Sharda Ispat Limited Stock Forecast
Sharda Ispat Limited stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on Jun 14, 2024)
The Sharda Ispat Limited stock price gained 4.98% on the last trading day (Friday, 14th Jun 2024), rising from ₹327.25 to ₹343.55. During the last trading day the stock fluctuated 6.05% from a day low at ₹333.80 to a day high of ₹354.00. The price has risen in 6 of the last 10 days and is up by 5.08% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 896 more shares were traded than the day before. In total, 3 thousand shares were bought and sold for approximately ₹883.95 thousand.
The stock lies in the upper part of a very wide and weak rising 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 ₹352.22 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 4.13% during the next 3 months and, with a 90% probability hold a price between ₹283.94 and ₹366.78 at the end of this 3-month period.
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SHRDAIS.BO Signals & Forecast
The Sharda Ispat Limited 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 ₹323.29 and ₹301.56. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 20.25%. Further rise is indicated until a new top pivot has been found. Sharda Ispat Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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).
Support, Risk & Stop-loss for Sharda Ispat Limited stock
Sharda Ispat Limited finds support from accumulated volume at ₹326.80 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹20.20 between high and low, or 6.05%. For the last week, the stock has had daily average volatility of 7.95%.
Our recommended stop-loss: ₹330.43 (-3.82%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (SHRDAIS.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Sharda Ispat Limited to open at ₹343.78, and during the day (based on 14 day Average True Range), to move between ₹319.19 and ₹367.91, which gives a possible trading interval of +/-₹24.36 (+/-7.09%) up or down from last closing price. If Sharda Ispat Limited takes out the full calculated possible swing range there will be an estimated 14.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹348.60 (1.47%) than the support at ₹326.80 (4.88%), 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 Sharda Ispat Limited stock A Buy?
Sharda Ispat Limited holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.599 Strong Buy Candidate Upgraded
Predicted Opening Price for Sharda Ispat Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹343.78 ( 0.0679%) | ₹343.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHRDAIS.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 363.98 | 5.95% |
| R2 | 356.27 | 3.70% |
| R1 | 351.50 | 2.31% |
| Price | 343.55 | |
| S1 | 336.07 | -2.18% |
| S2 | 331.30 | -3.57% |
| S3 | 323.58 | -5.81% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 348.60 | 1.47% |
| Price | 343.55 | |
| S1 | 326.80 | -4.88% |
| S2 | 317.45 | -7.60% |
| S3 | 297.10 | -13.52% |
FAQ
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