SITI Networks 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
SITI Networks Limited stock upgraded to Hold/Accumulate.
(Updated on Jun 25, 2024)
The SITI Networks Limited stock price gained 1.56% on the last trading day (Tuesday, 25th Jun 2024), rising from ₹0.640 to ₹0.650. During the last trading day the stock fluctuated 3.17% from a day low at ₹0.630 to a day high of ₹0.650. The price has risen in 4 of the last 10 days and is up by 1.56% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 765 thousand shares were bought and sold for approximately ₹497.45 thousand. 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 stockhas broken the falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is ₹0.649, a level that may pose a second chance to hit a runner. According to fan-theory ₹0.697 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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SITINET.BO Signals & Forecast
The SITI Networks 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 ₹0.647 and ₹0.639. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Friday, June 21, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for SITI Networks Limited stock
SITI Networks Limited finds support from accumulated volume at ₹0.640 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved ₹0.0200 between high and low, or 3.17%. For the last week the stock has had daily average volatility of 2.21%
Our recommended stop-loss: ₹0.629 (-3.22%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (SITINET.BO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect SITI Networks Limited to open at ₹0.643, and during the day (based on 14 day Average True Range), to move between ₹0.639 and ₹0.661, which gives a possible trading interval of +/-₹0.0110 (+/-1.70%) up or down from last closing price. If SITI Networks Limited takes out the full calculated possible swing range there will be an estimated 3.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹0.660 (1.54%) than the support at ₹0.640 (1.54%), 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 SITI Networks Limited stock A Buy?
SITI Networks 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.904 Hold/Accumulate Upgraded
Predicted Opening Price for SITI Networks Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹0.643 ( 1.03%) | ₹0.650 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SITINET.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.663 | 2.05% |
| R2 | 0.656 | 0.88% |
| R1 | 0.651 | 0.150% |
| Price | 0.650 | |
| S1 | 0.636 | -2.20% |
| S2 | 0.631 | -2.93% |
| S3 | 0.623 | -4.10% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.690 | 6.15% |
| R2 | 0.670 | 3.08% |
| R1 | 0.660 | 1.54% |
| Price | 0.650 | |
| S1 | 0.640 | -1.54% |
| S2 | 0.630 | -3.08% |
| S3 | 0.620 | -4.62% |
FAQ
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