Spandana Sphoorty Financial Li Stock Forecast
Stronger technical forecast for Spandana Sphoorty Financial Li stock price after Friday trading.
(Updated on Jun 14, 2024)
The Spandana Sphoorty Financial Li stock price gained 0.392% on the last trading day (Friday, 14th Jun 2024), rising from ₹777.65 to ₹780.70. 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 1.92% from a day low at ₹779.85 to a day high of ₹794.80. The price has risen in 7 of the last 10 days and is up by 3.14% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 thousand more shares were traded than the day before. In total, 41 thousand shares were bought and sold for approximately ₹32.39 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -12.51% during the next 3 months and, with a 90% probability hold a price between ₹616.25 and ₹723.41 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SPANDANA.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 8.33%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Spandana Sphoorty Financial Li stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹797.26. On a fall, the stock will find some support from the short-term average at ₹775.44. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Spandana Sphoorty Financial Li stock
Spandana Sphoorty Financial Li finds support from accumulated volume at ₹777.65 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹14.95 (1.92%) between high and low. For the last week, the stock has had daily average volatility of 2.85%.
Our recommended stop-loss: ₹749.78 (-3.96%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 44 days ago.)
Trading Expectations (SPANDANA.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Spandana Sphoorty Financial Li to open at ₹785.12, and during the day (based on 14 day Average True Range), to move between ₹749.68 and ₹811.72, which gives a possible trading interval of +/-₹31.02 (+/-3.97%) up or down from last closing price. If Spandana Sphoorty Financial Li takes out the full calculated possible swing range there will be an estimated 7.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹777.65 (0.39%) than the resistance at ₹842.40 (7.90%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Spandana Sphoorty Financial Li stock A Buy?
Spandana Sphoorty Financial Li holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.903 Hold/Accumulate Upgraded
Predicted Opening Price for Spandana Sphoorty Financial Li of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹785.12 ( 0.566%) | ₹780.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPANDANA.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 800.07 | 2.48% |
| R2 | 794.36 | 1.75% |
| R1 | 790.83 | 1.30% |
| Price | 780.70 | |
| S1 | 779.41 | -0.166% |
| S2 | 775.88 | -0.618% |
| S3 | 770.17 | -1.35% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 896.35 | 14.81% |
| R2 | 870.90 | 11.55% |
| R1 | 842.40 | 7.90% |
| Price | 780.70 | |
| S1 | 777.65 | -0.391% |
| S2 | 770.55 | -1.30% |
| S3 | 768.50 | -1.56% |
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