Remsons Industries Limited Stock Forecast

Remsons Industries Limited stock price ended at ₹961.60 on Friday, after losing 0.492%.
(Updated on May 17, 2024)

REMSONSIND.NS Signals & Forecast

The Remsons Industries Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹950.59 and ₹955.73. A breakdown below any of these levels will issue sell signals. 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 -2.50%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Remsons Industries Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹885.10 and ₹875.70. 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, Remsons Industries Limited finds support just below today's level at ₹885.10. If this is broken, then the next support from accumulated volume will be at ₹875.70 and ₹864.20.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹18.70 (1.97%) between high and low. For the last week, the stock has had daily average volatility of 3.34%.

Our recommended stop-loss: ₹927.46 (-3.55%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 11 days ago.)

Trading Expectations (REMSONSIND.NS) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Remsons Industries Limited to open at ₹960.23, and during the day (based on 14 day Average True Range), to move between ₹925.56 and ₹997.64, which gives a possible trading interval of +/-₹36.04 (+/-3.75%) up or down from last closing price. If Remsons Industries Limited takes out the full calculated possible swing range there will be an estimated 7.50% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹969.90 (0.86%) than the support at ₹885.10 (7.96%), 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 Remsons Industries Limited stock A Buy?

Remsons Industries Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.300 Hold/Accumulate Unchanged

Predicted Opening Price for Remsons Industries Limited of Monday, May 20, 2024

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