Shreyas Shipping and Logistics Limited Stock Forecast
Red day on Friday for Shreyas Shipping and Logistics Limited
(Updated on May 03, 2024)
The Shreyas Shipping and Logistics Limited stock price fell by -1.34% on the last day (Friday, 3rd May 2024) from ₹306.30 to ₹302.20. During the last trading day the stock fluctuated 3.98% from a day low at ₹298.05 to a day high of ₹309.90. The price has risen in 6 of the last 10 days and is up by 6.05% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -103 thousand shares and in total, 30 thousand shares were bought and sold for approximately ₹9.15 million.
The stock lies in the upper part of a 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 ₹306.67 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 7.84% during the next 3 months and, with a 90% probability hold a price between ₹267.39 and ₹330.72 at the end of this 3-month period.
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SHREYAS.NS Signals & Forecast
The Shreyas Shipping and Logistics 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 ₹300.44 and ₹280.62. A breakdown below any of these levels will issue sell signals. 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 -1.34%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Shreyas Shipping and Logistics Limited stock
Shreyas Shipping and Logistics Limited finds support from accumulated volume at ₹300.40 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 ₹11.85 between high and low, or 3.98%. For the last week, the stock has had daily average volatility of 3.72%.
Our recommended stop-loss: ₹289.12 (-4.33%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (SHREYAS.NS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Shreyas Shipping and Logistics Limited to open at ₹303.38, and during the day (based on 14 day Average True Range), to move between ₹290.08 and ₹314.32, which gives a possible trading interval of +/-₹12.12 (+/-4.01%) up or down from last closing price. If Shreyas Shipping and Logistics Limited takes out the full calculated possible swing range there will be an estimated 8.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹300.40 (0.60%) than the resistance at ₹304.20 (0.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shreyas Shipping and Logistics Limited stock A Buy?
Shreyas Shipping and Logistics 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: -0.845 Hold/Accumulate Unchanged
Predicted Opening Price for Shreyas Shipping and Logistics Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹303.38 ( 0.392%) | ₹302.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHREYAS.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 315.23 | 4.31 % | |
| R2 | 310.71 | 2.81 % | ||
| R1 | 307.91 | 1.89 % | ||
| Current price: | 302.20 | |||
| Support | S1 | 298.86 | -1.11 % | |
| S2 | 296.06 | -2.03 % | ||
| S3 | 291.53 | -3.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 306.30 | 1.36 % | |
| R2 | 306.20 | 1.32 % | ||
| R1 | 304.20 | 0.662 % | ||
| Current price | 302.20 | |||
| Support | S1 | 300.40 | -0.596% | |
| S2 | 294.15 | -2.66% | ||
| S3 | 259.70 | -14.06% |
SHREYAS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 13, 2022 | Sep 13, 2022 | Sep 13, 2022 | ₹2.50 | 0.689% |
| 2 | Sep 15, 2021 | Sep 15, 2021 | Sep 15, 2021 | ₹2.00 | 0.501% |
| 3 | May 28, 2019 | Jul 11, 2019 | Jul 24, 2019 | ₹1.20 | 0.93% |
| 4 | May 25, 2018 | Jul 11, 2018 | Aug 19, 2018 | ₹1.50 | 0.426% |
| 5 | May 25, 2017 | Jul 12, 2017 | Aug 20, 2017 | ₹1.00 | 0.257% |
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