Shah Alloys Limited Stock Forecast
Green day on Thursday for Shah Alloys Limited
(Updated on Jul 04, 2024)
The Shah Alloys Limited stock price gained 0.608% on the last trading day (Thursday, 4th Jul 2024), rising from ₹62.47 to ₹62.85. During the last trading day the stock fluctuated 5.22% from a day low at ₹61.25 to a day high of ₹64.45. The price has been going up and down for this period, and there has been a -4.9% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 15 thousand more shares were traded than the day before. In total, 33 thousand shares were bought and sold for approximately ₹2.04 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 -2.20% during the next 3 months and, with a 90% probability hold a price between ₹50.56 and ₹68.17 at the end of this 3-month period.
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SHAHALLOYS.NS Signals & Forecast
The Shah Alloys 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 ₹62.01 and ₹61.55. A breakdown below any of these levels will issue sell signals. 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 -10.25%. 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 Shah Alloys Limited stock
Shah Alloys Limited finds support from accumulated volume at ₹62.29 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ₹3.20 between high and low, or 5.22%. For the last week, the stock has had daily average volatility of 4.96%.
Our recommended stop-loss: ₹60.22 (-4.18%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (SHAHALLOYS.NS) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Shah Alloys Limited to open at ₹62.85, and during the day (based on 14 day Average True Range), to move between ₹59.04 and ₹66.66, which gives a possible trading interval of +/-₹3.81 (+/-6.06%) up or down from last closing price. If Shah Alloys Limited takes out the full calculated possible swing range there will be an estimated 12.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹62.29 (0.89%) than the resistance at ₹65.71 (4.55%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shah Alloys Limited stock A Buy?
Shah Alloys Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.998 Hold/Accumulate Unchanged
Predicted Opening Price for Shah Alloys Limited of Friday, July 5, 2024
Fair opening price July 5, 2024 | Current price |
---|---|
₹62.85 ( 0%) | ₹62.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHAHALLOYS.NS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 66.05 | 5.09% |
R2 | 64.83 | 3.15% |
R1 | 64.07 | 1.94% |
Price | 62.85 | |
S1 | 61.63 | -1.94% |
S2 | 60.87 | -3.15% |
S3 | 59.65 | -5.09% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 70.03 | 11.42% |
R2 | 69.24 | 10.17% |
R1 | 65.71 | 4.55% |
Price | 62.85 | |
S1 | 62.29 | -0.89% |
S2 | 61.87 | -1.56% |
S3 | 60.32 | -4.03% |
SHAHALLOYS Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 30, 2007 | Sep 06, 2007 | Oct 01, 2007 | ₹1.00 | 1.48% |
2 | Aug 01, 2006 | Sep 15, 2006 | Oct 04, 2006 | ₹1.00 | 0.595% |
3 | Sep 08, 2005 | Sep 08, 2005 | Sep 08, 2005 | ₹0.500 | 0.310% |
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