Star Cement Limited Stock Forecast
Star Cement Limited stock downgraded to Sell Candidate
(Updated on Jun 28, 2024)
The Star Cement Limited stock price gained 0.114% on the last trading day (Friday, 28th Jun 2024), rising from ₹210.87 to ₹211.11. 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 1.34% from a day low at ₹209.83 to a day high of ₹212.65. The price has fallen in 6 of the last 10 days and is down by -3.66% for this period. Volume fell on the last day by -818 thousand shares and in total, 353 thousand shares were bought and sold for approximately ₹74.52 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 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 -8.41% during the next 3 months and, with a 90% probability hold a price between ₹181.00 and ₹215.54 at the end of this 3-month period.
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STARCEMENT.NS Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 3.71%. 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 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. The Star Cement 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 ₹212.19 and ₹217.46. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Star Cement Limited stock
Star Cement Limited finds support from accumulated volume at ₹210.87 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 ₹2.82 (1.34%) between high and low. For the last week, the stock has had daily average volatility of 2.76%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (STARCEMENT.NS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Star Cement Limited to open at ₹211.20, and during the day (based on 14 day Average True Range), to move between ₹203.76 and ₹218.46, which gives a possible trading interval of +/-₹7.35 (+/-3.48%) up or down from last closing price. If Star Cement Limited takes out the full calculated possible swing range there will be an estimated 6.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹210.87 (0.11%) than the resistance at ₹220.10 (4.26%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Star Cement Limited stock A Buy?
Star Cement Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.198 Sell Candidate Downgraded
Predicted Opening Price for Star Cement Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹211.20 ( 0.0411%) | ₹211.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STARCEMENT.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 214.02 | 1.38% |
| R2 | 212.94 | 0.87% |
| R1 | 212.27 | 0.551% |
| Price | 211.11 | |
| S1 | 210.12 | -0.469% |
| S2 | 209.45 | -0.784% |
| S3 | 208.38 | -1.29% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 237.20 | 12.36% |
| R2 | 235.95 | 11.77% |
| R1 | 220.10 | 4.26% |
| Price | 211.11 | |
| S1 | 210.87 | -0.114% |
| S2 | 210.44 | -0.317% |
| S3 | 203.55 | -3.58% |
STARCEMENT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 06, 2020 | Feb 17, 2020 | Mar 07, 2020 | ₹1.00 | 1.21% |
| 2 | May 17, 2018 | Jul 23, 2018 | Aug 30, 2018 | ₹1.00 | 0.93% |
FAQ
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