RattanIndia Power Limited Stock Forecast
Red day on Thursday for RattanIndia Power Limited
(Updated on Apr 25, 2024)
The RattanIndia Power Limited stock price fell by -0.793% on the last day (Thursday, 25th Apr 2024) from ₹8.83 to ₹8.76. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.30% from a day low at ₹8.70 to a day high of ₹8.90. The price has fallen in 8 of the last 10 days and is down by -3.74% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -448 thousand shares and in total, 11 million shares were bought and sold for approximately ₹95.60 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -23.09% during the next 3 months and, with a 90% probability hold a price between ₹5.34 and ₹7.39 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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RTNPOWER.BO Signals & Forecast
There are few to no technical positive signals at the moment. The RattanIndia Power 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 ₹8.79 and ₹8.91. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -8.46%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for RattanIndia Power Limited stock
RattanIndia Power Limited finds support from accumulated volume at ₹8.65 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 ₹0.200 between high and low, or 2.30%. For the last week, the stock has had daily average volatility of 3.36%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RTNPOWER.BO) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect RattanIndia Power Limited to open at ₹8.79, and during the day (based on 14 day Average True Range), to move between ₹8.34 and ₹9.18, which gives a possible trading interval of +/-₹0.417 (+/-4.76%) up or down from last closing price. If RattanIndia Power Limited takes out the full calculated possible swing range there will be an estimated 9.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹8.83 (0.80%) than the support at ₹8.65 (1.26%), 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.
Earnings coming up
RattanIndia Power Limited will release earnings BMO on Thursday, May 02, 2024. We will update the financials statements for RattanIndia Power Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.56% in the first trading day after earnings release.
Is RattanIndia Power Limited stock A Buy?
RattanIndia Power Limited holds several negative signals and is within a very 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: -3.183 Sell Candidate Unchanged
Predicted Opening Price for RattanIndia Power Limited of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| ₹8.79 ( 0.304%) | ₹8.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RTNPOWER.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.99 | 2.59 % | |
| R2 | 8.91 | 1.72 % | ||
| R1 | 8.86 | 1.18 % | ||
| Current price: | 8.76 | |||
| Support | S1 | 8.71 | -0.568 % | |
| S2 | 8.66 | -1.11 % | ||
| S3 | 8.59 | -1.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.74 | 22.60 % | |
| R2 | 10.46 | 19.41 % | ||
| R1 | 8.83 | 0.799 % | ||
| Current price | 8.76 | |||
| Support | S1 | 8.65 | -1.26% | |
| S2 | 8.52 | -2.74% | ||
| S3 | 8.38 | -4.34% |
FAQ
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