Sanghi Industries Limited Stock Forecast
Green day on Wednesday for Sanghi Industries Limited stock after gaining 0.655%
(Updated on Jun 26, 2024)
The Sanghi Industries Limited stock price gained 0.655% on the last trading day (Wednesday, 26th Jun 2024), rising from ₹102.26 to ₹102.93. During the last trading day the stock fluctuated 8.29% from a day low at ₹96.50 to a day high of ₹104.50. The price has risen in 6 of the last 10 days and is up by 13.62% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately ₹401.39 million.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ₹105.67 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Sanghi Industries Limited stock with a 90% probability to be traded between ₹87.21 and ₹107.44 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SANGHIIND.NS Signals & Forecast
The Sanghi Industries 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 ₹101.88 and ₹94.14. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. 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 Friday, June 14, 2024, and so far it has fallen -2.41%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Sanghi Industries Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹97.30 and ₹93.00. 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, Sanghi Industries Limited finds support just below today's level at ₹97.30. If this is broken, then the next support from accumulated volume will be at ₹93.00 and ₹91.60.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹8.00 between high and low, or 8.29%. For the last week, the stock has had daily average volatility of 5.35%.
Our recommended stop-loss: ₹99.02 (-3.80%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (SANGHIIND.NS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Sanghi Industries Limited to open at ₹101.31, and during the day (based on 14 day Average True Range), to move between ₹98.18 and ₹107.68, which gives a possible trading interval of +/-₹4.75 (+/-4.62%) up or down from last closing price. If Sanghi Industries Limited takes out the full calculated possible swing range there will be an estimated 9.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹103.23 (0.29%) than the support at ₹97.30 (5.47%), 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 Sanghi Industries Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Sanghi Industries Limited stock to perform well in the short-term period.
Current score: 2.921 Buy Candidate Unchanged
Predicted Opening Price for Sanghi Industries Limited of Thursday, June 27, 2024
Fair opening price June 27, 2024 | Current price |
---|---|
₹101.31 ( 1.57%) | ₹102.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SANGHIIND.NS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 109.31 | 6.20% |
R2 | 106.25 | 3.23% |
R1 | 104.37 | 1.40% |
Price | 102.93 | |
S1 | 98.25 | -4.54% |
S2 | 96.37 | -6.38% |
S3 | 93.31 | -9.35% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 105.47 | 2.47% |
R2 | 104.74 | 1.76% |
R1 | 103.23 | 0.291% |
Price | 102.93 | |
S1 | 97.30 | -5.47% |
S2 | 93.00 | -9.65% |
S3 | 91.60 | -11.01% |
SANGHIIND Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 18, 1997 | Feb 28, 1997 | Apr 01, 1997 | ₹0.509 | 0% |
2 | Feb 03, 1996 | Apr 02, 1996 | Apr 01, 1996 | ₹0.764 | 0% |
FAQ
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