Ram Ratna Wires Limited Stock Forecast
Red day on Friday for Ram Ratna Wires Limited
(Updated on Jun 14, 2024)
The Ram Ratna Wires Limited stock price fell by -1.66% on the last day (Friday, 14th Jun 2024) from ₹390.60 to ₹384.10. During the last trading day the stock fluctuated 3.12% from a day low at ₹382.00 to a day high of ₹393.90. The price has risen in 8 of the last 10 days and is up by 8.37% over the past 2 weeks. Volume has increased on the last day by 2 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, 7 thousand shares were bought and sold for approximately ₹2.62 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 41.57% during the next 3 months and, with a 90% probability hold a price between ₹498.06 and ₹657.21 at the end of this 3-month period.
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RAMRAT.BO Signals & Forecast
The Ram Ratna Wires Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹375.69 and ₹368.44. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -2.44%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Ram Ratna Wires Limited stock
Ram Ratna Wires Limited finds support from accumulated volume at ₹372.95 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 ₹11.90 between high and low, or 3.12%. For the last week, the stock has had daily average volatility of 2.99%.
Our recommended stop-loss: ₹366.64 (-4.55%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 55 days ago.)
Trading Expectations (RAMRAT.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Ram Ratna Wires Limited to open at ₹386.67, and during the day (based on 14 day Average True Range), to move between ₹367.28 and ₹400.92, which gives a possible trading interval of +/-₹16.82 (+/-4.38%) up or down from last closing price. If Ram Ratna Wires Limited takes out the full calculated possible swing range there will be an estimated 8.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹384.25 (0.04%) than the support at ₹372.95 (2.90%), 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 Ram Ratna Wires Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Ram Ratna Wires Limited stock to perform well in the short-term.
Current score: 3.231 Buy Candidate Unchanged
Predicted Opening Price for Ram Ratna Wires Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹386.67 ( 0.668%) | ₹384.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RAMRAT.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 398.57 | 3.77% |
| R2 | 394.02 | 2.58% |
| R1 | 391.21 | 1.85% |
| Price | 384.10 | |
| S1 | 382.12 | -0.515% |
| S2 | 379.31 | -1.25% |
| S3 | 374.77 | -2.43% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 393.70 | 2.50% |
| R2 | 384.60 | 0.130% |
| R1 | 384.25 | 0.0391% |
| Price | 384.10 | |
| S1 | 372.95 | -2.90% |
| S2 | 340.00 | -11.48% |
| S3 | 329.65 | -14.18% |
RAMRAT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 16, 2024 | Aug 16, 2024 | Sep 27, 2024 | ₹2.50 | 0.650% |
| 2 | Nov 17, 2023 | Nov 17, 2023 | Dec 07, 2023 | ₹2.50 | 0.84% |
| 3 | Sep 01, 2023 | Sep 01, 2023 | Oct 10, 2023 | ₹2.50 | 0.95% |
| 4 | Aug 25, 2022 | Aug 25, 2022 | Oct 21, 2022 | ₹5.00 | 2.44% |
| 5 | Sep 07, 2017 | Sep 07, 2017 | Oct 16, 2017 | ₹1.25 | 1.54% |
FAQ
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