SJVN Limited Stock Forecast
SJVN Limited stock upgraded to Hold/Accumulate.
(Updated on Jun 24, 2024)
The SJVN Limited stock price fell by -0.493% on the last day (Monday, 24th Jun 2024) from ₹131.90 to ₹131.25. During the last trading day the stock fluctuated 1.49% from a day low at ₹130.70 to a day high of ₹132.65. The price has fallen in 6 of the last 10 days and is down by -1.46% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -154 thousand shares and in total, 441 thousand shares were bought and sold for approximately ₹57.87 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.45% during the next 3 months and, with a 90% probability hold a price between ₹132.01 and ₹159.56 at the end of this 3-month period.
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SJVN.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 6.36%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The SJVN Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹132.79 and ₹134.01. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for SJVN Limited stock
SJVN Limited finds support from accumulated volume at ₹126.30 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 ₹1.95 between high and low, or 1.49%. For the last week, the stock has had daily average volatility of 2.15%.
Our recommended stop-loss: ₹123.48 (-5.92%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (SJVN.BO) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect SJVN Limited to open at ₹131.53, and during the day (based on 14 day Average True Range), to move between ₹125.35 and ₹137.15, which gives a possible trading interval of +/-₹5.90 (+/-4.49%) up or down from last closing price. If SJVN Limited takes out the full calculated possible swing range there will be an estimated 8.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹132.45 (0.91%) than the support at ₹126.30 (3.77%), 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 SJVN Limited stock A Buy?
SJVN Limited 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: -0.360 Hold/Accumulate Upgraded
Predicted Opening Price for SJVN Limited of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| ₹131.53 ( 0.216%) | ₹131.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SJVN.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 133.48 | 1.70% |
| R2 | 132.74 | 1.13% |
| R1 | 132.28 | 0.783% |
| Price | 131.25 | |
| S1 | 130.79 | -0.352% |
| S2 | 130.33 | -0.702% |
| S3 | 129.58 | -1.27% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 148.15 | 12.88% |
| R2 | 137.05 | 4.42% |
| R1 | 132.45 | 0.91% |
| Price | 131.25 | |
| S1 | 126.30 | -3.77% |
| S2 | 123.40 | -5.98% |
| S3 | 122.85 | -6.40% |
SJVN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Feb 21, 2024 | Feb 21, 2024 | ₹1.15 | 0.95% |
| 2 | Sep 21, 2023 | Sep 21, 2023 | Oct 28, 2023 | ₹0.620 | 0.89% |
| 3 | Feb 17, 2023 | Feb 17, 2023 | Mar 08, 2023 | ₹1.15 | 3.44% |
| 4 | Feb 21, 2018 | Feb 21, 2018 | Mar 11, 2018 | ₹1.90 | 5.44% |
| 5 | Sep 14, 2017 | Sep 14, 2017 | Sep 27, 2017 | ₹0.500 | 1.57% |
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