Sumitomo Chemical India Limited Stock Forecast
Sumitomo Chemical India Limited stock price ended at ₹480.75 on Tuesday, after losing 1.59%.
(Updated on Jun 25, 2024)
The Sumitomo Chemical India Limited stock price fell by -1.59% on the last day (Tuesday, 25th Jun 2024) from ₹488.50 to ₹480.75. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.81% from a day low at ₹479.00 to a day high of ₹492.45. The price has fallen in 6 of the last 10 days and is down by -2.95% 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 -284 thousand shares and in total, 153 thousand shares were bought and sold for approximately ₹73.59 million.
The stock has broken the weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at ₹482.09. A reaction back to this level may hold a second chance to get out before further falls.
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SUMICHEM.NS Signals & Forecast
The Sumitomo Chemical India Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹486.86. On a fall, the stock will find some support from the long-term average at approximately ₹477.29. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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, June 14, 2024, and so far it has fallen -3.38%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Sumitomo Chemical India Limited stock
Sumitomo Chemical India Limited finds support from accumulated volume at ₹473.75 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 ₹13.45 between high and low, or 2.81%. For the last week, the stock has had daily average volatility of 4.27%.
Our recommended stop-loss: ₹458.81 (-4.56%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (SUMICHEM.NS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Sumitomo Chemical India Limited to open at ₹484.07, and during the day (based on 14 day Average True Range), to move between ₹456.56 and ₹504.94, which gives a possible trading interval of +/-₹24.19 (+/-5.03%) up or down from last closing price. If Sumitomo Chemical India Limited takes out the full calculated possible swing range there will be an estimated 10.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹473.75 (1.46%) than the resistance at ₹489.55 (1.83%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sumitomo Chemical 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 Sumitomo Chemical India Limited stock to perform well in the short-term.
Current score: 1.625 Buy Candidate Unchanged
Predicted Opening Price for Sumitomo Chemical India Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹484.07 ( 0.690%) | ₹480.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SUMICHEM.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 497.52 | 3.49% |
| R2 | 492.38 | 2.42% |
| R1 | 489.20 | 1.76% |
| Price | 480.75 | |
| S1 | 478.93 | -0.379% |
| S2 | 475.75 | -1.04% |
| S3 | 470.62 | -2.11% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 496.35 | 3.24% |
| R2 | 492.50 | 2.44% |
| R1 | 489.55 | 1.83% |
| Price | 480.75 | |
| S1 | 473.75 | -1.46% |
| S2 | 464.20 | -3.44% |
| S3 | 449.00 | -6.60% |
SUMICHEM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 14, 2024 | Feb 14, 2024 | Feb 14, 2024 | ₹5.00 | 1.33% |
| 2 | Jul 21, 2023 | Jul 21, 2023 | Aug 27, 2023 | ₹1.20 | 0.296% |
| 3 | Jul 21, 2022 | Jul 21, 2022 | Aug 28, 2022 | ₹1.00 | 0.207% |
| 4 | Jul 22, 2021 | Jul 22, 2021 | Aug 29, 2021 | ₹0.80 | 0.200% |
| 5 | Jun 05, 2020 | Sep 02, 2020 | Oct 10, 2020 | ₹0.550 | 0.194% |
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