Smruthi Organics Limited Stock Forecast
Green day on Friday for Smruthi Organics Limited
(Updated on May 17, 2024)
The Smruthi Organics Limited stock price gained 0.715% on the last trading day (Friday, 17th May 2024), rising from ₹167.75 to ₹168.95. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.98% from a day low at ₹166.70 to a day high of ₹170.00. The price has risen in 8 of the last 10 days and is up by 5.43% over the past 2 weeks. Volume fell on the last day by -1 thousand shares and in total, 5 thousand shares were bought and sold for approximately ₹898.14 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 stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ₹172.64 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Smruthi Organics Limited stock with a 90% probability to be traded between ₹148.74 and ₹175.45 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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SMRUTHIORG.BO Signals & Forecast
The Smruthi Organics 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 ₹167.21 and ₹157.42. 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 Monday, May 06, 2024, and so far it has fallen -1.89%. 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 Smruthi Organics Limited stock
Smruthi Organics Limited finds support from accumulated volume at ₹165.15 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹3.30 between high and low, or 1.98%. For the last week the stock has had daily average volatility of 1.96%.
Our recommended stop-loss: ₹163.04 (-3.50%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (SMRUTHIORG.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Smruthi Organics Limited to open at ₹168.55, and during the day (based on 14 day Average True Range), to move between ₹162.74 and ₹175.16, which gives a possible trading interval of +/-₹6.21 (+/-3.67%) up or down from last closing price. If Smruthi Organics Limited takes out the full calculated possible swing range there will be an estimated 7.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹172.20 (1.92%) than the support at ₹165.15 (2.25%), 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 Smruthi Organics Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Smruthi Organics Limited stock to perform well in the short-term period.
Current score: 2.809 Buy Candidate Unchanged
Predicted Opening Price for Smruthi Organics Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹168.55 ( 0.237%) | ₹168.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SMRUTHIORG.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 171.85 | 1.72 % | |
| R2 | 170.59 | 0.97 % | ||
| R1 | 169.81 | 0.509 % | ||
| Current price: | 168.95 | |||
| Support | S1 | 167.29 | -0.98 % | |
| S2 | 166.51 | -1.44 % | ||
| S3 | 165.25 | -2.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 172.35 | 2.01 % | ||
| R1 | 172.20 | 1.92 % | ||
| Current price | 168.95 | |||
| Support | S1 | 165.15 | -2.25% | |
| S2 | 146.10 | -13.52% | ||
| S3 | 145.50 | -13.88% |
FAQ
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