Shukra Pharmaceuticals Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Thursday for Shukra Pharmaceuticals Limited stock after gaining 2.00%
(Updated on May 09, 2024)
The Shukra Pharmaceuticals Limited stock price gained 2.00% on the last trading day (Thursday, 9th May 2024), rising from ₹103.00 to ₹105.06. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 0.0571% from a day low at ₹105.00 to a day high of ₹105.06. The price has risen in 9 of the last 10 days and is up by 16.93% over the past 2 weeks. Volume fell on the last day by -9 thousand shares and in total, 20 thousand shares were bought and sold for approximately ₹2.12 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -30.65% during the next 3 months and, with a 90% probability hold a price between ₹20.07 and ₹196.07 at the end of this 3-month period.
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SHUKRAPHAR.BO Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Shukra Pharmaceuticals Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹226.53. On a fall, the stock will find some support from the short-term average at ₹99.12. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, March 06, 2024, and so far it has fallen -71.59%. 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 Shukra Pharmaceuticals Limited stock
Shukra Pharmaceuticals Limited finds support from accumulated volume at ₹103.00 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₹0.0600 between high and low, or 0.0571%. For the last week, the stock has had daily average volatility of 0.84%.
Shukra Pharmaceuticals Limited is oversold on RSI14 (8). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate. Since the Shukra Pharmaceuticals Limited has been rising for 7 days in a row, the risk over the next couple of days has increased.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SHUKRAPHAR.BO) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Shukra Pharmaceuticals Limited to open at ₹105.04, and during the day (based on 14 day Average True Range), to move between ₹93.36 and ₹116.76, which gives a possible trading interval of +/-₹11.70 (+/-11.14%) up or down from last closing price. If Shukra Pharmaceuticals Limited takes out the full calculated possible swing range there will be an estimated 22.27% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹103.00, some ₹2.06 (1.96%) from the current price of ₹105.06, our system finds the risk reward attractive.
Is Shukra Pharmaceuticals Limited stock A Buy?
Shukra Pharmaceuticals Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.863 Sell Candidate Unchanged
Predicted Opening Price for Shukra Pharmaceuticals Limited of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| ₹105.04 ( 0.0190%) | ₹105.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHUKRAPHAR.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 105.10 | 0.0381 % | |
| R2 | 105.08 | 0.0163 % | ||
| R1 | 105.06 | 0.0028 % | ||
| Current price: | 105.06 | |||
| Support | S1 | 105.02 | -0.0409 % | |
| S2 | 105.00 | -0.0543 % | ||
| S3 | 104.98 | -0.0761 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 105.06 | |||
| Support | S1 | 103.00 | -1.96% | |
| S2 | 99.05 | -5.72% | ||
| S3 | 91.55 | -12.86% |
FAQ
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