Rana Sugars Limited Stock Forecast
Rana Sugars Limited stock price ended at ₹25.57 on Tuesday, after gaining 0.87%.
(Updated on Jul 02, 2024)
The Rana Sugars Limited stock price gained 0.87% on the last trading day (Tuesday, 2nd Jul 2024), rising from ₹25.35 to ₹25.57. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.52% from a day low at ₹24.82 to a day high of ₹26.19. The price has risen in 5 of the last 10 days and is up by 2.24% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 697 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately ₹46.51 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 10.65% during the next 3 months and, with a 90% probability hold a price between ₹22.95 and ₹29.65 at the end of this 3-month period.
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RANASUG.NS Signals & Forecast
The Rana Sugars 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 ₹25.23 and ₹23.06. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, June 21, 2024, and so far it has fallen -3.55%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Rana Sugars Limited stock
Rana Sugars Limited finds support from accumulated volume at ₹24.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹1.37 between high and low, or 5.52%. For the last week, the stock has had daily average volatility of 3.79%.
Our recommended stop-loss: ₹24.38 (-4.65%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (RANASUG.NS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Rana Sugars Limited to open at ₹25.53, and during the day (based on 14 day Average True Range), to move between ₹24.46 and ₹26.68, which gives a possible trading interval of +/-₹1.11 (+/-4.33%) up or down from last closing price. If Rana Sugars Limited takes out the full calculated possible swing range there will be an estimated 8.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹26.38 (3.17%) than the support at ₹24.50 (4.18%), 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 Rana Sugars 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 Rana Sugars Limited stock to perform well in the short-term.
Current score: 2.601 Buy Candidate Unchanged
Predicted Opening Price for Rana Sugars Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| ₹25.53 ( 0.169%) | ₹25.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RANASUG.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 26.90 | 5.19% |
| R2 | 26.37 | 3.14% |
| R1 | 26.05 | 1.88% |
| Price | 25.57 | |
| S1 | 25.00 | -2.22% |
| S2 | 24.68 | -3.48% |
| S3 | 24.16 | -5.53% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 26.51 | 3.68% |
| R2 | 26.47 | 3.52% |
| R1 | 26.38 | 3.17% |
| Price | 25.57 | |
| S1 | 24.50 | -4.18% |
| S2 | 23.91 | -6.49% |
| S3 | 22.80 | -10.83% |
RANASUG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 08, 2005 | Oct 31, 2005 | Nov 18, 2005 | ₹1.00 | 3.73% |
FAQ
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