Narmada Gelatines Limited Stock Forecast

Narmada Gelatines Limited stock upgraded to Buy Candidate.
(Updated on Jun 26, 2024)

SHAWGELTIN.BO Signals & Forecast

The Narmada Gelatines 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 ₹395.30. On a fall, the stock will find some support from the long-term average at approximately ₹388.79. 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. 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, May 22, 2024, and so far it has fallen -8.19%. 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 fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The stock had a Golden Star Signal on Thursday, June 06, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Narmada Gelatines Limited stock

Narmada Gelatines Limited finds support from accumulated volume at ₹370.90 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved ₹9.25 between high and low, or 2.38%. For the last week the stock has had daily average volatility of 2.00%

Our recommended stop-loss: ₹366.01 (-6.02%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 67 days ago.)

Trading Expectations (SHAWGELTIN.BO) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Narmada Gelatines Limited to open at ₹392.23, and during the day (based on 14 day Average True Range), to move between ₹376.68 and ₹402.22, which gives a possible trading interval of +/-₹12.77 (+/-3.28%) up or down from last closing price. If Narmada Gelatines Limited takes out the full calculated possible swing range there will be an estimated 6.56% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹399.50 (2.58%) than the support at ₹370.90 (4.76%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Narmada Gelatines Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Narmada Gelatines Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.718 Buy Candidate Upgraded

Predicted Opening Price for Narmada Gelatines Limited of Thursday, June 27, 2024

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