Sagar Cements Limited Stock Forecast
Sagar Cements Limited stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The Sagar Cements Limited stock price fell by -0.201% on the last day (Thursday, 25th Apr 2024) from ₹223.50 to ₹223.05. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.40% from a day low at ₹220.75 to a day high of ₹226.05. The price has fallen in 8 of the last 10 days but is still up by 0.81% over the past 2 weeks. Volume has increased on the last day by 2 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 7 thousand shares were bought and sold for approximately ₹1.47 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 ₹224.95 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 -20.20% during the next 3 months and, with a 90% probability hold a price between ₹149.71 and ₹179.51 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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SAGCEM.BO Signals & Forecast
The Sagar Cements 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 ₹219.39 and ₹221.78. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 9.02%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Sagar Cements Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Sagar Cements Limited stock
Sagar Cements Limited finds support from accumulated volume at ₹219.65 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 ₹5.30 between high and low, or 2.40%. For the last week, the stock has had daily average volatility of 4.71%.
Our recommended stop-loss: ₹213.06 (-4.48%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (SAGCEM.BO) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Sagar Cements Limited to open at ₹223.28, and during the day (based on 14 day Average True Range), to move between ₹214.38 and ₹231.72, which gives a possible trading interval of +/-₹8.67 (+/-3.89%) up or down from last closing price. If Sagar Cements Limited takes out the full calculated possible swing range there will be an estimated 7.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹219.65 (1.52%) than the resistance at ₹262.65 (17.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sagar Cements Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.201 Buy Candidate Upgraded
Predicted Opening Price for Sagar Cements Limited of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| ₹223.28 ( 0.105%) | ₹223.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SAGCEM.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 228.58 | 2.48 % | |
| R2 | 226.56 | 1.57 % | ||
| R1 | 225.31 | 1.01 % | ||
| Current price: | 223.05 | |||
| Support | S1 | 221.26 | -0.80 % | |
| S2 | 220.01 | -1.36 % | ||
| S3 | 217.98 | -2.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 267.75 | 20.04 % | |
| R2 | 263.65 | 18.20 % | ||
| R1 | 262.65 | 17.75 % | ||
| Current price | 223.05 | |||
| Support | S1 | 219.65 | -1.52% | |
| S2 | 217.00 | -2.71% | ||
| S3 | 204.60 | -8.27% |
FAQ
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