Rana Sugars Limited Stock Forecast

Green day on Friday for Rana Sugars Limited
(Updated on May 31, 2024)

RANASUG.NS Signals & Forecast

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 Rana Sugars 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 ₹21.19 and ₹21.92. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -8.70%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Rana Sugars Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹19.95 and ₹19.70. 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, Rana Sugars Limited finds support just below today's level at ₹19.95. If this is broken, then the next support from accumulated volume will be at ₹19.70 and ₹19.40.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹0.400 between high and low, or 1.94%. For the last week the stock has had daily average volatility of 2.50%.

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 3rd

For the upcoming trading day on Monday, 3rd we expect Rana Sugars Limited to open at ₹20.90, and during the day (based on 14 day Average True Range), to move between ₹20.46 and ₹21.54, which gives a possible trading interval of +/-₹0.544 (+/-2.59%) up or down from last closing price. If Rana Sugars Limited takes out the full calculated possible swing range there will be an estimated 5.18% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹19.95 (5.00%) than the resistance at ₹22.70 (8.10%), 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 is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -2.250 Sell Candidate Unchanged

Predicted Opening Price for Rana Sugars Limited of Monday, June 3, 2024

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