Seshasayee Paper and Boards Limited Stock Forecast
Seshasayee Paper and Boards Limited stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Jun 25, 2024)
The Seshasayee Paper and Boards Limited stock price gained 1.57% on the last trading day (Tuesday, 25th Jun 2024), rising from ₹342.95 to ₹348.35. During the last trading day the stock fluctuated 5.52% from a day low at ₹335.10 to a day high of ₹353.60. The price has been going up and down for this period, and there has been a 3.83% gain for the last 2 weeks. Volume fell on the last day by -13 thousand shares and in total, 8 thousand shares were bought and sold for approximately ₹2.80 million. 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 in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.99% during the next 3 months and, with a 90% probability hold a price between ₹334.15 and ₹396.80 at the end of this 3-month period.
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SESHAPAPER.BO Signals & Forecast
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 ₹346.05 and ₹329.49. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 -1.22%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Seshasayee Paper and Boards Limited stock
Seshasayee Paper and Boards Limited finds support from accumulated volume at ₹342.95 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 ₹18.50 between high and low, or 5.52%. For the last week, the stock has had daily average volatility of 4.41%.
Our recommended stop-loss: ₹337.67 (-3.07%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 79 and this increases the risk substantially. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (SESHAPAPER.BO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Seshasayee Paper and Boards Limited to open at ₹345.68, and during the day (based on 14 day Average True Range), to move between ₹333.59 and ₹363.11, which gives a possible trading interval of +/-₹14.76 (+/-4.24%) 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 8.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹349.15 (0.23%) than the support at ₹342.95 (1.55%), 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 Seshasayee Paper and Boards 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 Seshasayee Paper and Boards 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: 3.856 Buy Candidate Upgraded
Predicted Opening Price for Seshasayee Paper and Boards Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹345.68 ( 0.766%) | ₹348.35 |
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 | 364.18 | 4.55% |
| R2 | 357.12 | 2.52% |
| R1 | 352.75 | 1.26% |
| Price | 348.35 | |
| S1 | 338.62 | -2.79% |
| S2 | 334.25 | -4.05% |
| S3 | 327.18 | -6.08% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 352.65 | 1.23% |
| R1 | 349.15 | 0.230% |
| Price | 348.35 | |
| S1 | 342.95 | -1.55% |
| S2 | 335.05 | -3.82% |
| S3 | 299.40 | -14.05% |
SESHAPAPER Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 22, 2024 | May 22, 2024 | Jul 01, 2024 | ₹5.00 | 1.44% |
| 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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