Sky Industries Limited Stock Forecast
Sky Industries Limited stock price ended at ₹88.56 on Tuesday, after gaining 0.84%.
(Updated on Jun 25, 2024)
The Sky Industries Limited stock price gained 0.84% on the last trading day (Tuesday, 25th Jun 2024), rising from ₹87.82 to ₹88.56. During the last trading day the stock fluctuated 1.78% from a day low at ₹87.25 to a day high of ₹88.80. The price has fallen in 6 of the last 10 days and is down by -1.41% for this period. Volume fell on the last day by -2 thousand shares and in total, 2 thousand shares were bought and sold for approximately ₹191.47 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 stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Sky Industries Limited stock with a 90% probability to be traded between ₹88.00 and ₹96.26 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SKYIND.BO Signals & Forecast
The Sky Industries Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹87.57 and ₹88.38. A breakdown below any of these levels will issue sell signals. 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, May 24, 2024, and so far it has fallen -3.60%. 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 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. The stock had a Golden Star Signal on Wednesday, April 03, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Wednesday, April 03, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A buy signal from a double bottom formation was found on Friday, May 10, 2024 and based on theory for this formation the price should go up by 13.04% to ₹100.11 within 14 trading days since signal was issued (Friday, May 31, 2024).
Support, Risk & Stop-loss for Sky Industries Limited stock
Sky Industries Limited finds support from accumulated volume at ₹88.09 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 ₹1.55 between high and low, or 1.78%. For the last week the stock has had daily average volatility of 2.75%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SKYIND.BO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Sky Industries Limited to open at ₹88.20, and during the day (based on 14 day Average True Range), to move between ₹84.52 and ₹92.60, which gives a possible trading interval of +/-₹4.04 (+/-4.57%) up or down from last closing price. If Sky Industries Limited takes out the full calculated possible swing range there will be an estimated 9.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹88.09 (0.53%) than the resistance at ₹91.14 (2.91%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sky Industries Limited stock A Buy?
Sky Industries Limited holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.134 Sell Candidate Unchanged
Predicted Opening Price for Sky Industries Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹88.20 ( 0.403%) | ₹88.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SKYIND.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 89.75 | 1.35% |
| R2 | 89.16 | 0.679% |
| R1 | 88.80 | 0.266% |
| Price | 88.56 | |
| S1 | 87.61 | -1.07% |
| S2 | 87.25 | -1.48% |
| S3 | 86.65 | -2.15% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 91.77 | 3.62% |
| R2 | 91.60 | 3.43% |
| R1 | 91.14 | 2.91% |
| Price | 88.56 | |
| S1 | 88.09 | -0.531% |
| S2 | 87.60 | -1.08% |
| S3 | 87.01 | -1.75% |
SKYIND Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 23, 2023 | Jun 23, 2023 | Jul 29, 2023 | ₹1.00 | 1.38% |
| 2 | Jun 22, 2022 | Jun 22, 2022 | Jul 30, 2022 | ₹1.00 | 1.38% |
| 3 | Jul 22, 2021 | Jul 22, 2021 | Jul 22, 2021 | ₹1.00 | 1.30% |
| 4 | Jun 24, 2021 | Jun 24, 2021 | Jul 29, 2021 | ₹1.00 | 1.20% |
| 5 | Jun 21, 2021 | Jun 21, 2021 | Jun 21, 2021 | ₹1.00 | 1.15% |
FAQ
Click here for our free guide on how to buy Sky Industries Limited Stock.
