The Ramco Cements Limited Stock Forecast

Stronger technical forecast for The Ramco Cements Limited stock price after Friday trading.
(Updated on May 17, 2024)

RAMCOCEM.NS Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 3.81%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The The Ramco Cements 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 ₹801.60. On a fall, the stock will find some support from the short-term average at ₹764.39. 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 The Ramco Cements Limited stock

The Ramco Cements Limited finds support from accumulated volume at ₹771.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹11.25 (1.47%) between high and low. For the last week, the stock has had daily average volatility of 1.68%.

Our recommended stop-loss: ₹737.36 (-5.11%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (RAMCOCEM.NS) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect The Ramco Cements Limited to open at ₹774.62, and during the day (based on 14 day Average True Range), to move between ₹760.72 and ₹793.48, which gives a possible trading interval of +/-₹16.38 (+/-2.11%) up or down from last closing price. If The Ramco Cements Limited takes out the full calculated possible swing range there will be an estimated 4.22% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹771.35 (0.74%) than the resistance at ₹806.45 (3.78%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is The Ramco Cements Limited stock A Buy?

The Ramco Cements 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: -0.163 Hold/Accumulate Upgraded

Predicted Opening Price for The Ramco Cements Limited of Monday, May 20, 2024

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