Shalimar Paints Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Shalimar Paints Limited stock downgraded from Buy Candidate to Sell Candidate after Monday trading session.
(Updated on May 06, 2024)
The Shalimar Paints Limited stock price fell by -3.61% on the last day (Monday, 6th May 2024) from ₹173.30 to ₹167.05. During the last trading day the stock fluctuated 5.75% from a day low at ₹166.10 to a day high of ₹175.65. The price has risen in 5 of the last 10 days but is still down by -4.38% for this period. 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 -28 thousand shares and in total, 222 thousand shares were bought and sold for approximately ₹37.16 million.
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 ₹173.46 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 -15.69% during the next 3 months and, with a 90% probability hold a price between ₹116.21 and ₹146.23 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
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 6.40%. Further rise is indicated until a new top pivot has been found. 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. On corrections up, there will be some resistance from the lines at ₹170.63 and ₹169.25. 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). 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 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.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹9.55 between high and low, or 5.75%. For the last week the stock has had daily average volatility of 3.05%.
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 Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Shalimar Paints Limited to open at ₹169.60, and during the day (based on 14 day Average True Range), to move between ₹160.55 and ₹173.55, which gives a possible trading interval of +/-₹6.50 (+/-3.89%) up or down from last closing price. If Shalimar Paints Limited takes out the full calculated possible swing range there will be an estimated 7.79% 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 (0.57%) than the resistance at ₹173.00 (3.56%), 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 Buy to a Sell candidate.
Current score: -2.395 Sell Candidate Downgraded
Predicted Opening Price for Shalimar Paints Limited of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ₹169.60 ( 1.53%) | ₹167.05 |
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 | 179.15 | 7.24 % | |
| R2 | 175.50 | 5.06 % | ||
| R1 | 173.25 | 3.71 % | ||
| Current price: | 167.05 | |||
| Support | S1 | 165.95 | -0.657 % | |
| S2 | 163.70 | -2.01 % | ||
| S3 | 160.05 | -4.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 194.85 | 16.64 % | |
| R2 | 193.65 | 15.92 % | ||
| R1 | 173.00 | 3.56 % | ||
| Current price | 167.05 | |||
| Support | S1 | 166.10 | -0.569% | |
| S2 | 165.00 | -1.23% | ||
| S3 | 157.00 | -6.02% |
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
Click here for our free guide on how to buy Shalimar Paints Limited Stock.
