Sakthi Sugars Limited Stock Forecast

Sakthi Sugars Limited stock upgraded from Sell Candidate to Hold/Accumulate after Monday trading session.
(Updated on May 20, 2024)

SAKHTISUG.NS Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, May 16, 2024, and so far it has risen 1.33%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Sakthi Sugars Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹35.65. On a fall, the stock will find some support from the short-term average at ₹34.03. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Sakthi Sugars Limited stock

Sakthi Sugars Limited finds support from accumulated volume at ₹34.10 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved ₹0 between high and low, or 0%. For the last week the stock has had daily average volatility of 2.58%

Sakthi Sugars Limited is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: ₹31.94 (-6.60%) (This stock has low daily movements and this gives low risk. Low RSI14 is 16 which reduces the risk some. There is a buy signal from a pivot bottom found 17 days ago.)

Trading Expectations (SAKHTISUG.NS) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Sakthi Sugars Limited to open at ₹34.20, and during the day (based on 14 day Average True Range), to move between ₹32.80 and ₹35.60, which gives a possible trading interval of +/-₹1.40 (+/-4.08%) up or down from last closing price. If Sakthi Sugars Limited takes out the full calculated possible swing range there will be an estimated 8.16% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹34.10 (0.29%) than the resistance at ₹37.40 (9.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Sakthi Sugars Limited stock A Buy?

Sakthi Sugars Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.543 Hold/Accumulate Upgraded

Predicted Opening Price for Sakthi Sugars Limited of Tuesday, May 21, 2024

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