Sika Interplant Systems Limited Stock Forecast

Sika Interplant Systems Limited stock downgraded to Buy Candidate
(Updated on May 24, 2024)

SIKA.BO Signals & Forecast

Mostly positive signals in the chart today. The Sika Interplant Systems 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 ₹2,520.53 and ₹2,039.61. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 19, 2024, and so far it has risen 114.35%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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.

Support, Risk & Stop-loss for Sika Interplant Systems Limited stock

Sika Interplant Systems Limited finds support from accumulated volume at ₹2,629.95 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 ₹94.00 between high and low, or 3.54%. For the last week, the stock has had daily average volatility of 6.17%.

The Sika Interplant Systems Limited stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: ₹2,597.96 (-2.90%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 87 days ago.)

Trading Expectations (SIKA.BO) For The Upcoming Trading Day Of Monday 27th

For the upcoming trading day on Monday, 27th we expect Sika Interplant Systems Limited to open at ₹2,693.18, and during the day (based on 14 day Average True Range), to move between ₹2,529.17 and ₹2,821.93, which gives a possible trading interval of +/-₹146.38 (+/-5.47%) up or down from last closing price. If Sika Interplant Systems Limited takes out the full calculated possible swing range there will be an estimated 10.94% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ₹2,629.95, some ₹45.60 (1.70%) from the current price of ₹2,675.55, our system finds the risk reward attractive.

Is Sika Interplant Systems Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Sika Interplant Systems Limited stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 4.298 Buy Candidate Downgraded

Predicted Opening Price for Sika Interplant Systems Limited of Monday, May 27, 2024

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