Sundaram Finance Limited Stock Forecast

Sundaram Finance Limited stock downgraded from Strong Buy Candidate to Buy Candidate after Friday trading session.
(Updated on Apr 26, 2024)

SUNDARMFIN.NS Signals & Forecast

The Sundaram Finance Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹4,658.78 and ₹4,281.60. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 15, 2024, and so far it has risen 26.30%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Sundaram Finance Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹4,063.85 and ₹3,978.85. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Sundaram Finance Limited finds support just below today's level at ₹4,063.85. If this is broken, then the next support from accumulated volume will be at ₹3,978.85 and ₹3,795.95.

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 ₹118.80 between high and low, or 2.50%. For the last week, the stock has had daily average volatility of 4.39%.

Our recommended stop-loss: ₹4,648.36 (-3.04%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 27 days ago.)

Trading Expectations (SUNDARMFIN.NS) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Sundaram Finance Limited to open at ₹4,807.63, and during the day (based on 14 day Average True Range), to move between ₹4,619.61 and ₹4,968.59, which gives a possible trading interval of +/-₹174.49 (+/-3.64%) up or down from last closing price. If Sundaram Finance Limited takes out the full calculated possible swing range there will be an estimated 7.28% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ₹4,063.85, some ₹730.25 (15.23%) from the current price of ₹4,794.10, our system finds the risk reward attractive.

Is Sundaram Finance Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and the stock has broken the rising trend up, which indicates an even stronger rate of rising. We can conclude that the current level may hold a buying opportunity as there is a fair chance for Sundaram Finance Limited stock to perform well in the short-term period. Due to a possible false trend-break listing stock as pure buy candidate is held back. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 4.500 Buy Candidate Downgraded

Predicted Opening Price for Sundaram Finance Limited of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.