Sanco Trans Limited Stock Forecast

Sanco Trans Limited stock price took a fall of -7.08% on Tuesday
(Updated on Apr 16, 2024)

SANCTRN.BO Signals & Forecast

The Sanco Trans 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 ₹687.18 and ₹658.93. A breakdown below any of these levels will issue sell signals. 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 Monday, April 15, 2024, and so far it has fallen -7.08%. 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 fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Sanco Trans Limited stock

Sanco Trans Limited finds support from accumulated volume at ₹670.00 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹63.40 between high and low, or 9.19%. For the last week the stock has had daily average volatility of 9.64%.

Our recommended stop-loss: ₹653.86 (-5.94%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (SANCTRN.BO) For The Upcoming Trading Day Of Thursday 18th

For the upcoming trading day on Thursday, 18th we expect Sanco Trans Limited to open at ₹712.98, and during the day (based on 14 day Average True Range), to move between ₹654.97 and ₹735.33, which gives a possible trading interval of +/-₹40.18 (+/-5.78%) up or down from last closing price. If Sanco Trans Limited takes out the full calculated possible swing range there will be an estimated 11.56% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹670.00 (3.62%) than the resistance at ₹748.10 (7.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Sanco Trans Limited 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 Sanco Trans Limited 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: 1.383 Buy Candidate Upgraded

Predicted Opening Price for Sanco Trans Limited of Thursday, April 18, 2024

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