Ruchira Papers Limited Stock Forecast
Stronger technical forecast for Ruchira Papers Limited stock price after Friday trading.
(Updated on Jun 14, 2024)
The Ruchira Papers Limited stock price gained 4.68% on the last trading day (Friday, 14th Jun 2024), rising from ₹128.30 to ₹134.30. It has now gained 8 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 9.06% from a day low at ₹127.00 to a day high of ₹138.50. The price has risen in 8 of the last 10 days and is up by 7.7% 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, 91 thousand more shares were traded than the day before. In total, 97 thousand shares were bought and sold for approximately ₹13.01 million.
The stock lies in the middle of a wide and weak 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 7.53% during the next 3 months and, with a 90% probability hold a price between ₹128.37 and ₹148.78 at the end of this 3-month period.
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RUCHIRA.BO Signals & Forecast
Mostly positive signals in the chart today. The Ruchira Papers 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 ₹127.43 and ₹126.14. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 13.77%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Ruchira Papers Limited stock
Ruchira Papers Limited finds support from accumulated volume at ₹133.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ₹11.50 between high and low, or 9.06%. For the last week the stock has had daily average volatility of 4.19%.
Since the Ruchira Papers Limited has been rising for 8 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: ₹129.25 (-3.76%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (RUCHIRA.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Ruchira Papers Limited to open at ₹133.27, and during the day (based on 14 day Average True Range), to move between ₹129.48 and ₹139.12, which gives a possible trading interval of +/-₹4.82 (+/-3.59%) up or down from last closing price. If Ruchira Papers Limited takes out the full calculated possible swing range there will be an estimated 7.18% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹133.35, some ₹0.95 (0.71%) from the current price of ₹134.30, our system finds the risk reward attractive.
Is Ruchira Papers Limited stock A Buy?
Ruchira Papers Limited holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 5.468 Strong Buy Candidate Upgraded
Predicted Opening Price for Ruchira Papers Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹133.27 ( 0.769%) | ₹134.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RUCHIRA.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 144.77 | 7.79% |
| R2 | 140.37 | 4.52% |
| R1 | 137.66 | 2.50% |
| Price | 134.30 | |
| S1 | 128.87 | -4.04% |
| S2 | 126.16 | -6.06% |
| S3 | 121.77 | -9.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 134.30 | |
| S1 | 133.35 | -0.707% |
| S2 | 127.35 | -5.17% |
| S3 | 124.70 | -7.15% |
RUCHIRA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 22, 2023 | Sep 22, 2023 | Oct 29, 2023 | ₹5.00 | 3.68% |
| 2 | Sep 08, 2022 | Sep 08, 2022 | Oct 29, 2022 | ₹1.82 | 1.45% |
| 3 | Sep 13, 2017 | Sep 13, 2017 | Oct 21, 2017 | ₹2.25 | 1.43% |
| 4 | Sep 22, 2016 | Sep 22, 2016 | Sep 22, 2016 | ₹1.50 | 1.99% |
| 5 | Sep 16, 2015 | Sep 16, 2015 | Sep 16, 2015 | ₹1.30 | 3.71% |
FAQ
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