Salzer Electronics Ltd Stock Forecast

Red day on Wednesday for Salzer Electronics Ltd
(Updated on Apr 24, 2024)

SALZERELEC.NS Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, March 22, 2024, and so far it has fallen -6.81%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Salzer Electronics Ltd 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 ₹805.01 and ₹774.44. A breakdown below any of these levels will issue sell signals.

Support, Risk & Stop-loss for Salzer Electronics Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹763.60 and ₹661.25. 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, Salzer Electronics Ltd finds support just below today's level at ₹763.60. If this is broken, then the next support from accumulated volume will be at ₹661.25 and ₹609.30.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹16.00 (1.99%) between high and low. For the last week, the stock has had daily average volatility of 3.92%.

Our recommended stop-loss: ₹780.92 (-3.34%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 20 days ago.)

Trading Expectations (SALZERELEC.NS) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Salzer Electronics Ltd to open at ₹811.30, and during the day (based on 14 day Average True Range), to move between ₹769.92 and ₹845.88, which gives a possible trading interval of +/-₹37.98 (+/-4.70%) up or down from last closing price. If Salzer Electronics Ltd takes out the full calculated possible swing range there will be an estimated 9.40% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹816.70 (1.09%) than the support at ₹763.60 (5.48%), 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 Salzer Electronics Ltd stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Salzer Electronics Ltd stock to perform well in the short-term.

Current score: 2.875 Buy Candidate Unchanged

Predicted Opening Price for Salzer Electronics Ltd of Thursday, April 25, 2024

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