Quasar India Limited Stock Forecast
Quasar India Limited stock price up more than 6.80% on Tuesday
(Updated on Jun 25, 2024)
The Quasar India Limited stock price gained 6.80% on the last trading day (Tuesday, 25th Jun 2024), rising from ₹12.95 to ₹13.83. During the last trading day the stock fluctuated 6.63% from a day low at ₹13.13 to a day high of ₹14.00. The price has risen in 6 of the last 10 days and is up by 13.55% over the past 2 weeks. Volume fell on the last day by -4 thousand shares and in total, 37 thousand shares were bought and sold for approximately ₹509.51 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 stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is ₹13.54, a level that may pose a second chance to hit a runner. According to fan-theory ₹15.38 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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QUASAR.BO Signals & Forecast
The Quasar India Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹12.68 and ₹12.82. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 13.64%. 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. 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 Quasar India Limited stock
Quasar India Limited finds support from accumulated volume at ₹13.43 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 controlled movements and therefore the general risk is considered 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 ₹0.87 between high and low, or 6.63%. For the last week the stock has had daily average volatility of 6.54%.
Our recommended stop-loss: ₹13.39 (-3.18%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 51 days ago.)
Trading Expectations (QUASAR.BO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Quasar India Limited to open at ₹13.65, and during the day (based on 14 day Average True Range), to move between ₹13.02 and ₹14.64, which gives a possible trading interval of +/-₹0.81 (+/-5.89%) up or down from last closing price. If Quasar India Limited takes out the full calculated possible swing range there will be an estimated 11.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹13.85 (0.14%) than the support at ₹13.43 (2.89%), 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 Quasar India Limited stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.
Current score: 3.507 Buy Candidate Unchanged
Predicted Opening Price for Quasar India Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹13.65 ( 1.28%) | ₹13.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QUASAR.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.52 | 5.01% |
| R2 | 14.19 | 2.61% |
| R1 | 13.99 | 1.13% |
| Price | 13.83 | |
| S1 | 13.32 | -3.68% |
| S2 | 13.12 | -5.17% |
| S3 | 12.78 | -7.57% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.35 | 3.76% |
| R2 | 14.31 | 3.47% |
| R1 | 13.85 | 0.145% |
| Price | 13.83 | |
| S1 | 13.43 | -2.89% |
| S2 | 13.36 | -3.40% |
| S3 | 12.46 | -9.91% |
FAQ
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