Sandu Pharmaceuticals Limited Stock Forecast
Sandu Pharmaceuticals Limited stock price up 1.05% on Friday
(Updated on May 17, 2024)
The Sandu Pharmaceuticals Limited stock price gained 1.05% on the last trading day (Friday, 17th May 2024), rising from ₹61.85 to ₹62.50. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.14% from a day low at ₹61.85 to a day high of ₹63.79. The price has fallen in 6 of the last 10 days but is still up by 0.18% over the past 2 weeks. Volume fell on the last day by -789 shares and in total, 2 thousand shares were bought and sold for approximately ₹144.94 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹62.91 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -12.70% during the next 3 months and, with a 90% probability hold a price between ₹44.41 and ₹54.91 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SANDUPHQ.BO Signals & Forecast
The Sandu Pharmaceuticals Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹59.59 and ₹61.47. 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 Tuesday, April 09, 2024, and so far it has fallen -6.38%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Sandu Pharmaceuticals Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹59.19 and ₹59.15. 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, Sandu Pharmaceuticals Limited finds support just below today's level at ₹59.19. If this is broken, then the next support from accumulated volume will be at ₹59.15 and ₹56.81.
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 ₹1.94 between high and low, or 3.14%. For the last week the stock has had daily average volatility of 2.96%.
Our recommended stop-loss: ₹59.11 (-5.42%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 37 days ago.)
Trading Expectations (SANDUPHQ.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Sandu Pharmaceuticals Limited to open at ₹62.71, and during the day (based on 14 day Average True Range), to move between ₹60.13 and ₹64.87, which gives a possible trading interval of +/-₹2.37 (+/-3.80%) up or down from last closing price. If Sandu Pharmaceuticals Limited takes out the full calculated possible swing range there will be an estimated 7.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹59.19 (5.30%) than the resistance at ₹66.76 (6.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sandu Pharmaceuticals Limited stock A Buy?
Sandu Pharmaceuticals 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: 0.577 Hold/Accumulate Unchanged
Predicted Opening Price for Sandu Pharmaceuticals Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹62.71 ( 0.341%) | ₹62.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SANDUPHQ.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 64.65 | 3.45 % | |
| R2 | 63.91 | 2.26 % | ||
| R1 | 63.45 | 1.53 % | ||
| Current price: | 62.50 | |||
| Support | S1 | 61.97 | -0.84 % | |
| S2 | 61.51 | -1.58 % | ||
| S3 | 60.77 | -2.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 75.99 | 21.58 % | |
| R2 | 69.72 | 11.55 % | ||
| R1 | 66.76 | 6.82 % | ||
| Current price | 62.50 | |||
| Support | S1 | 59.19 | -5.30% | |
| S2 | 59.15 | -5.36% | ||
| S3 | 56.81 | -9.10% |
FAQ
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