Shashijit Infraprojects Limited Stock Forecast
Shashijit Infraprojects Limited stock downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Jul 04, 2024)
The Shashijit Infraprojects Limited stock price fell by -4.76% on the last day (Thursday, 4th Jul 2024) from ₹7.14 to ₹6.80. During the last trading day the stock fluctuated 8.89% from a day low at ₹6.75 to a day high of ₹7.35. The price has fallen in 7 of the last 10 days but is still up by 9.32% over the past 2 weeks. 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 -631 thousand shares and in total, 325 thousand shares were bought and sold for approximately ₹2.21 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Shashijit Infraprojects Limited stock with a 90% probability to be traded between ₹5.61 and ₹7.13 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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SHASHIJIT.BO Signals & Forecast
The Shashijit Infraprojects Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹6.67 and ₹6.48. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Wednesday, July 03, 2024, and so far it has fallen -4.76%. Further fall is indicated until a new bottom pivot has been found. 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 Shashijit Infraprojects Limited stock
Shashijit Infraprojects Limited finds support from accumulated volume at ₹6.76 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 ₹0.600 between high and low, or 8.89%. For the last week, the stock has had daily average volatility of 13.31%.
Our recommended stop-loss: ₹6.45 (-5.21%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (SHASHIJIT.BO) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Shashijit Infraprojects Limited to open at ₹6.97, and during the day (based on 14 day Average True Range), to move between ₹6.21 and ₹7.39, which gives a possible trading interval of +/-₹0.589 (+/-8.66%) up or down from last closing price. If Shashijit Infraprojects Limited takes out the full calculated possible swing range there will be an estimated 17.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹6.76 (0.59%) than the resistance at ₹6.99 (2.79%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shashijit Infraprojects Limited stock A Buy?
Shashijit Infraprojects 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: 0.241 Hold/Accumulate Downgraded
Predicted Opening Price for Shashijit Infraprojects Limited of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| ₹6.97 ( 2.45%) | ₹6.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHASHIJIT.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.57 | 11.27% |
| R2 | 7.34 | 7.90% |
| R1 | 7.20 | 5.82% |
| Price | 6.80 | |
| S1 | 6.74 | -0.92% |
| S2 | 6.60 | -3.00% |
| S3 | 6.37 | -6.37% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.14 | 5.00% |
| R2 | 7.01 | 3.09% |
| R1 | 6.99 | 2.79% |
| Price | 6.80 | |
| S1 | 6.76 | -0.588% |
| S2 | 6.62 | -2.65% |
| S3 | 6.40 | -5.88% |
SHASHIJIT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 20, 2019 | Sep 20, 2019 | Oct 30, 2019 | ₹0.0100 | 0.0308% |
| 2 | Sep 12, 2018 | Sep 12, 2018 | Oct 29, 2018 | ₹0.0333 | 0.136% |
| 3 | Sep 14, 2017 | Sep 14, 2017 | Oct 25, 2017 | ₹0.0217 | 0.0963% |
FAQ
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