Ramco Systems Limited Stock Forecast
Ramco Systems Limited stock price up 2.56% on Friday
(Updated on Jun 28, 2024)
The Ramco Systems Limited stock price gained 2.56% on the last trading day (Friday, 28th Jun 2024), rising from ₹318.15 to ₹326.30. During the last trading day the stock fluctuated 5.21% from a day low at ₹317.00 to a day high of ₹333.50. The price has fallen in 6 of the last 10 days and is down by -1.54% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 14 thousand more shares were traded than the day before. In total, 31 thousand shares were bought and sold for approximately ₹10.18 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.42% during the next 3 months and, with a 90% probability hold a price between ₹273.89 and ₹382.39 at the end of this 3-month period.
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RAMCOSYS.NS Signals & Forecast
There are mixed signals in the stock today. The Ramco Systems Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹329.39 and ₹337.49. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Wednesday, June 05, 2024, and so far it has risen 10.33%. 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.
Support, Risk & Stop-loss for Ramco Systems Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹304.80 and ₹296.40. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Ramco Systems Limited finds support just below today's level at ₹304.80. If this is broken, then the next support from accumulated volume will be at ₹296.40 and ₹289.00.
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 ₹16.50 between high and low, or 5.21%. For the last week, the stock has had daily average volatility of 3.83%.
Our recommended stop-loss: ₹313.51 (-3.92%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 49 days ago.)
Trading Expectations (RAMCOSYS.NS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Ramco Systems Limited to open at ₹325.60, and during the day (based on 14 day Average True Range), to move between ₹312.03 and ₹340.57, which gives a possible trading interval of +/-₹14.27 (+/-4.37%) up or down from last closing price. If Ramco Systems Limited takes out the full calculated possible swing range there will be an estimated 8.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹340.90 (4.47%) than the support at ₹304.80 (6.59%), 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 Ramco Systems Limited stock A Buy?
Ramco Systems 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.
Current score: 0.013 Hold/Accumulate Unchanged
Predicted Opening Price for Ramco Systems Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹325.60 ( 0.215%) | ₹326.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RAMCOSYS.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 342.10 | 4.84% |
| R2 | 335.80 | 2.91% |
| R1 | 331.90 | 1.72% |
| Price | 326.30 | |
| S1 | 319.30 | -2.15% |
| S2 | 315.40 | -3.34% |
| S3 | 309.10 | -5.27% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 406.35 | 24.53% |
| R2 | 396.35 | 21.47% |
| R1 | 340.90 | 4.47% |
| Price | 326.30 | |
| S1 | 304.80 | -6.59% |
| S2 | 296.40 | -9.16% |
| S3 | 289.00 | -11.43% |
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