Shiva Mills Limited Stock Forecast
Green day on Friday for Shiva Mills Limited
(Updated on May 17, 2024)
The Shiva Mills Limited stock price gained 1.33% on the last trading day (Friday, 17th May 2024), rising from ₹97.45 to ₹98.75. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.57% from a day low at ₹97.30 to a day high of ₹101.75. The price has fallen in 6 of the last 10 days but is still up by 0.15% over the past 2 weeks. Volume fell on the last day by -23 thousand shares and in total, 30 thousand shares were bought and sold for approximately ₹2.93 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and weak 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 9.18% during the next 3 months and, with a 90% probability hold a price between ₹96.23 and ₹123.34 at the end of this 3-month period.
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SHIVAMILLS.NS Signals & Forecast
The Shiva Mills 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 ₹99.18. On a fall, the stock will find some support from the long-term average at approximately ₹95.33. 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. A buy signal was issued from a pivot bottom point on Tuesday, May 14, 2024, and so far it has risen 2.28%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A sell signal from a double top formation was found on Wednesday, May 08, 2024 with a target of ₹100.21. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Shiva Mills Limited stock
Shiva Mills Limited finds support from accumulated volume at ₹96.55 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 ₹4.45 between high and low, or 4.57%. For the last week, the stock has had daily average volatility of 5.36%.
Our recommended stop-loss: ₹93.87 (-4.95%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (SHIVAMILLS.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Shiva Mills Limited to open at ₹99.27, and during the day (based on 14 day Average True Range), to move between ₹91.68 and ₹105.82, which gives a possible trading interval of +/-₹7.07 (+/-7.16%) up or down from last closing price. If Shiva Mills Limited takes out the full calculated possible swing range there will be an estimated 14.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹96.55 (2.23%) than the resistance at ₹104.45 (5.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Shiva Mills Limited will release earnings BMO on Friday, May 24, 2024. We will update the financials statements for Shiva Mills Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.75% in the first trading day after earnings release.
Is Shiva Mills 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 Shiva Mills Limited stock to perform well in the short-term.
Current score: 3.504 Buy Candidate Unchanged
Predicted Opening Price for Shiva Mills Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹99.27 ( 0.523%) | ₹98.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHIVAMILLS.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 103.72 | 5.03 % | |
| R2 | 102.02 | 3.31 % | ||
| R1 | 100.97 | 2.24 % | ||
| Current price: | 98.75 | |||
| Support | S1 | 97.57 | -1.20 % | |
| S2 | 96.52 | -2.26 % | ||
| S3 | 94.82 | -3.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 110.75 | 12.15 % | |
| R2 | 110.70 | 12.10 % | ||
| R1 | 104.45 | 5.77 % | ||
| Current price | 98.75 | |||
| Support | S1 | 96.55 | -2.23% | |
| S2 | 96.20 | -2.58% | ||
| S3 | 92.10 | -6.73% |
SHIVAMILLS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 17, 2022 | Aug 17, 2022 | Aug 17, 2022 | ₹1.20 | 1.17% |
| 2 | Sep 09, 2021 | Sep 09, 2021 | Sep 09, 2021 | ₹1.00 | 1.13% |
| 3 | May 29, 2019 | Aug 08, 2019 | Sep 17, 2019 | ₹1.40 | 3.94% |
| 4 | May 28, 2018 | Sep 14, 2018 | Oct 15, 2018 | ₹1.40 | 2.76% |
FAQ
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