Sharat Industries Limited Stock Forecast
Sharat Industries Limited stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Apr 26, 2024)
The Sharat Industries Limited stock price fell by -0.110% on the last day (Friday, 26th Apr 2024) from ₹45.56 to ₹45.51. During the last trading day the stock fluctuated 6.44% from a day low at ₹45.00 to a day high of ₹47.90. The price has fallen in 7 of the last 10 days and is down by -5.42% for this period. Volume has increased on the last day by 4 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, 10 thousand shares were bought and sold for approximately ₹438.26 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹47.51 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -27.08% during the next 3 months and, with a 90% probability hold a price between ₹27.01 and ₹34.64 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SHINDL.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 7.82%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Sharat Industries 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 ₹45.73 and ₹46.44. A break-up above any of these levels will issue buy signals. Sharat Industries Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Sharat Industries Limited stock
Sharat Industries Limited finds support from accumulated volume at ₹45.45 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 ₹2.90 between high and low, or 6.44%. For the last week, the stock has had daily average volatility of 4.98%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SHINDL.BO) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Sharat Industries Limited to open at ₹46.14, and during the day (based on 14 day Average True Range), to move between ₹43.13 and ₹47.89, which gives a possible trading interval of +/-₹2.38 (+/-5.22%) up or down from last closing price. If Sharat Industries Limited takes out the full calculated possible swing range there will be an estimated 10.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹45.45 (0.13%) than the resistance at ₹53.01 (16.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sharat Industries Limited stock A Buy?
Sharat Industries Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.455 Sell Candidate Downgraded
Predicted Opening Price for Sharat Industries Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ₹46.14 ( 1.38%) | ₹45.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHINDL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 49.04 | 7.75 % | |
| R2 | 47.93 | 5.32 % | ||
| R1 | 47.24 | 3.81 % | ||
| Current price: | 45.51 | |||
| Support | S1 | 45.03 | -1.06 % | |
| S2 | 44.34 | -2.56 % | ||
| S3 | 43.24 | -5.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 56.63 | 24.43 % | |
| R2 | 54.80 | 20.41 % | ||
| R1 | 53.01 | 16.48 % | ||
| Current price | 45.51 | |||
| Support | S1 | 45.45 | -0.132% | |
| S2 | 43.21 | -5.05% | ||
| S3 | 42.21 | -7.25% |
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