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AI Analysis of SHREYANIND.BO
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Shreyans Industries Limited stock price up 0.541% on Friday
(Updated on May 17, 2024)

Hold candidate since May 15, 2024 Gain 1.41% PDF

The Shreyans Industries Limited stock price gained 0.541% on the last trading day (Friday, 17th May 2024), rising from ₹240.35 to ₹241.65. It has now gained 4 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 0.92% from a day low at ₹239.85 to a day high of ₹242.05. The price has been going up and down for this period, and there has been a -2.6% 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, 313 more shares were traded than the day before. In total, 1 thousand shares were bought and sold for approximately ₹351.12 thousand.

The stock lies in the middle of a 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 2.11% during the next 3 months and, with a 90% probability hold a price between ₹207.80 and ₹257.33 at the end of this 3-month period.

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SHREYANIND.BO Signals & Forecast

The Shreyans Industries Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹238.47 and ₹238.71. A breakdown below any of these levels will issue sell signals. Shreyans Industries 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. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -3.73%. 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).

Support, Risk & Stop-loss for Shreyans Industries Limited stock

Shreyans Industries Limited finds support from accumulated volume at ₹239.55 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 ₹2.20 between high and low, or 0.92%. For the last week, the stock has had daily average volatility of 3.42%.

Our recommended stop-loss: ₹229.98 (-4.83%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 11 days ago.)

Trading Expectations (SHREYANIND.BO) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Shreyans Industries Limited to open at ₹241.18, and during the day (based on 14 day Average True Range), to move between ₹231.29 and ₹252.01, which gives a possible trading interval of +/-₹10.36 (+/-4.29%) up or down from last closing price. If Shreyans Industries Limited takes out the full calculated possible swing range there will be an estimated 8.57% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹239.55 (0.87%) than the resistance at ₹246.65 (2.07%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Shreyans Industries Limited stock A Buy?

Shreyans 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.

Current score: -0.418 Hold/Accumulate Unchanged

Predicted Opening Price for Shreyans Industries Limited of Tuesday, May 21, 2024

Fair opening price May 21, 2024 Current price
₹241.18 ( 0.193%) ₹241.65

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

Trading levels for SHREYANIND.BO

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 243.38 0.717 %
R2 242.54 0.370 %
R1 242.02 0.155 %
Current price: 241.65
Support S1 240.34 -0.541 %
S2 239.82 -0.756 %
S3 238.98 -1.10 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 250.30 3.58 %
R2 247.50 2.42 %
R1 246.65 2.07 %
Current price 241.65
Support S1 239.55 -0.87%
S2 212.30 -12.15%
S3 206.55 -14.53%

FAQ

What is the symbol for Shreyans Industries Limited Stock and on which exchange is it traded?
The symbol for Shreyans Industries Limited is SHREYANIND.BO and it is traded on the XBOM (Bombay Stock Exchange).

Should I buy or sell Shreyans Industries Limited Stock?
Shreyans 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.

How to buy Shreyans Industries Limited Stock?
Shreyans Industries Limited Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Shreyans Industries Limited Stock.

What's the current price of Shreyans Industries Limited Stock?
As of the end of day on the May 17, 2024, the price of an Shreyans Industries Limited (SHREYANIND.BO) share was ₹241.65.

What is the 52-week high and low for Shreyans Industries Limited Stock?
The 52-week high for Shreyans Industries Limited Stock is ₹318.45 and the 52-week low is ₹165.05.

What is the market capitalization of Shreyans Industries Limited Stock?
As of the May 17, 2024, the market capitalization of Shreyans Industries Limited is 3.341B.

When is the next earnings date for Shreyans Industries Limited?
The upcoming earnings date for Shreyans Industries Limited is Aug 08, 2024.
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