Shakti Pumps (India) Limited Stock Forecast
Shakti Pumps (India) Limited stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Jun 25, 2024)
The Shakti Pumps (India) Limited stock price fell by -2.78% on the last day (Tuesday, 25th Jun 2024) from ₹3,467.85 to ₹3,371.45. During the last trading day the stock fluctuated 8.12% from a day low at ₹3,325.00 to a day high of ₹3,595.00. The price has risen in 7 of the last 10 days and is up by 34.7% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -145 thousand shares and in total, 163 thousand shares were bought and sold for approximately ₹550.59 million.
The stock lies in the upper part of a very wide and strong 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 ₹3,497.48 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 110.66% during the next 3 months and, with a 90% probability hold a price between ₹5,823.75 and ₹7,367.91 at the end of this 3-month period.
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SHAKTIPUMP.NS Signals & Forecast
The Shakti Pumps (India) 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 ₹3,121.95 and ₹2,610.01. 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). 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 Monday, June 24, 2024, and so far it has fallen -2.78%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Shakti Pumps (India) Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹2,693.45 and ₹2,674.40. 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, Shakti Pumps (India) Limited finds support just below today's level at ₹2,693.45. If this is broken, then the next support from accumulated volume will be at ₹2,674.40 and ₹2,601.35.
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 ₹270.00 between high and low, or 8.12%. For the last week, the stock has had daily average volatility of 4.16%.
The Shakti Pumps (India) Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: ₹3,245.05 (-3.75%) (This stock has high daily movements and this gives high risk. The RSI14 is 82 and this increases the risk substantially. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (SHAKTIPUMP.NS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Shakti Pumps (India) Limited to open at ₹3,430.48, and during the day (based on 14 day Average True Range), to move between ₹3,212.68 and ₹3,530.22, which gives a possible trading interval of +/-₹158.77 (+/-4.71%) up or down from last closing price. If Shakti Pumps (India) Limited takes out the full calculated possible swing range there will be an estimated 9.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹3,467.85 (2.86%) than the support at ₹2,693.45 (20.11%), 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 Shakti Pumps (India) 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 Shakti Pumps (India) 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: 1.914 Buy Candidate Upgraded
Predicted Opening Price for Shakti Pumps (India) Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹3,430.48 ( 1.75%) | ₹3,371.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHAKTIPUMP.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,700.48 | 9.76% |
| R2 | 3,597.34 | 6.70% |
| R1 | 3,533.62 | 4.81% |
| Price | 3,371.45 | |
| S1 | 3,327.34 | -1.31% |
| S2 | 3,263.62 | -3.20% |
| S3 | 3,160.48 | -6.26% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 3,467.85 | 2.86% |
| Price | 3,371.45 | |
| S1 | 2,693.45 | -20.11% |
| S2 | 2,674.40 | -20.68% |
| S3 | 2,601.35 | -22.84% |
SHAKTIPUMP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 21, 2023 | Sep 21, 2023 | Oct 28, 2023 | ₹2.00 | 0.193% |
| 2 | Sep 21, 2022 | Sep 21, 2022 | Sep 21, 2022 | ₹2.00 | 0.384% |
| 3 | Sep 21, 2021 | Sep 21, 2021 | Sep 21, 2021 | ₹8.00 | 1.14% |
| 4 | Sep 20, 2021 | Sep 20, 2021 | Sep 20, 2021 | ₹8.00 | 1.13% |
| 5 | May 10, 2019 | Sep 18, 2019 | Oct 27, 2019 | ₹5.00 | 1.92% |
FAQ
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