Sun Pharma Advanced Research Co Ltd 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
Red day on Friday for Sun Pharma Advanced Research Co Ltd stock after losing 1.07%
(Updated on May 17, 2024)
The Sun Pharma Advanced Research Co Ltd stock price fell by -1.07% on the last day (Friday, 17th May 2024) from ₹218.65 to ₹216.30. During the last trading day the stock fluctuated 2.04% from a day low at ₹215.60 to a day high of ₹220.00. The price has fallen in 6 of the last 10 days and is down by -4.08% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -41 thousand shares and in total, 458 thousand shares were bought and sold for approximately ₹99.13 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹187.10 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -31.36% during the next 3 months and, with a 90% probability hold a price between ₹128.42 and ₹260.78 at the end of this 3-month period.
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SPARC.NS Signals & Forecast
There are mixed signals in the stock today. The Sun Pharma Advanced Research Co Ltd 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 ₹216.78 and ₹307.78. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has risen 2.88%. 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).
Support, Risk & Stop-loss for Sun Pharma Advanced Research Co Ltd stock
Sun Pharma Advanced Research Co Ltd finds support from accumulated volume at ₹214.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₹4.40 between high and low, or 2.04%. For the last week, the stock has had daily average volatility of 3.23%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SPARC.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Sun Pharma Advanced Research Company Limited to open at ₹217.30, and during the day (based on 14 day Average True Range), to move between ₹203.02 and ₹229.58, which gives a possible trading interval of +/-₹13.28 (+/-6.14%) up or down from last closing price. If Sun Pharma Advanced Research Company Limited takes out the full calculated possible swing range there will be an estimated 12.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹214.25 (0.95%) than the resistance at ₹225.50 (4.25%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sun Pharma Advanced Research Company Limited stock A Buy?
Sun Pharma Advanced Research Co Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.216 Sell Candidate Unchanged
Predicted Opening Price for Sun Pharma Advanced Research Company Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹217.30 ( 0.462%) | ₹216.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPARC.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 221.70 | 2.50 % | |
| R2 | 220.02 | 1.72 % | ||
| R1 | 218.98 | 1.24 % | ||
| Current price: | 216.30 | |||
| Support | S1 | 215.62 | -0.315 % | |
| S2 | 214.58 | -0.795 % | ||
| S3 | 212.90 | -1.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 244.50 | 13.04 % | |
| R2 | 237.35 | 9.73 % | ||
| R1 | 225.50 | 4.25 % | ||
| Current price | 216.30 | |||
| Support | S1 | 214.25 | -0.95% | |
| S2 | 212.15 | -1.92% | ||
| S3 | 210.25 | -2.80% |
FAQ
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