1.07%) than the support at ₹3,594.25 (5.90%), 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?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 3.129 Buy Candidate Upgraded

Predicted Opening Price for PI Industries Limited of Friday, June 28, 2024

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