Rana Sugars Limited Stock Forecast
Green day on Friday for Rana Sugars Limited stock after gaining 1.17%
(Updated on May 17, 2024)
The Rana Sugars Limited stock price gained 1.17% on the last trading day (Friday, 17th May 2024), rising from ₹21.35 to ₹21.60. During the last trading day the stock fluctuated 2.35% from a day low at ₹21.30 to a day high of ₹21.80. The price has fallen in 5 of the last 10 days and is down by -4.21% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 97 thousand more shares were traded than the day before. In total, 355 thousand shares were bought and sold for approximately ₹7.67 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹22.46 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -9.30% during the next 3 months and, with a 90% probability hold a price between ₹16.41 and ₹20.37 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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RANASUG.NS Signals & Forecast
There are mixed signals in the stock today. The Rana Sugars 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 ₹22.17. On a fall, the stock will find some support from the short-term average at ₹21.34. 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. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -6.09%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Rana Sugars Limited stock
Rana Sugars Limited finds support from accumulated volume at ₹21.10 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 ₹0.500 between high and low, or 2.35%. For the last week, the stock has had daily average volatility of 1.94%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RANASUG.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Rana Sugars Limited to open at ₹21.57, and during the day (based on 14 day Average True Range), to move between ₹20.93 and ₹22.27, which gives a possible trading interval of +/-₹0.668 (+/-3.09%) up or down from last closing price. If Rana Sugars Limited takes out the full calculated possible swing range there will be an estimated 6.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹21.10 (2.31%) than the resistance at ₹22.80 (5.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Rana Sugars Limited stock A Buy?
Rana Sugars Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.079 Sell Candidate Unchanged
Predicted Opening Price for Rana Sugars Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹21.57 ( 0.154%) | ₹21.60 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 22.07 | 2.16 % | |
| R2 | 21.88 | 1.28 % | ||
| R1 | 21.76 | 0.730 % | ||
| Current price: | 21.60 | |||
| Support | S1 | 21.38 | -1.04 % | |
| S2 | 21.26 | -1.58 % | ||
| S3 | 21.07 | -2.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.20 | 21.30 % | |
| R2 | 26.10 | 20.83 % | ||
| R1 | 22.80 | 5.56 % | ||
| Current price | 21.60 | |||
| Support | S1 | 21.10 | -2.31% | |
| S2 | 19.70 | -8.80% | ||
| S3 | 19.40 | -10.19% |
RANASUG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 08, 2005 | Oct 31, 2005 | Nov 18, 2005 | ₹1.00 | 3.73% |
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