Shanthi Gears Limited Stock Forecast
Evaluation of Shanthi Gears Limited stock downgraded after the last trading session.
(Updated on Jun 14, 2024)
The Shanthi Gears Limited stock price fell by -0.713% on the last day (Friday, 14th Jun 2024) from ₹546.70 to ₹542.80. During the last trading day the stock fluctuated 5.14% from a day low at ₹537.95 to a day high of ₹565.60. The price has risen in 6 of the last 10 days and is up by 3.77% over the past 2 weeks. Volume has increased on the last day by 2 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 6 thousand shares were bought and sold for approximately ₹3.07 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Shanthi Gears Limited stock with a 90% probability to be traded between ₹517.61 and ₹590.79 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SHANTIGEAR.BO Signals & Forecast
There are mixed signals in the stock today. The Shanthi Gears Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹551.68. On a fall, the stock will find some support from the short-term average at ₹539.79. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 7.00%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Shanthi Gears Limited stock
Shanthi Gears Limited finds support from accumulated volume at ₹536.85 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ₹27.65 between high and low, or 5.14%. For the last week, the stock has had daily average volatility of 2.44%.
Our recommended stop-loss: ₹526.08 (-3.08%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 42 days ago.)
Trading Expectations (SHANTIGEAR.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Shanthi Gears Limited to open at ₹548.78, and during the day (based on 14 day Average True Range), to move between ₹523.36 and ₹562.24, which gives a possible trading interval of +/-₹19.44 (+/-3.58%) up or down from last closing price. If Shanthi Gears Limited takes out the full calculated possible swing range there will be an estimated 7.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹536.85 (1.10%) than the resistance at ₹550.65 (1.45%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shanthi Gears Limited stock A Buy?
Shanthi Gears 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. 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 Hold/Accumulate candidate.
Current score: 0.542 Hold/Accumulate Downgraded
Predicted Opening Price for Shanthi Gears Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹548.78 ( 1.10%) | ₹542.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHANTIGEAR.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 576.43 | 6.20% |
| R2 | 565.87 | 4.25% |
| R1 | 559.35 | 3.05% |
| Price | 542.80 | |
| S1 | 538.22 | -0.84% |
| S2 | 531.70 | -2.05% |
| S3 | 521.13 | -3.99% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 557.30 | 2.67% |
| R2 | 555.00 | 2.25% |
| R1 | 550.65 | 1.45% |
| Price | 542.80 | |
| S1 | 536.85 | -1.10% |
| S2 | 529.05 | -2.53% |
| S3 | 507.30 | -6.54% |
SHANTIGEAR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 19, 2024 | Jul 19, 2024 | Aug 28, 2024 | ₹2.00 | 0.368% |
| 2 | Feb 09, 2024 | Feb 09, 2024 | Feb 09, 2024 | ₹3.00 | 0.586% |
| 3 | Jul 14, 2023 | Jul 14, 2023 | Aug 25, 2023 | ₹2.00 | 0.439% |
| 4 | Feb 08, 2023 | Feb 08, 2023 | Feb 23, 2023 | ₹3.00 | 0.91% |
| 5 | Jul 13, 2017 | Jul 13, 2017 | Aug 25, 2017 | ₹0.750 | 0.566% |
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