Samrat Pharmachem Limited Stock Forecast

Red day on Friday for Samrat Pharmachem Limited stock after losing 0.303%
(Updated on May 17, 2024)

SAMRATPH.BO Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has risen 2.28%. 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 Samrat Pharmachem Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹363.43 and ₹371.24. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Samrat Pharmachem 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 Samrat Pharmachem Limited stock

Samrat Pharmachem Limited finds support from accumulated volume at ₹347.55 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 ₹15.05 between high and low, or 4.18%. For the last week, the stock has had daily average volatility of 3.50%.

Our recommended stop-loss: ₹343.86 (-4.89%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)

Trading Expectations (SAMRATPH.BO) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Samrat Pharmachem Limited to open at ₹365.53, and during the day (based on 14 day Average True Range), to move between ₹343.47 and ₹379.63, which gives a possible trading interval of +/-₹18.08 (+/-5.00%) up or down from last closing price. If Samrat Pharmachem Limited takes out the full calculated possible swing range there will be an estimated 10.00% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹363.20 (0.46%) than the support at ₹347.55 (3.87%), 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 Samrat Pharmachem Limited stock A Buy?

Samrat Pharmachem Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.934 Hold/Accumulate Unchanged

Predicted Opening Price for Samrat Pharmachem Limited of Tuesday, May 21, 2024

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