Sharda Cropchem Limited Stock Forecast

Green day on Friday for Sharda Cropchem Limited stock after gaining 1.15%
(Updated on May 10, 2024)

SHARDACROP.BO Signals & Forecast

The Sharda Cropchem Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹360.91. On a fall, the stock will find some support from the long-term average at approximately ₹355.84. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume is rising along with the price. This is considered to be a good technical signal. 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 Friday, April 26, 2024, and so far it has fallen -5.02%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Sharda Cropchem Limited stock

Sharda Cropchem Limited finds support from accumulated volume at ₹359.15 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 ₹8.40 (2.37%) between high and low. For the last week, the stock has had daily average volatility of 1.97%.

Our recommended stop-loss: ₹341.98 (-5.05%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)

Trading Expectations (SHARDACROP.BO) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Sharda Cropchem Limited to open at ₹359.38, and during the day (based on 14 day Average True Range), to move between ₹350.51 and ₹369.79, which gives a possible trading interval of +/-₹9.64 (+/-2.68%) up or down from last closing price. If Sharda Cropchem Limited takes out the full calculated possible swing range there will be an estimated 5.36% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹359.15 (0.28%) than the resistance at ₹363.85 (1.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Sharda Cropchem Limited stock A Buy?

Sharda Cropchem 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: -0.482 Hold/Accumulate Unchanged

Predicted Opening Price for Sharda Cropchem Limited of Monday, May 13, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.