Savita Oil Technologies Limited Stock Forecast
Savita Oil Technologies Limited stock price up 3.22% on Friday
(Updated on May 17, 2024)
The Savita Oil Technologies Limited stock price gained 3.22% on the last trading day (Friday, 17th May 2024), rising from ₹505.15 to ₹521.40. During the last trading day the stock fluctuated 6.25% from a day low at ₹503.00 to a day high of ₹534.45. The price has fallen in 7 of the last 10 days and is down by -8.47% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 194 thousand more shares were traded than the day before. In total, 364 thousand shares were bought and sold for approximately ₹189.69 million.
The stock lies in the lower part of a very 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 ₹508.10 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 37.36% during the next 3 months and, with a 90% probability hold a price between ₹697.93 and ₹892.83 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SOTL.NS Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Savita Oil Technologies 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 ₹524.91 and ₹533.19. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -12.22%. 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).
Support, Risk & Stop-loss for Savita Oil Technologies Limited stock
Savita Oil Technologies Limited finds support from accumulated volume at ₹504.80 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 ₹31.45 between high and low, or 6.25%. For the last week, the stock has had daily average volatility of 5.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SOTL.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Savita Oil Technologies Limited to open at ₹519.62, and during the day (based on 14 day Average True Range), to move between ₹494.18 and ₹548.62, which gives a possible trading interval of +/-₹27.22 (+/-5.22%) up or down from last closing price. If Savita Oil Technologies Limited takes out the full calculated possible swing range there will be an estimated 10.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹504.80 (3.18%) than the resistance at ₹542.55 (4.06%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Savita Oil Technologies Limited stock A Buy?
The Savita Oil Technologies Limited stock holds several negative signals and despite the positive trend, we believe Savita Oil Technologies Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.998 Sell Candidate Unchanged
Predicted Opening Price for Savita Oil Technologies Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹519.62 ( 0.342%) | ₹521.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SOTL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 551.07 | 5.69 % | |
| R2 | 539.05 | 3.39 % | ||
| R1 | 531.63 | 1.96 % | ||
| Current price: | 521.40 | |||
| Support | S1 | 507.60 | -2.65 % | |
| S2 | 500.18 | -4.07 % | ||
| S3 | 488.17 | -6.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 592.20 | 13.58 % | |
| R2 | 550.00 | 5.49 % | ||
| R1 | 542.55 | 4.06 % | ||
| Current price | 521.40 | |||
| Support | S1 | 504.80 | -3.18% | |
| S2 | 453.65 | -12.99% | ||
| S3 | 432.45 | -17.06% |
SOTL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 20, 2022 | Sep 20, 2022 | Sep 20, 2022 | ₹5.00 | 1.50% |
| 2 | Sep 20, 2021 | Sep 20, 2021 | Sep 20, 2021 | ₹3.00 | 0.94% |
| 3 | Mar 08, 2020 | Mar 18, 2020 | Sep 01, 2020 | ₹4.00 | 2.86% |
| 4 | May 29, 2019 | Sep 06, 2019 | Oct 16, 2019 | ₹0.500 | 0.297% |
| 5 | May 11, 2018 | Sep 19, 2018 | Oct 29, 2018 | ₹0.500 | 0.236% |
FAQ
Click here for our free guide on how to buy Savita Oil Technologies Limited Stock.
