Shreyans Industries Limited Stock Forecast

Shreyans Industries Limited stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on May 15, 2024)

SHREYANIND.NS Signals & Forecast

The Shreyans Industries 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 ₹239.89. On a fall, the stock will find some support from the long-term average at approximately ₹239.33. 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. 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 Wednesday, May 08, 2024, and so far it has fallen -4.67%. 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

On the downside, the stock finds support just below today's level from accumulated volume at ₹216.35 and ₹212.95. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Shreyans Industries Limited finds support just below today's level at ₹216.35. If this is broken, then the next support from accumulated volume will be at ₹212.95 and ₹205.20.

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 ₹6.65 between high and low, or 2.82%. For the last week, the stock has had daily average volatility of 4.98%.

Our recommended stop-loss: ₹226.37 (-5.52%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (SHREYANIND.NS) For The Upcoming Trading Day Of Thursday 16th

For the upcoming trading day on Thursday, 16th we expect Shreyans Industries Limited to open at ₹239.02, and during the day (based on 14 day Average True Range), to move between ₹229.36 and ₹249.84, which gives a possible trading interval of +/-₹10.24 (+/-4.28%) up or down from last closing price. If Shreyans Industries Limited takes out the full calculated possible swing range there will be an estimated 8.55% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹243.35 (1.57%) than the support at ₹216.35 (9.70%), 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 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.213 Hold/Accumulate Upgraded

Predicted Opening Price for Shreyans Industries Limited of Thursday, May 16, 2024

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