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Prakash Woollen & Synthetic Mills Ltd Stock Forecast

₹35.53
+0.210 (+0.595%)
At Close: Jun 14, 2024
RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of PWASML.BO
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Prakash Woollen & Synthetic Mills Ltd stock upgraded to Hold/Accumulate.
(Updated on Jun 14, 2024)

Hold candidate since Jun 14, 2024 PDF

The Prakash Woollen & Synthetic Mills Ltd stock price gained 0.595% on the last trading day (Friday, 14th Jun 2024), rising from ₹35.32 to ₹35.53. During the last trading day the stock fluctuated 5.63% from a day low at ₹35.00 to a day high of ₹36.97. The price has fallen in 6 of the last 10 days but is still up by 0.03% over the past 2 weeks. Volume fell on the last day by -992 shares and in total, 9 thousand shares were bought and sold for approximately ₹335.58 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Prakash Woollen & Synthetic Mills Ltd stock with a 90% probability to be traded between ₹33.74 and ₹37.69 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

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PWASML.BO Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 3.44%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Prakash Woollen & Synthetic Mills Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹35.99. On a fall, the stock will find some support from the short-term average at ₹35.15. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

Support, Risk & Stop-loss for Prakash Woollen & Synthetic Mills Ltd stock

Prakash Woollen & Synthetic Mills Ltd finds support from accumulated volume at ₹35.18 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved ₹1.97 between high and low, or 5.63%. For the last week the stock has had daily average volatility of 5.62%

Our recommended stop-loss: ₹33.86 (-4.69%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)

Trading Expectations (PWASML.BO) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Prakash Woollen & Synthetic Mills Limited to open at ₹35.83, and during the day (based on 14 day Average True Range), to move between ₹33.01 and ₹38.05, which gives a possible trading interval of +/-₹2.52 (+/-7.10%) up or down from last closing price. If Prakash Woollen & Synthetic Mills Limited takes out the full calculated possible swing range there will be an estimated 14.19% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹35.18 (0.99%) than the resistance at ₹36.00 (1.32%), 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 Woollen & Synthetic Mills Limited stock A Buy?

Prakash Woollen & Synthetic Mills 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.750 Hold/Accumulate Upgraded

Predicted Opening Price for Prakash Woollen & Synthetic Mills Limited of Tuesday, June 18, 2024

Fair opening price June 18, 2024 Current price
₹35.83 ( 0.85%) ₹35.53

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

Trading levels for PWASML.BO

Fibonacci Support & Resistance Levels

Level Price
R3 37.80 6.40%
R2 37.05 4.28%
R1 36.59 2.97%
Price 35.53
S1 35.08 -1.26%
S2 34.62 -2.57%
S3 33.86 -4.69%

Accumulated Volume Support & Resistance Levels

Level Price
R3 38.62 8.70%
R2 38.00 6.95%
R1 36.00 1.32%
Price 35.53
S1 35.18 -0.99%
S2 34.95 -1.63%
S3 34.81 -2.03%

FAQ

What is the symbol for Prakash Woollen & Synthetic Mills Limited Stock and on which exchange is it traded?
The symbol for Prakash Woollen & Synthetic Mills Limited is PWASML.BO and it is traded on the XBOM (Bombay Stock Exchange).

Should I buy or sell Prakash Woollen & Synthetic Mills Limited Stock?
Prakash Woollen & Synthetic Mills 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

How to buy Prakash Woollen & Synthetic Mills Limited Stock?
Prakash Woollen & Synthetic Mills Limited Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Prakash Woollen & Synthetic Mills Limited Stock.

What's the current price of Prakash Woollen & Synthetic Mills Limited Stock?
As of the end of day on the Jun 14, 2024, the price of an Prakash Woollen & Synthetic Mills Limited (PWASML.BO) share was ₹35.53.

What is the 52-week high and low for Prakash Woollen & Synthetic Mills Limited Stock?
The 52-week high for Prakash Woollen & Synthetic Mills Limited Stock is ₹43.80 and the 52-week low is ₹22.10.

What is the market capitalization of Prakash Woollen & Synthetic Mills Limited Stock?
As of the Jun 14, 2024, the market capitalization of Prakash Woollen & Synthetic Mills Limited is 364.531M.
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