Shilchar Technologies Limited Stock Forecast
High volatility in Shilchar Technologies Limited stock price on Wednesday which ended trading at ₹5,461.00
(Updated on May 08, 2024)
The Shilchar Technologies Limited stock price gained 3.73% on the last trading day (Wednesday, 8th May 2024), rising from ₹5,264.85 to ₹5,461.00. During the last trading day the stock fluctuated 10.27% from a day low at ₹5,013.00 to a day high of ₹5,528.05. The price has fallen in 6 of the last 10 days and is down by -15.3% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 thousand more shares were traded than the day before. In total, 37 thousand shares were bought and sold for approximately ₹200.18 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 50.88% during the next 3 months and, with a 90% probability hold a price between ₹7,257.63 and ₹10,051.48 at the end of this 3-month period.
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SHILCTECH.BO Signals & Forecast
The Shilchar Technologies 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 ₹5,873.46. On a fall, the stock will find some support from the long-term average at approximately ₹4,891.13. 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 Tuesday, April 30, 2024, and so far it has fallen -15.48%. 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 Shilchar Technologies Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹5,115.05 and ₹4,871.50. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Shilchar Technologies Limited finds support just below today's level at ₹5,115.05. If this is broken, then the next support from accumulated volume will be at ₹4,871.50 and ₹4,219.05.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₹515.05 between high and low, or 10.27%. For the last week, the stock has had daily average volatility of 4.77%.
Our recommended stop-loss: ₹5,134.43 (-5.98%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (SHILCTECH.BO) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Shilchar Technologies Limited to open at ₹5,334.02, and during the day (based on 14 day Average True Range), to move between ₹5,092.48 and ₹5,829.52, which gives a possible trading interval of +/-₹368.52 (+/-6.75%) up or down from last closing price. If Shilchar Technologies Limited takes out the full calculated possible swing range there will be an estimated 13.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹5,541.90 (1.48%) than the support at ₹5,115.05 (6.33%), 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 Shilchar Technologies 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 Shilchar Technologies Limited stock to perform well in the short-term.
Current score: 2.525 Buy Candidate Unchanged
Predicted Opening Price for Shilchar Technologies Limited of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| ₹5,334.02 ( 2.33%) | ₹5,461.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHILCTECH.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5,849.07 | 7.11 % | |
| R2 | 5,652.32 | 3.50 % | ||
| R1 | 5,530.77 | 1.28 % | ||
| Current price: | 5,461.00 | |||
| Support | S1 | 5,137.27 | -5.93 % | |
| S2 | 5,015.72 | -8.15 % | ||
| S3 | 4,818.97 | -11.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5,847.80 | 7.08 % | |
| R2 | 5,569.35 | 1.98 % | ||
| R1 | 5,541.90 | 1.48 % | ||
| Current price | 5,461.00 | |||
| Support | S1 | 5,115.05 | -6.33% | |
| S2 | 4,871.50 | -10.79% | ||
| S3 | 4,219.05 | -22.74% |
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