Raghuvansh Agrofarms Limited Stock Forecast
Raghuvansh Agrofarms Limited stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 26, 2024)
No changes to the price of Raghuvansh Agrofarms Limited stock on the last trading day (Friday, 26th Apr 2024). During the last trading day the stock fluctuated 0% from a day low at ₹199.25 to a day high of ₹199.25. The price has been going up and down for this period, and there has been a -0.87% loss for the last 2 weeks.
The stock lies the upper part of a very 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 ₹220.49 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 -64.81% during the next 3 months and, with a 90% probability hold a price between ₹24.28 and ₹77.60 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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RAFL.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 2.18%. 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 gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. The Raghuvansh Agrofarms Limited 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 ₹224.10. On a fall, the stock will find some support from the short-term average at ₹199.16. 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.
Support, Risk & Stop-loss for Raghuvansh Agrofarms Limited stock
Raghuvansh Agrofarms Limited finds support from accumulated volume at ₹199.20 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 with good liquidity the risk is considered very low in this stock. 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 0.0101%.
Raghuvansh Agrofarms Limited is oversold on RSI14 (9). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: ₹185.83 (-6.73%) (This stock has low daily movements and this gives low risk. Low RSI14 is 9 which reduces the risk some. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (RAFL.BO) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Raghuvansh Agrofarms Limited to open at ₹199.25, and during the day (based on 14 day Average True Range), to move between ₹195.57 and ₹202.93, which gives a possible trading interval of +/-₹3.68 (+/-1.85%) up or down from last closing price. If Raghuvansh Agrofarms Limited takes out the full calculated possible swing range there will be an estimated 3.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹199.20 (0.03%) than the resistance at ₹201.00 (0.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Raghuvansh Agrofarms Limited stock A Buy?
Raghuvansh Agrofarms 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Raghuvansh Agrofarms Limited of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
₹199.25 ( 0%) | ₹199.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RAFL.BO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 199.25 | . | |
R2 | 199.25 | . | ||
R1 | 199.25 | . | ||
Current price: | 199.25 | |||
Support | S1 | 199.25 | . | |
S2 | 199.25 | . | ||
S3 | 199.25 | . |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 201.50 | 1.13 % | |
R2 | 201.45 | 1.10 % | ||
R1 | 201.00 | 0.88 % | ||
Current price | 199.25 | |||
Support | S1 | 199.20 | -0.0251% | |
S2 | 199.00 | -0.125% | ||
S3 | 195.00 | -2.13% |
FAQ
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