Setco Automotive Limited Stock Forecast
Setco Automotive Limited stock price up 4.61% on Thursday
(Updated on May 09, 2024)
The Setco Automotive Limited stock price gained 4.61% on the last trading day (Thursday, 9th May 2024), rising from ₹10.85 to ₹11.35. During the last trading day the stock fluctuated 9.13% from a day low at ₹10.40 to a day high of ₹11.35. The price has fallen in 5 of the last 10 days and is down by -6.2% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 96 thousand more shares were traded than the day before. In total, 176 thousand shares were bought and sold for approximately ₹2.00 million.
The stock lies in the middle of a very wide and strong 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 45.70% during the next 3 months and, with a 90% probability hold a price between ₹12.09 and ₹20.99 at the end of this 3-month period.
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SETCO.NS Signals & Forecast
The Setco Automotive Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹12.20. On a fall, the stock will find some support from the long-term average at approximately ₹9.57. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Wednesday, May 01, 2024, and so far it has fallen -18.64%. 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).
Support, Risk & Stop-loss for Setco Automotive Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹9.55 and ₹9.30. 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, Setco Automotive Limited finds support just below today's level at ₹9.55. If this is broken, then the next support from accumulated volume will be at ₹9.30 and ₹8.90.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₹0.95 between high and low, or 9.13%. For the last week, the stock has had daily average volatility of 2.38%.
Our recommended stop-loss: ₹10.69 (-5.82%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (SETCO.NS) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Setco Automotive Limited to open at ₹11.03, and during the day (based on 14 day Average True Range), to move between ₹10.76 and ₹11.94, which gives a possible trading interval of +/-₹0.591 (+/-5.21%) up or down from last closing price. If Setco Automotive Limited takes out the full calculated possible swing range there will be an estimated 10.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹12.10 (6.61%) than the support at ₹9.55 (15.86%), 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 Setco Automotive 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 Setco Automotive Limited stock to perform well in the short-term.
Current score: 1.965 Buy Candidate Unchanged
Predicted Opening Price for Setco Automotive Limited of Friday, May 10, 2024
Fair opening price May 10, 2024 | Current price |
---|---|
₹11.03 ( 2.79%) | ₹11.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SETCO.NS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.98 | 5.58 % | |
R2 | 11.62 | 2.38 % | ||
R1 | 11.40 | 0.407 % | ||
Current price: | 11.35 | |||
Support | S1 | 10.67 | -5.99 % | |
S2 | 10.45 | -7.96 % | ||
S3 | 10.08 | -11.16 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 13.95 | 22.91 % | |
R2 | 13.25 | 16.74 % | ||
R1 | 12.10 | 6.61 % | ||
Current price | 11.35 | |||
Support | S1 | 9.55 | -15.86% | |
S2 | 9.30 | -18.06% | ||
S3 | 8.90 | -21.59% |
SETCO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 30, 2019 | Sep 19, 2019 | Sep 28, 2019 | ₹1.00 | 6.39% |
2 | May 23, 2018 | Sep 19, 2018 | Oct 28, 2018 | ₹0.80 | 2.27% |
3 | May 30, 2017 | Sep 18, 2017 | Oct 27, 2017 | ₹0.650 | 1.59% |
4 | Sep 20, 2016 | Sep 20, 2016 | Sep 20, 2016 | ₹0.80 | 1.83% |
FAQ
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