Solar Industries India 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
Green day on Monday for Solar Industries India Limited
(Updated on May 06, 2024)
The Solar Industries India Limited stock price gained 0.294% on the last trading day (Monday, 6th May 2024), rising from ₹8,999.90 to ₹9,026.40. During the last trading day the stock fluctuated 3.40% from a day low at ₹8,800.00 to a day high of ₹9,098.85. The price has risen in 7 of the last 10 days and is up by 5.97% over the past 2 weeks. Volume fell on the last day by -13 thousand shares and in total, 96 thousand shares were bought and sold for approximately ₹869.12 million. 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 lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹8,684.18 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 33.88% during the next 3 months and, with a 90% probability hold a price between ₹11,626.29 and ₹14,183.58 at the end of this 3-month period.
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SOLARINDS.NS Signals & Forecast
The Solar Industries India 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 ₹8,923.93 and ₹8,746.40. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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, March 22, 2024, and so far it has fallen -3.17%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Solar Industries India Limited stock
Solar Industries India Limited finds support from accumulated volume at ₹8,855.50 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹298.85 between high and low, or 3.40%. For the last week the stock has had daily average volatility of 1.88%.
Our recommended stop-loss: ₹8,706.20 (-3.55%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 28 days ago.)
Trading Expectations (SOLARINDS.NS) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Solar Industries India Limited to open at ₹8,975.08, and during the day (based on 14 day Average True Range), to move between ₹8,780.32 and ₹9,272.48, which gives a possible trading interval of +/-₹246.08 (+/-2.73%) up or down from last closing price. If Solar Industries India Limited takes out the full calculated possible swing range there will be an estimated 5.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹8,855.50 (1.89%) than the resistance at ₹9,300.95 (3.04%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Solar Industries India Limited will release earnings BMO on Wednesday, May 08, 2024. We will update the financials statements for Solar Industries India Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.10% in the first trading day after earnings release.
Is Solar Industries India Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Solar Industries India Limited stock to perform well in the short-term.
Current score: 4.342 Buy Candidate Unchanged
Predicted Opening Price for Solar Industries India Limited of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ₹8,975.08 ( 0.569%) | ₹9,026.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SOLARINDS.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9,273.93 | 2.74 % | |
| R2 | 9,159.77 | 1.48 % | ||
| R1 | 9,089.24 | 0.696 % | ||
| Current price: | 9,026.40 | |||
| Support | S1 | 8,860.92 | -1.83 % | |
| S2 | 8,790.39 | -2.61 % | ||
| S3 | 8,676.23 | -3.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 9,322.00 | 3.27 % | ||
| R1 | 9,300.95 | 3.04 % | ||
| Current price | 9,026.40 | |||
| Support | S1 | 8,855.50 | -1.89% | |
| S2 | 8,607.10 | -4.65% | ||
| S3 | 8,544.15 | -5.34% |
SOLARINDS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 09, 2023 | Jun 09, 2023 | Jun 09, 2023 | ₹8.00 | 0.206% |
| 2 | Jun 08, 2023 | Jun 08, 2023 | Jun 08, 2023 | ₹8.00 | 0.206% |
| 3 | May 27, 2022 | May 27, 2022 | May 27, 2022 | ₹7.50 | 0.292% |
| 4 | Aug 18, 2021 | Aug 18, 2021 | Aug 18, 2021 | ₹6.00 | 0.354% |
| 5 | Sep 03, 2020 | Sep 03, 2020 | Sep 03, 2020 | ₹6.00 | 0.555% |
FAQ
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