PSP Projects Limited Stock Forecast
Green day on Friday for PSP Projects Limited
(Updated on Jun 28, 2024)
The PSP Projects Limited stock price gained 0.699% on the last trading day (Friday, 28th Jun 2024), rising from ₹679.40 to ₹684.15. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.64% from a day low at ₹679.10 to a day high of ₹690.25. The price has risen in 7 of the last 10 days and is up by 3.5% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 thousand more shares were traded than the day before. In total, 6 thousand shares were bought and sold for approximately ₹4.21 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹686.36 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -7.01% during the next 3 months and, with a 90% probability hold a price between ₹554.50 and ₹638.22 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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PSPPROJECT.BO Signals & Forecast
The PSP Projects 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 ₹665.61 and ₹657.40. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 11.88%. 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.
Support, Risk & Stop-loss for PSP Projects Limited stock
PSP Projects Limited finds support from accumulated volume at ₹679.30 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹11.15 between high and low, or 1.64%. For the last week, the stock has had daily average volatility of 2.57%.
Our recommended stop-loss: ₹657.75 (-3.86%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (PSPPROJECT.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect PSP Projects Limited to open at ₹684.50, and during the day (based on 14 day Average True Range), to move between ₹663.27 and ₹705.03, which gives a possible trading interval of +/-₹20.88 (+/-3.05%) up or down from last closing price. If PSP Projects Limited takes out the full calculated possible swing range there will be an estimated 6.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹679.30 (0.71%) than the resistance at ₹691.25 (1.04%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is PSP Projects Limited stock A Buy?
PSP Projects Limited 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.
Current score: 0.515 Hold/Accumulate Unchanged
Predicted Opening Price for PSP Projects Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹684.50 ( 0.0512%) | ₹684.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PSPPROJECT.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 695.65 | 1.68% |
| R2 | 691.39 | 1.06% |
| R1 | 688.76 | 0.674% |
| Price | 684.15 | |
| S1 | 680.24 | -0.571% |
| S2 | 677.61 | -0.96% |
| S3 | 673.35 | -1.58% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 722.55 | 5.61% |
| R2 | 698.20 | 2.05% |
| R1 | 691.25 | 1.04% |
| Price | 684.15 | |
| S1 | 679.30 | -0.709% |
| S2 | 673.15 | -1.61% |
| S3 | 667.90 | -2.38% |
PSPPROJECT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 01, 2023 | Sep 01, 2023 | Oct 09, 2023 | ₹2.50 | 0.323% |
| 2 | Sep 19, 2022 | Sep 19, 2022 | Mar 28, 2020 | ₹5.00 | 1.54% |
| 3 | Sep 14, 2017 | Sep 14, 2017 | Oct 27, 2017 | ₹2.50 | 0.599% |
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