Shalimar Paints Limited Stock Forecast
Evaluation of Shalimar Paints Limited stock downgraded after the last trading session.
(Updated on Apr 26, 2024)
The Shalimar Paints Limited stock price gained 0.567% on the last trading day (Friday, 26th Apr 2024), rising from ₹167.60 to ₹168.55. During the last trading day the stock fluctuated 2.59% from a day low at ₹167.65 to a day high of ₹172.00. The price has fallen in 6 of the last 10 days and is down by -1.26% for this period. Volume fell on the last day by -8 thousand shares and in total, 151 thousand shares were bought and sold for approximately ₹25.40 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 the upper part of a very wide and falling 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 ₹171.95 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -19.32% during the next 3 months and, with a 90% probability hold a price between ₹110.61 and ₹138.73 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SHALPAINTS.NS Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 7.36%. Further rise is indicated until a new top pivot has been found. 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. The Shalimar Paints Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹169.84 and ₹170.28. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Shalimar Paints Limited stock
Shalimar Paints Limited finds support from accumulated volume at ₹166.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹4.35 (2.59%) between high and low. For the last week, the stock has had daily average volatility of 3.31%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SHALPAINTS.NS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Shalimar Paints Limited to open at ₹169.40, and during the day (based on 14 day Average True Range), to move between ₹161.29 and ₹175.81, which gives a possible trading interval of +/-₹7.26 (+/-4.31%) up or down from last closing price. If Shalimar Paints Limited takes out the full calculated possible swing range there will be an estimated 8.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹166.10 (1.45%) than the resistance at ₹193.65 (14.89%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shalimar Paints Limited stock A Buy?
Shalimar Paints Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.415 Sell Candidate Downgraded
Predicted Opening Price for Shalimar Paints Limited of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
₹169.40 ( 0.504%) | ₹168.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHALPAINTS.NS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 173.75 | 3.09 % | |
R2 | 172.09 | 2.10 % | ||
R1 | 171.06 | 1.49 % | ||
Current price: | 168.55 | |||
Support | S1 | 167.74 | -0.482 % | |
S2 | 166.71 | -1.09 % | ||
S3 | 165.05 | -2.08 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 201.50 | 19.55 % | |
R2 | 194.85 | 15.60 % | ||
R1 | 193.65 | 14.89 % | ||
Current price | 168.55 | |||
Support | S1 | 166.10 | -1.45% | |
S2 | 165.00 | -2.11% | ||
S3 | 157.00 | -6.85% |
SHALPAINTS Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 07, 2012 | Jul 09, 2012 | Aug 17, 2012 | ₹1.44 | 1.83% |
2 | May 07, 2011 | Aug 03, 2011 | Sep 11, 2011 | ₹1.15 | 1.64% |
3 | May 28, 2010 | Jul 20, 2010 | Aug 29, 2010 | ₹1.08 | 2.01% |
4 | Jun 29, 2009 | Jul 20, 2009 | Jul 30, 2009 | ₹0.431 | 1.52% |
5 | May 09, 2008 | Jul 17, 2008 | Sep 01, 2008 | ₹1.01 | 2.49% |
FAQ
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