Shelter Pharma Limited Stock Forecast
Shelter Pharma Limited stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
The Shelter Pharma Limited stock price fell by -0.95% on the last day (Friday, 28th Jun 2024) from ₹49.30 to ₹48.83. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 6.63% from a day low at ₹48.25 to a day high of ₹51.45. The price has fallen in 7 of the last 10 days and is down by -2.53% for this period.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -14.36% during the next 3 months and, with a 90% probability hold a price between ₹38.83 and ₹50.71 at the end of this 3-month period.
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SHELTER.BO Signals & Forecast
There are mixed signals in the stock today. The Shelter Pharma Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹50.20 and ₹53.13. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 1.41%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Shelter Pharma Limited stock
Shelter Pharma Limited finds support from accumulated volume at ₹48.15 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 controlled movements and therefore the general risk is considered 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 ₹3.20 between high and low, or 6.63%. For the last week the stock has had daily average volatility of 5.11%.
Our recommended stop-loss: ₹45.99 (-5.81%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 38 days ago.)
Trading Expectations (SHELTER.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Shelter Pharma Limited to open at ₹49.51, and during the day (based on 14 day Average True Range), to move between ₹46.24 and ₹51.42, which gives a possible trading interval of +/-₹2.59 (+/-5.31%) up or down from last closing price. If Shelter Pharma Limited takes out the full calculated possible swing range there will be an estimated 10.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹48.15 (1.39%) than the resistance at ₹52.68 (7.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shelter Pharma Limited stock A Buy?
Shelter Pharma 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.204 Hold/Accumulate Upgraded
Predicted Opening Price for Shelter Pharma Limited of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
₹49.51 ( 1.39%) | ₹48.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHELTER.BO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 52.71 | 7.95% |
R2 | 51.49 | 5.44% |
R1 | 50.73 | 3.90% |
Price | 48.83 | |
S1 | 48.29 | -1.11% |
S2 | 47.53 | -2.66% |
S3 | 46.31 | -5.16% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 60.30 | 23.49% |
R2 | 54.00 | 10.59% |
R1 | 52.68 | 7.88% |
Price | 48.83 | |
S1 | 48.15 | -1.39% |
S2 | 0 | - |
S3 | 0 | - |
FAQ
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