Savera Industries Limited Stock Forecast
Big movements in Savera Industries Limited stock price on Tuesday moving 14.99% between high and low
(Updated on Jun 25, 2024)
The Savera Industries Limited stock price gained 7.35% on the last trading day (Tuesday, 25th Jun 2024), rising from ₹120.40 to ₹129.25. During the last trading day the stock fluctuated 14.99% from a day low at ₹117.40 to a day high of ₹135.00. The price has risen in 6 of the last 10 days and is up by 8.7% 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, 66 thousand more shares were traded than the day before. In total, 78 thousand shares were bought and sold for approximately ₹10.05 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.84% during the next 3 months and, with a 90% probability hold a price between ₹102.67 and ₹135.80 at the end of this 3-month period.
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SAVERA.BO Signals & Forecast
Mostly positive signals in the chart today. The Savera Industries 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 ₹120.59 and ₹124.42. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 21.19%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Savera Industries Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹118.85 and ₹117.35. 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, Savera Industries Limited finds support just below today's level at ₹118.85. If this is broken, then the next support from accumulated volume will be at ₹117.35 and ₹115.50.
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 ₹17.60 between high and low, or 14.99%. For the last week, the stock has had daily average volatility of 5.53%.
Our recommended stop-loss: ₹124.93 (-3.34%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from a pivot bottom found 36 days ago.)
Trading Expectations (SAVERA.BO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Savera Industries Limited to open at ₹127.22, and during the day (based on 14 day Average True Range), to move between ₹122.22 and ₹136.28, which gives a possible trading interval of +/-₹7.03 (+/-5.44%) up or down from last closing price. If Savera Industries Limited takes out the full calculated possible swing range there will be an estimated 10.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹136.65 (5.73%) than the support at ₹118.85 (8.05%), 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 Savera Industries Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 3.720 Buy Candidate Upgraded
Predicted Opening Price for Savera Industries Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹127.22 ( 1.57%) | ₹129.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SAVERA.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 144.82 | 12.04% |
| R2 | 138.09 | 6.84% |
| R1 | 133.94 | 3.63% |
| Price | 129.25 | |
| S1 | 120.49 | -6.77% |
| S2 | 116.34 | -9.99% |
| S3 | 109.62 | -15.19% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 139.25 | 7.74% |
| R2 | 138.00 | 6.77% |
| R1 | 136.65 | 5.73% |
| Price | 129.25 | |
| S1 | 118.85 | -8.05% |
| S2 | 117.35 | -9.21% |
| S3 | 115.50 | -10.64% |
SAVERA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 03, 2024 | Sep 03, 2024 | Oct 10, 2024 | ₹3.00 | 2.32% |
| 2 | Sep 08, 2023 | Sep 08, 2023 | Oct 15, 2023 | ₹3.00 | 3.26% |
| 3 | Nov 25, 2019 | Nov 25, 2019 | Dec 14, 2019 | ₹1.20 | 2.62% |
| 4 | Aug 28, 2019 | Aug 28, 2019 | Oct 05, 2019 | ₹0.200 | 0.465% |
| 5 | Feb 21, 2019 | Feb 21, 2019 | Mar 15, 2019 | ₹1.00 | 1.51% |
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