Sundaram Finance Limited Stock Forecast
Sundaram Finance Limited stock downgraded to Sell Candidate
(Updated on Jun 14, 2024)
The Sundaram Finance Limited stock price fell by -0.159% on the last day (Friday, 14th Jun 2024) from ₹4,546.70 to ₹4,539.45. During the last trading day the stock fluctuated 2.36% from a day low at ₹4,532.80 to a day high of ₹4,640.00. The price has risen in 7 of the last 10 days and is up by 4.59% over the past 2 weeks. Volume has increased on the last day by 1 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 thousand shares were bought and sold for approximately ₹8.10 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 8.85% during the next 3 months and, with a 90% probability hold a price between ₹4,542.11 and ₹5,517.08 at the end of this 3-month period.
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SUNDARMFIN.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 10.86%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Sundaram Finance 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 ₹4,544.62 and ₹4,558.35. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Sundaram Finance Limited stock
Sundaram Finance Limited finds support from accumulated volume at ₹4,340.15 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 ₹107.20 between high and low, or 2.36%. For the last week, the stock has had daily average volatility of 2.45%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SUNDARMFIN.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Sundaram Finance Limited to open at ₹4,570.75, and during the day (based on 14 day Average True Range), to move between ₹4,344.81 and ₹4,734.09, which gives a possible trading interval of +/-₹194.64 (+/-4.29%) up or down from last closing price. If Sundaram Finance Limited takes out the full calculated possible swing range there will be an estimated 8.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹4,582.95 (0.96%) than the support at ₹4,340.15 (4.39%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Sundaram Finance Limited stock A Buy?
The Sundaram Finance Limited stock holds several negative signals and despite the positive trend, we believe Sundaram Finance Limited will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.
Current score: -1.423 Sell Candidate Downgraded
Predicted Opening Price for Sundaram Finance Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹4,570.75 ( 0.690%) | ₹4,539.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SUNDARMFIN.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4,677.95 | 3.05% |
| R2 | 4,637.00 | 2.15% |
| R1 | 4,611.70 | 1.59% |
| Price | 4,539.45 | |
| S1 | 4,529.80 | -0.213% |
| S2 | 4,504.50 | -0.770% |
| S3 | 4,463.55 | -1.67% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4,765.50 | 4.98% |
| R2 | 4,681.35 | 3.13% |
| R1 | 4,582.95 | 0.96% |
| Price | 4,539.45 | |
| S1 | 4,340.15 | -4.39% |
| S2 | 4,094.65 | -9.80% |
| S3 | 3,803.15 | -16.22% |
SUNDARMFIN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 31, 2024 | Jul 31, 2024 | Sep 13, 2024 | ₹16.00 | 0.352% |
| 2 | Feb 16, 2024 | Feb 16, 2024 | Feb 16, 2024 | ₹14.00 | 0.359% |
| 3 | Jul 05, 2023 | Jul 05, 2023 | Aug 20, 2023 | ₹15.00 | 0.580% |
| 4 | Feb 17, 2023 | Feb 17, 2023 | Mar 03, 2023 | ₹12.00 | 0.518% |
| 5 | May 10, 2018 | May 10, 2018 | May 22, 2018 | ₹5.00 | 0.296% |
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