Sumitomo Chemical India Limited Stock Forecast
Sumitomo Chemical India Limited stock price ended at ₹480.00 on Friday, after gaining 0.418%.
(Updated on Jun 28, 2024)
The Sumitomo Chemical India Limited stock price gained 0.418% on the last trading day (Friday, 28th Jun 2024), rising from ₹478.00 to ₹480.00. During the last trading day the stock fluctuated 1.39% from a day low at ₹476.50 to a day high of ₹483.10. The price has fallen in 6 of the last 10 days and is down by -1.82% for this period. Volume fell on the last day by -55 thousand shares and in total, 228 thousand shares were bought and sold for approximately ₹109.26 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 lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹478.88 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 6.61% during the next 3 months and, with a 90% probability hold a price between ₹510.54 and ₹551.85 at the end of this 3-month period.
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SUMICHEM.NS Signals & Forecast
A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -3.53%. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. 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 ₹485.59. On a fall, the stock will find some support from the long-term average at approximately ₹477.65. 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. 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.
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 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 ₹6.60 (1.39%) between high and low. For the last week, the stock has had daily average volatility of 2.40%.
Our recommended stop-loss: ₹460.40 (-4.08%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (SUMICHEM.NS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Sumitomo Chemical India Limited to open at ₹479.87, and during the day (based on 14 day Average True Range), to move between ₹458.82 and ₹501.18, which gives a possible trading interval of +/-₹21.18 (+/-4.41%) 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 8.83% 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 (1.30%) than the resistance at ₹489.55 (1.99%), 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 of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 3.986 Buy Candidate Unchanged
Predicted Opening Price for Sumitomo Chemical India Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹479.87 ( 0.0278%) | ₹480.00 |
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 | 486.47 | 1.35% |
| R2 | 483.95 | 0.82% |
| R1 | 482.39 | 0.497% |
| Price | 480.00 | |
| S1 | 477.35 | -0.553% |
| S2 | 475.79 | -0.88% |
| S3 | 473.27 | -1.40% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 496.35 | 3.41% |
| R2 | 492.50 | 2.60% |
| R1 | 489.55 | 1.99% |
| Price | 480.00 | |
| S1 | 473.75 | -1.30% |
| S2 | 464.20 | -3.29% |
| S3 | 449.00 | -6.46% |
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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