Sakthi Sugars Limited Stock Forecast
Green day on Monday for Sakthi Sugars Limited
(Updated on Apr 29, 2024)
The Sakthi Sugars Limited stock price gained 1.99% on the last trading day (Monday, 29th Apr 2024), rising from ₹37.65 to ₹38.40. During the last trading day the stock fluctuated 8.40% from a day low at ₹37.50 to a day high of ₹40.65. The price has risen in 8 of the last 10 days and is up by 7.87% 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, 2 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately ₹88.64 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Sakthi Sugars Limited stock with a 90% probability to be traded between ₹29.27 and ₹43.89 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SAKHTISUG.NS Signals & Forecast
The Sakthi Sugars 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 ₹37.37 and ₹34.03. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -0.260%. 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).
Support, Risk & Stop-loss for Sakthi Sugars Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹33.20 and ₹31.30. 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, Sakthi Sugars Limited finds support just below today's level at ₹33.20. If this is broken, then the next support from accumulated volume will be at ₹31.30 and ₹30.00.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹3.15 between high and low, or 8.40%. For the last week, the stock has had daily average volatility of 4.88%.
Our recommended stop-loss: ₹36.90 (-3.91%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (SAKHTISUG.NS) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Sakthi Sugars Limited to open at ₹38.85, and during the day (based on 14 day Average True Range), to move between ₹36.41 and ₹40.39, which gives a possible trading interval of +/-₹1.99 (+/-5.19%) up or down from last closing price. If Sakthi Sugars Limited takes out the full calculated possible swing range there will be an estimated 10.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹39.80 (3.65%) than the support at ₹33.20 (13.54%), 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 Sakthi Sugars Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Sakthi Sugars Limited stock to perform well in the short-term period.
Current score: 2.312 Buy Candidate Unchanged
Predicted Opening Price for Sakthi Sugars Limited of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| ₹38.85 ( 1.17%) | ₹38.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SAKHTISUG.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 42.00 | 9.38 % | |
| R2 | 40.80 | 6.24 % | ||
| R1 | 40.05 | 4.31 % | ||
| Current price: | 38.40 | |||
| Support | S1 | 37.65 | -1.96 % | |
| S2 | 36.90 | -3.90 % | ||
| S3 | 35.70 | -7.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.35 | 15.49 % | |
| R2 | 42.35 | 10.29 % | ||
| R1 | 39.80 | 3.65 % | ||
| Current price | 38.40 | |||
| Support | S1 | 33.20 | -13.54% | |
| S2 | 31.30 | -18.49% | ||
| S3 | 30.00 | -21.88% |
SAKHTISUG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 27, 2007 | Dec 06, 2007 | Jan 01, 2008 | ₹1.50 | 1.64% |
| 2 | Oct 25, 2006 | Dec 06, 2006 | Dec 28, 2006 | ₹1.50 | 1.47% |
FAQ
Click here for our free guide on how to buy Sakthi Sugars Limited Stock.
