Shivam Autotech Limited Stock Forecast

Shivam Autotech Limited stock price ended at ₹42.82 on Friday, after losing 1.88%.
(Updated on Apr 19, 2024)

SHIVAMAUTO.BO Signals & Forecast

The Shivam Autotech 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 ₹43.08. On a fall, the stock will find some support from the long-term average at approximately ₹41.01. 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 Friday, April 05, 2024, and so far it has fallen -3.82%. Further fall is indicated until a new bottom pivot has been found. 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.

Support, Risk & Stop-loss for Shivam Autotech Limited stock

Shivam Autotech Limited finds support from accumulated volume at ₹42.64 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved ₹0.99 between high and low, or 2.31%. For the last week the stock has had daily average volatility of 6.21%.

Our recommended stop-loss: ₹40.83 (-4.65%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 7 days ago.)

Trading Expectations (SHIVAMAUTO.BO) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Shivam Autotech Limited to open at ₹43.15, and during the day (based on 14 day Average True Range), to move between ₹40.48 and ₹45.16, which gives a possible trading interval of +/-₹2.34 (+/-5.47%) up or down from last closing price. If Shivam Autotech Limited takes out the full calculated possible swing range there will be an estimated 10.94% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹42.64 (0.42%) than the resistance at ₹44.34 (3.55%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Shivam Autotech Limited stock A Buy?

Shivam Autotech 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.

Current score: -0.218 Hold/Accumulate Unchanged

Predicted Opening Price for Shivam Autotech Limited of Monday, April 22, 2024

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