Sharda Motor Industries Ltd Stock Forecast
Red day on Friday for Sharda Motor Industries Ltd
(Updated on May 17, 2024)
The Sharda Motor Industries Ltd stock price fell by -0.686% on the last day (Friday, 17th May 2024) from ₹1,493.85 to ₹1,483.60. During the last trading day the stock fluctuated 2.06% from a day low at ₹1,478.00 to a day high of ₹1,508.40. The price has been going up and down for this period, and there has been a -2.29% loss for the last 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, 22 thousand shares were bought and sold for approximately ₹32.95 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 13.08% during the next 3 months and, with a 90% probability hold a price between ₹1,501.22 and ₹1,900.21 at the end of this 3-month period.
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SHARDAMOTR.NS Signals & Forecast
There are few to no technical positive signals at the moment. The Sharda Motor Industries Ltd 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 ₹1,491.26. On a fall, the stock will find some support from the short-term average at ₹1,474.79. 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. A sell signal was issued from a pivot top point on Tuesday, April 16, 2024, and so far it has fallen -7.81%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Sharda Motor Industries Ltd stock
Sharda Motor Industries Ltd finds support from accumulated volume at ₹1,482.80 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 ₹30.40 between high and low, or 2.06%. For the last week the stock has had daily average volatility of 1.90%.
Our recommended stop-loss: ₹1,427.04 (-3.81%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (SHARDAMOTR.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Sharda Motor Industries Ltd to open at ₹1,490.00, and during the day (based on 14 day Average True Range), to move between ₹1,442.94 and ₹1,524.26, which gives a possible trading interval of +/-₹40.66 (+/-2.74%) up or down from last closing price. If Sharda Motor Industries Ltd takes out the full calculated possible swing range there will be an estimated 5.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹1,482.80 (0.05%) than the resistance at ₹1,504.15 (1.39%), 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 Motor Industries Ltd stock A Buy?
Sharda Motor Industries Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.752 Hold/Accumulate Unchanged
Predicted Opening Price for Sharda Motor Industries Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹1,490.00 ( 0.431%) | ₹1,483.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHARDAMOTR.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,520.40 | 2.48 % | |
| R2 | 1,508.79 | 1.70 % | ||
| R1 | 1,501.61 | 1.21 % | ||
| Current price: | 1,483.60 | |||
| Support | S1 | 1,478.39 | -0.351 % | |
| S2 | 1,471.21 | -0.83 % | ||
| S3 | 1,459.60 | -1.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,609.20 | 8.47 % | |
| R2 | 1,524.55 | 2.76 % | ||
| R1 | 1,504.15 | 1.39 % | ||
| Current price | 1,483.60 | |||
| Support | S1 | 1,482.80 | -0.0539% | |
| S2 | 1,342.20 | -9.53% | ||
| S3 | 1,206.70 | -18.66% |
SHARDAMOTR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 12, 2022 | Sep 12, 2022 | Sep 12, 2022 | ₹8.15 | 0.94% |
| 2 | Aug 18, 2021 | Aug 18, 2021 | Aug 18, 2021 | ₹2.63 | 0.393% |
| 3 | May 26, 2018 | Sep 18, 2018 | Oct 27, 2018 | ₹1.25 | 0.435% |
| 4 | Feb 04, 2018 | Feb 20, 2018 | Mar 14, 2018 | ₹1.25 | 0.318% |
| 5 | May 30, 2017 | Aug 22, 2017 | Sep 29, 2017 | ₹1.25 | 0.239% |
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