Prakash Steelage Limited Stock Forecast
Prakash Steelage Limited stock price ended at ₹9.35 on Monday, after losing 1.58%.
(Updated on May 27, 2024)
The Prakash Steelage Limited stock price fell by -1.58% on the last day (Monday, 27th May 2024) from ₹9.50 to ₹9.35. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 0% from a day low at ₹9.35 to a day high of ₹9.35. The price has risen in 5 of the last 10 days and is up by 22.22% over the past 2 weeks. 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 -112 thousand shares and in total, 74 thousand shares were bought and sold for approximately ₹695.91 thousand.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.19% during the next 3 months and, with a 90% probability hold a price between ₹7.88 and ₹10.77 at the end of this 3-month period.
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PRAKASHSTL.NS Signals & Forecast
The Prakash Steelage Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹9.56. On a fall, the stock will find some support from the long-term average at approximately ₹8.48. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Tuesday, May 21, 2024, and so far it has fallen -7.43%. Further fall is indicated until a new bottom pivot has been found. 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 Prakash Steelage Limited stock
Prakash Steelage Limited finds support from accumulated volume at ₹9.20 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved ₹0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.404%.
Our recommended stop-loss: ₹8.91 (-4.69%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (PRAKASHSTL.NS) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Prakash Steelage Limited to open at ₹9.35, and during the day (based on 14 day Average True Range), to move between ₹9.09 and ₹9.61, which gives a possible trading interval of +/-₹0.258 (+/-2.76%) up or down from last closing price. If Prakash Steelage Limited takes out the full calculated possible swing range there will be an estimated 5.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹9.20 (1.60%) than the resistance at ₹9.60 (2.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Prakash Steelage Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Prakash Steelage Limited stock to perform well in the short-term.
Current score: 1.728 Buy Candidate Unchanged
Predicted Opening Price for Prakash Steelage Limited of Tuesday, May 28, 2024
Fair opening price May 28, 2024 | Current price |
---|---|
₹9.35 ( 0%) | ₹9.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRAKASHSTL.NS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.35 | . | |
R2 | 9.35 | . | ||
R1 | 9.35 | . | ||
Current price: | 9.35 | |||
Support | S1 | 9.35 | . | |
S2 | 9.35 | . | ||
S3 | 9.35 | . |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.10 | 8.02 % | |
R2 | 9.90 | 5.88 % | ||
R1 | 9.60 | 2.67 % | ||
Current price | 9.35 | |||
Support | S1 | 9.20 | -1.60% | |
S2 | 8.40 | -10.16% | ||
S3 | 8.05 | -13.90% |
PRAKASHSTL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 01, 2015 | Sep 21, 2015 | Oct 03, 2015 | ₹0.0500 | 0.466% |
2 | May 30, 2014 | Sep 11, 2014 | Oct 26, 2014 | ₹0.100 | 0.84% |
3 | May 30, 2013 | Aug 07, 2013 | Sep 13, 2013 | ₹0.100 | 1.10% |
4 | May 28, 2012 | Aug 07, 2012 | Sep 13, 2012 | ₹0.100 | 0.554% |
5 | May 28, 2011 | Aug 08, 2011 | Sep 11, 2011 | ₹0.100 | 0.793% |
FAQ
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