Seshasayee Paper and Boards Limited Stock Forecast
Stronger technical forecast for Seshasayee Paper and Boards Limited stock price after Friday trading.
(Updated on Jun 14, 2024)
The Seshasayee Paper and Boards Limited stock price gained 2.59% on the last trading day (Friday, 14th Jun 2024), rising from ₹343.75 to ₹352.65. 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 3.85% from a day low at ₹347.00 to a day high of ₹360.35. The price has risen in 7 of the last 10 days and is up by 9.96% 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, 6 thousand more shares were traded than the day before. In total, 11 thousand shares were bought and sold for approximately ₹3.78 million.
The stock lies in the upper part of a wide and weak rising 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 ₹361.90 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 6.60% during the next 3 months and, with a 90% probability hold a price between ₹326.14 and ₹385.80 at the end of this 3-month period.
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SESHAPAPER.BO Signals & Forecast
Mostly positive signals in the chart today. The Seshasayee Paper and Boards 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 ₹337.10 and ₹327.98. 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 16.44%. 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 Seshasayee Paper and Boards Limited stock
Seshasayee Paper and Boards Limited finds support from accumulated volume at ₹349.15 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 ₹13.35 between high and low, or 3.85%. For the last week, the stock has had daily average volatility of 4.79%.
Our recommended stop-loss: ₹339.60 (-3.70%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 33 days ago.)
Trading Expectations (SESHAPAPER.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Seshasayee Paper and Boards Limited to open at ₹353.33, and during the day (based on 14 day Average True Range), to move between ₹337.88 and ₹367.42, which gives a possible trading interval of +/-₹14.77 (+/-4.19%) up or down from last closing price. If Seshasayee Paper and Boards Limited takes out the full calculated possible swing range there will be an estimated 8.38% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹349.15, some ₹3.50 (0.99%) from the current price of ₹352.65, our system finds the risk reward attractive.
Is Seshasayee Paper and Boards Limited stock A Buy?
Seshasayee Paper and Boards Limited holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.044 Strong Buy Candidate Upgraded
Predicted Opening Price for Seshasayee Paper and Boards Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹353.33 ( 0.194%) | ₹352.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SESHAPAPER.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 366.68 | 3.98% |
| R2 | 361.58 | 2.53% |
| R1 | 358.43 | 1.64% |
| Price | 352.65 | |
| S1 | 348.23 | -1.25% |
| S2 | 345.08 | -2.15% |
| S3 | 339.98 | -3.59% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 352.65 | |
| S1 | 349.15 | -0.99% |
| S2 | 335.05 | -4.99% |
| S3 | 299.40 | -15.10% |
SESHAPAPER Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 22, 2024 | May 22, 2024 | Jul 01, 2024 | ₹5.00 | 1.42% |
| 2 | Jun 07, 2023 | Jun 07, 2023 | Jul 17, 2023 | ₹6.00 | 2.02% |
| 3 | Jul 18, 2017 | Jul 18, 2017 | Aug 28, 2017 | ₹10.00 | 7.39% |
| 4 | Jul 14, 2016 | Jul 14, 2016 | Jul 14, 2016 | ₹5.00 | 8.31% |
| 5 | Jul 21, 2015 | Jul 21, 2015 | Jul 21, 2015 | ₹4.00 | 9.69% |
FAQ
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