Shalby Limited Stock Forecast
Green day on Tuesday for Shalby Limited
(Updated on Apr 23, 2024)
The Shalby Limited stock price gained 1.41% on the last trading day (Tuesday, 23rd Apr 2024), rising from ₹273.80 to ₹277.65. During the last trading day the stock fluctuated 2.06% from a day low at ₹274.10 to a day high of ₹279.75. The price has fallen in 7 of the last 10 days and is down by -1.58% for this period. Volume fell on the last day by -43 thousand shares and in total, 103 thousand shares were bought and sold for approximately ₹28.55 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 stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is ₹272.13, a level that may pose a second chance to hit a runner. According to fan-theory ₹354.33 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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SHALBY.NS Signals & Forecast
The Shalby 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 ₹271.76 and ₹254.45. 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 Monday, April 08, 2024, and so far it has fallen -1.58%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Shalby Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹262.70 and ₹248.00. 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, Shalby Limited finds support just below today's level at ₹262.70. If this is broken, then the next support from accumulated volume will be at ₹248.00 and ₹215.85.
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 ₹5.65 between high and low, or 2.06%. For the last week, the stock has had daily average volatility of 2.84%.
Our recommended stop-loss: ₹268.39 (-3.34%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (SHALBY.NS) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Shalby Limited to open at ₹277.17, and during the day (based on 14 day Average True Range), to move between ₹267.36 and ₹287.94, which gives a possible trading interval of +/-₹10.29 (+/-3.71%) up or down from last closing price. If Shalby Limited takes out the full calculated possible swing range there will be an estimated 7.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹282.10 (1.60%) than the support at ₹262.70 (5.38%), 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 Shalby Limited stock A Buy?
Shalby 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: -0.516 Hold/Accumulate Unchanged
Predicted Opening Price for Shalby Limited of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| ₹277.17 ( 0.174%) | ₹277.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHALBY.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 282.82 | 1.86 % | |
| R2 | 280.66 | 1.08 % | ||
| R1 | 279.32 | 0.603 % | ||
| Current price: | 277.65 | |||
| Support | S1 | 275.01 | -0.95 % | |
| S2 | 273.67 | -1.43 % | ||
| S3 | 271.52 | -2.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 316.35 | 13.94 % | |
| R2 | 311.45 | 12.17 % | ||
| R1 | 282.10 | 1.60 % | ||
| Current price | 277.65 | |||
| Support | S1 | 262.70 | -5.38% | |
| S2 | 248.00 | -10.68% | ||
| S3 | 215.85 | -22.26% |
SHALBY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 19, 2022 | Sep 19, 2022 | Sep 19, 2022 | ₹1.00 | 0.742% |
| 2 | Sep 17, 2021 | Sep 17, 2021 | Sep 17, 2021 | ₹1.00 | 0.543% |
| 3 | Sep 04, 2020 | Sep 04, 2020 | Sep 04, 2020 | ₹0.500 | 0.620% |
| 4 | May 25, 2019 | Aug 16, 2019 | Sep 25, 2019 | ₹0.500 | 0.550% |
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