Shiva Texyarn Ltd Stock Forecast
Stronger technical forecast for Shiva Texyarn Ltd stock price after Tuesday trading.
(Updated on Apr 30, 2024)
The Shiva Texyarn Ltd stock price gained 1.23% on the last trading day (Tuesday, 30th Apr 2024), rising from ₹167.15 to ₹169.20. During the last trading day the stock fluctuated 5.00% from a day low at ₹166.15 to a day high of ₹174.45. The price has been going up and down for this period, and there has been a -1.91% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 30 thousand more shares were traded than the day before. In total, 43 thousand shares were bought and sold for approximately ₹7.26 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.91% during the next 3 months and, with a 90% probability hold a price between ₹125.17 and ₹171.43 at the end of this 3-month period.
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SHIVATEX.NS Signals & Forecast
The Shiva Texyarn Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹167.65 and ₹156.37. A breakdown below any of these levels will issue sell signals. 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 Monday, April 15, 2024, and so far it has fallen -1.91%. 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). The stock had a Golden Star Signal on Thursday, June 15, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Thursday, June 15, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Shiva Texyarn Ltd stock
Shiva Texyarn Ltd finds support from accumulated volume at ₹168.25 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 ₹8.30 between high and low, or 5.00%. For the last week, the stock has had daily average volatility of 2.99%.
Our recommended stop-loss: ₹161.95 (-4.28%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (SHIVATEX.NS) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Shiva Texyarn Ltd to open at ₹169.93, and during the day (based on 14 day Average True Range), to move between ₹162.08 and ₹176.32, which gives a possible trading interval of +/-₹7.12 (+/-4.21%) up or down from last closing price. If Shiva Texyarn Ltd takes out the full calculated possible swing range there will be an estimated 8.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹170.10 (0.53%) than the support at ₹168.25 (0.56%), 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 Texyarn Ltd stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.217 Buy Candidate Upgraded
Predicted Opening Price for Shiva Texyarn Ltd of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| ₹169.93 ( 0.433%) | ₹169.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHIVATEX.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 178.23 | 5.34 % | |
| R2 | 175.06 | 3.46 % | ||
| R1 | 173.10 | 2.31 % | ||
| Current price: | 169.20 | |||
| Support | S1 | 166.76 | -1.44 % | |
| S2 | 164.80 | -2.60 % | ||
| S3 | 161.63 | -4.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 193.45 | 14.33 % | |
| R2 | 180.80 | 6.86 % | ||
| R1 | 170.10 | 0.532 % | ||
| Current price | 169.20 | |||
| Support | S1 | 168.25 | -0.561% | |
| S2 | 167.45 | -1.03% | ||
| S3 | 142.90 | -15.54% |
SHIVATEX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 02, 2022 | Sep 02, 2022 | Sep 02, 2022 | ₹1.40 | 0.85% |
| 2 | Sep 09, 2021 | Sep 09, 2021 | Sep 09, 2021 | ₹1.20 | 0.607% |
| 3 | May 29, 2019 | Aug 08, 2019 | Sep 17, 2019 | ₹1.10 | 0.87% |
| 4 | May 28, 2018 | Sep 14, 2018 | Oct 24, 2018 | ₹1.60 | 0.761% |
| 5 | Dec 19, 2017 | Dec 19, 2017 | Dec 19, 2017 | ₹1.60 | 0.399% |
FAQ
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