Rama Steel Tubes Limited Stock Forecast
Stronger technical forecast for Rama Steel Tubes Limited stock price after Friday trading.
(Updated on Jun 14, 2024)
The Rama Steel Tubes Limited stock price fell by -0.411% on the last day (Friday, 14th Jun 2024) from ₹12.16 to ₹12.11. During the last trading day the stock fluctuated 2.07% from a day low at ₹12.05 to a day high of ₹12.30. The price has fallen in 5 of the last 10 days but is still up by 1.76% over the past 2 weeks. Volume has increased on the last day by 562 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 5 million shares were bought and sold for approximately ₹54.60 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹9.99 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -17.34% during the next 3 months and, with a 90% probability hold a price between ₹8.26 and ₹26.21 at the end of this 3-month period.
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RAMASTEEL.NS Signals & Forecast
There are mixed signals in the stock today. The Rama Steel Tubes 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 ₹12.34. On a fall, the stock will find some support from the short-term average at ₹11.97. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 11.61%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Rama Steel Tubes Limited stock
Rama Steel Tubes Limited finds support from accumulated volume at ₹12.00 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 ₹0.250 between high and low, or 2.07%. For the last week, the stock has had daily average volatility of 4.26%.
Our recommended stop-loss: ₹11.74 (-3.04%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 37 days ago.)
Trading Expectations (RAMASTEEL.NS) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Rama Steel Tubes Limited to open at ₹12.15, and during the day (based on 14 day Average True Range), to move between ₹11.50 and ₹12.72, which gives a possible trading interval of +/-₹0.612 (+/-5.06%) up or down from last closing price. If Rama Steel Tubes Limited takes out the full calculated possible swing range there will be an estimated 10.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹12.00 (0.91%) than the resistance at ₹12.80 (5.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Rama Steel Tubes Limited stock A Buy?
Rama Steel Tubes 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: -0.418 Hold/Accumulate Upgraded
Predicted Opening Price for Rama Steel Tubes Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹12.15 ( 0.358%) | ₹12.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RAMASTEEL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.40 | 2.42% |
| R2 | 12.31 | 1.63% |
| R1 | 12.25 | 1.15% |
| Price | 12.11 | |
| S1 | 12.06 | -0.431% |
| S2 | 12.00 | -0.92% |
| S3 | 11.90 | -1.71% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.15 | 16.85% |
| R2 | 13.65 | 12.72% |
| R1 | 12.80 | 5.70% |
| Price | 12.11 | |
| S1 | 12.00 | -0.91% |
| S2 | 11.85 | -2.15% |
| S3 | 11.05 | -8.75% |
RAMASTEEL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 24, 2022 | Feb 24, 2022 | Feb 24, 2022 | ₹0.0200 | 0.498% |
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