Shristi Infrastructure Development Corp Stock Forecast
Shristi Infrastructure Development Corp stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)
The Shristi Infrastructure Development Corp stock price gained 2.81% on the last trading day (Friday, 17th May 2024), rising from ₹46.68 to ₹47.99. During the last trading day the stock fluctuated 2.42% from a day low at ₹47.84 to a day high of ₹49.00. The price has fallen in 5 of the last 10 days and is down by -6.32% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 286 more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately ₹101.93 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹46.80 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.27% during the next 3 months and, with a 90% probability hold a price between ₹53.01 and ₹67.00 at the end of this 3-month period.
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SHRISTI.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 16, 2024, and so far it has risen 2.81%. Further rise is indicated until a new top pivot has been found. Shristi Infrastructure Development Corp 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. The Shristi Infrastructure Development Corp stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹48.90 and ₹48.86. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Shristi Infrastructure Development Corp stock
Shristi Infrastructure Development Corp finds support from accumulated volume at ₹46.70 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 ₹1.16 between high and low, or 2.42%. For the last week, the stock has had daily average volatility of 7.58%.
Our recommended stop-loss: ₹45.59 (-4.99%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (SHRISTI.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Shristi Infrastructure Development Corporation Limited to open at ₹48.28, and during the day (based on 14 day Average True Range), to move between ₹44.40 and ₹51.58, which gives a possible trading interval of +/-₹3.59 (+/-7.49%) up or down from last closing price. If Shristi Infrastructure Development Corporation Limited takes out the full calculated possible swing range there will be an estimated 14.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹49.06 (2.23%) than the support at ₹46.70 (2.69%), 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 Shristi Infrastructure Development Corporation Limited stock A Buy?
Shristi Infrastructure Development Corp holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.015 Hold/Accumulate Upgraded
Predicted Opening Price for Shristi Infrastructure Development Corporation Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹48.28 ( 0.597%) | ₹47.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHRISTI.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 49.44 | 3.01 % | |
| R2 | 48.99 | 2.09 % | ||
| R1 | 48.72 | 1.52 % | ||
| Current price: | 47.99 | |||
| Support | S1 | 47.83 | -0.326 % | |
| S2 | 47.56 | -0.90 % | ||
| S3 | 47.12 | -1.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 53.50 | 11.48 % | |
| R2 | 51.71 | 7.75 % | ||
| R1 | 49.06 | 2.23 % | ||
| Current price | 47.99 | |||
| Support | S1 | 46.70 | -2.69% | |
| S2 | 45.76 | -4.65% | ||
| S3 | 44.50 | -7.27% |
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