Sita Enterprises Limited Stock Forecast
Sita Enterprises Limited stock price up 0.195% on Friday
(Updated on May 17, 2024)
The Sita Enterprises Limited stock price gained 0.195% on the last trading day (Friday, 17th May 2024), rising from ₹41.07 to ₹41.15. During the last trading day the stock fluctuated 2.75% from a day low at ₹40.05 to a day high of ₹41.15. The price has risen in 6 of the last 10 days and is up by 0.71% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 164 more shares were traded than the day before. In total, 596 shares were bought and sold for approximately ₹24.53 thousand.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Sita Enterprises Limited stock with a 90% probability to be traded between ₹34.39 and ₹42.70 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SITAENT.BO Signals & Forecast
The Sita Enterprises 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 ₹41.41. On a fall, the stock will find some support from the long-term average at approximately ₹39.86. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Sita Enterprises Limited 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. The very low volume increases the risk and reduces the other technical signals issued. 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 15, 2024, and so far it has fallen -3.83%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Sita Enterprises Limited stock
Sita Enterprises Limited finds support from accumulated volume at ₹39.97 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 ₹1.10 between high and low, or 2.75%. For the last week, the stock has had daily average volatility of 9.69%.
Our recommended stop-loss: ₹39.01 (-5.20%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (SITAENT.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Sita Enterprises Limited to open at ₹40.78, and during the day (based on 14 day Average True Range), to move between ₹38.16 and ₹44.14, which gives a possible trading interval of +/-₹2.99 (+/-7.26%) up or down from last closing price. If Sita Enterprises Limited takes out the full calculated possible swing range there will be an estimated 14.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹41.58 (1.04%) than the support at ₹39.97 (2.87%), 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 Sita Enterprises Limited stock A Buy?
Sita Enterprises 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: -0.170 Hold/Accumulate Unchanged
Predicted Opening Price for Sita Enterprises Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹40.78 ( 0.89%) | ₹41.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SITAENT.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 41.88 | 1.78 % | |
| R2 | 41.46 | 0.761 % | ||
| R1 | 41.20 | 0.130 % | ||
| Current price: | 41.15 | |||
| Support | S1 | 40.36 | -1.91 % | |
| S2 | 40.10 | -2.54 % | ||
| S3 | 39.68 | -3.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 42.79 | 3.99 % | |
| R2 | 42.66 | 3.67 % | ||
| R1 | 41.58 | 1.04 % | ||
| Current price | 41.15 | |||
| Support | S1 | 39.97 | -2.87% | |
| S2 | 39.00 | -5.22% | ||
| S3 | 36.33 | -11.71% |
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