Shiva Global Agro Industries Limited Stock Forecast

Shiva Global Agro Industries Limited stock downgraded from Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Jun 26, 2024)

SHIVAAGRO.BO Signals & Forecast

The Shiva Global Agro Industries 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 ₹49.01. On a fall, the stock will find some support from the long-term average at approximately ₹41.97. 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. 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 Thursday, June 20, 2024, and so far it has fallen -7.32%. Further fall is indicated until a new bottom pivot has been found. Shiva Global Agro 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 Shiva Global Agro Industries Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹42.33 and ₹40.22. 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, Shiva Global Agro Industries Limited finds support just below today's level at ₹42.33. If this is broken, then the next support from accumulated volume will be at ₹40.22 and ₹38.97.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 1.52%.

Our recommended stop-loss: ₹46.03 (-3.25%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 15 days ago.)

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

For the upcoming trading day on Thursday, 27th we expect Shiva Global Agro Industries Limited to open at ₹47.58, and during the day (based on 14 day Average True Range), to move between ₹45.76 and ₹49.40, which gives a possible trading interval of +/-₹1.82 (+/-3.83%) up or down from last closing price. If Shiva Global Agro Industries Limited takes out the full calculated possible swing range there will be an estimated 7.67% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹51.34 (7.90%) than the support at ₹42.33 (11.03%), 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 Shiva Global Agro Industries Limited stock A Buy?

Shiva Global Agro Industries 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: 0.172 Hold/Accumulate Downgraded

Predicted Opening Price for Shiva Global Agro Industries Limited of Thursday, June 27, 2024

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