Pritish Nandy Communications Ltd Stock Forecast

High volatility in Pritish Nandy Communications Ltd stock price on Friday which ended trading at ₹63.04
(Updated on Apr 26, 2024)

PNC.BO Signals & Forecast

The Pritish Nandy Communications Ltd 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 ₹59.74 and ₹58.65. A breakdown below any of these levels will issue sell signals. 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, April 25, 2024, and so far it has fallen -3.16%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Pritish Nandy Communications Ltd stock

Pritish Nandy Communications Ltd finds support from accumulated volume at ₹61.80 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹7.04 between high and low, or 11.39%. For the last week the stock has had daily average volatility of 8.37%.

Our recommended stop-loss: ₹59.86 (-5.04%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (PNC.BO) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Pritish Nandy Communications Ltd to open at ₹64.56, and during the day (based on 14 day Average True Range), to move between ₹58.48 and ₹67.60, which gives a possible trading interval of +/-₹4.56 (+/-7.24%) up or down from last closing price. If Pritish Nandy Communications Ltd takes out the full calculated possible swing range there will be an estimated 14.48% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹61.80 (1.97%) than the resistance at ₹64.90 (2.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Pritish Nandy Communications Ltd stock A Buy?

Pritish Nandy Communications Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.152 Hold/Accumulate Downgraded

Predicted Opening Price for Pritish Nandy Communications Ltd of Monday, April 29, 2024

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