SJVN Limited Stock Forecast
Evaluation of SJVN Limited stock downgraded after the last trading session.
(Updated on May 06, 2024)
The SJVN Limited stock price fell by -2.00% on the last day (Monday, 6th May 2024) from ₹135.15 to ₹132.45. During the last trading day the stock fluctuated 4.90% from a day low at ₹130.50 to a day high of ₹136.90. The price has risen in 6 of the last 10 days and is up by 2.95% over the past 2 weeks. 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 -847 thousand shares and in total, 18 million shares were bought and sold for approximately ₹2.44 billion.
The stock lies in the upper part of a very wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ₹137.51 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 8.27% during the next 3 months and, with a 90% probability hold a price between ₹116.32 and ₹148.88 at the end of this 3-month period.
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SJVN.NS Signals & Forecast
The SJVN 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 ₹135.04. On a fall, the stock will find some support from the long-term average at approximately ₹128.58. 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. 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 Thursday, May 02, 2024, and so far it has fallen -3.43%. 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). 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
On the downside, the stock finds support just below today's level from accumulated volume at ₹124.60 and ₹120.55. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, SJVN Limited finds support just below today's level at ₹124.60. If this is broken, then the next support from accumulated volume will be at ₹120.55 and ₹108.15.
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 ₹6.40 between high and low, or 4.90%. For the last week, the stock has had daily average volatility of 3.54%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SJVN.NS) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect SJVN Limited to open at ₹133.28, and during the day (based on 14 day Average True Range), to move between ₹126.97 and ₹137.93, which gives a possible trading interval of +/-₹5.48 (+/-4.13%) up or down from last closing price. If SJVN Limited takes out the full calculated possible swing range there will be an estimated 8.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹124.60 (5.93%) than the resistance at ₹140.55 (6.12%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SJVN Limited stock A Buy?
SJVN Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -1.826 Sell Candidate Downgraded
Predicted Opening Price for SJVN Limited of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ₹133.28 ( 0.629%) | ₹132.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SJVN.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 139.68 | 5.46 % | |
| R2 | 137.24 | 3.62 % | ||
| R1 | 135.73 | 2.47 % | ||
| Current price: | 132.45 | |||
| Support | S1 | 130.84 | -1.22 % | |
| S2 | 129.33 | -2.36 % | ||
| S3 | 126.88 | -4.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 150.65 | 13.74 % | |
| R2 | 146.90 | 10.91 % | ||
| R1 | 140.55 | 6.12 % | ||
| Current price | 132.45 | |||
| Support | S1 | 124.60 | -5.93% | |
| S2 | 120.55 | -8.98% | ||
| S3 | 108.15 | -18.35% |
SJVN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Feb 21, 2024 | Mar 10, 2024 | ₹1.15 | 0.94% |
| 2 | Feb 17, 2023 | Feb 17, 2023 | Feb 17, 2023 | ₹1.15 | 3.61% |
| 3 | Sep 21, 2022 | Sep 21, 2022 | Sep 21, 2022 | ₹0.550 | 1.72% |
| 4 | Feb 21, 2022 | Feb 21, 2022 | Feb 21, 2022 | ₹1.15 | 3.97% |
| 5 | Sep 21, 2021 | Sep 21, 2021 | Sep 21, 2021 | ₹0.400 | 1.48% |
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