Sundaram Finance Limited Stock Forecast
Sundaram Finance Limited stock price up 0.310% on Wednesday
(Updated on Jul 03, 2024)
The Sundaram Finance Limited stock price gained 0.310% on the last trading day (Wednesday, 3rd Jul 2024), rising from ₹4,582.95 to ₹4,597.15. During the last trading day the stock fluctuated 3.68% from a day low at ₹4,454.00 to a day high of ₹4,618.00. The price has fallen in 7 of the last 10 days and is down by -2.32% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 34 thousand more shares were traded than the day before. In total, 106 thousand shares were bought and sold for approximately ₹486.24 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Sundaram Finance Limited stock with a 90% probability to be traded between ₹4,184.54 and ₹4,958.13 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SUNDARMFIN.NS Signals & Forecast
The Sundaram Finance 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 ₹4,709.87. On a fall, the stock will find some support from the long-term average at approximately ₹4,570.70. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 Tuesday, June 25, 2024, and so far it has fallen -5.78%. Further fall is indicated until a new bottom pivot has been found.
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 ₹4,291.30 and ₹4,287.55. 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 ₹4,291.30. If this is broken, then the next support from accumulated volume will be at ₹4,287.55 and ₹4,109.20.
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 ₹164.00 between high and low, or 3.68%. For the last week, the stock has had daily average volatility of 3.42%.
Our recommended stop-loss: ₹4,400.08 (-4.29%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (SUNDARMFIN.NS) For The Upcoming Trading Day Of Thursday 4th
For the upcoming trading day on Thursday, 4th we expect Sundaram Finance Limited to open at ₹4,556.38, and during the day (based on 14 day Average True Range), to move between ₹4,428.58 and ₹4,765.72, which gives a possible trading interval of +/-₹168.57 (+/-3.67%) up or down from last closing price. If Sundaram Finance Limited takes out the full calculated possible swing range there will be an estimated 7.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹4,671.85 (1.62%) than the support at ₹4,291.30 (6.65%), 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?
Several short-term signals are positive and we 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.
Current score: 2.958 Buy Candidate Unchanged
Predicted Opening Price for Sundaram Finance Limited of Thursday, July 4, 2024
| Fair opening price July 4, 2024 | Current price |
|---|---|
| ₹4,556.38 ( 0.89%) | ₹4,597.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SUNDARMFIN.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4,720.38 | 2.68% |
| R2 | 4,657.74 | 1.32% |
| R1 | 4,619.03 | 0.476% |
| Price | 4,597.15 | |
| S1 | 4,493.74 | -2.25% |
| S2 | 4,455.03 | -3.09% |
| S3 | 4,392.38 | -4.45% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4,766.40 | 3.68% |
| R2 | 4,743.95 | 3.19% |
| R1 | 4,671.85 | 1.62% |
| Price | 4,597.15 | |
| S1 | 4,291.30 | -6.65% |
| S2 | 4,287.55 | -6.73% |
| S3 | 4,109.20 | -10.61% |
SUNDARMFIN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 31, 2024 | Jul 31, 2024 | Sep 13, 2024 | ₹16.00 | 0.348% |
| 2 | Feb 16, 2024 | Feb 16, 2024 | Mar 01, 2024 | ₹14.00 | 0.335% |
| 3 | Jul 05, 2023 | Jul 05, 2023 | Jul 05, 2023 | ₹15.00 | 0.566% |
| 4 | Feb 17, 2023 | Feb 17, 2023 | Feb 17, 2023 | ₹12.00 | 0.510% |
| 5 | Jul 08, 2022 | Jul 08, 2022 | Jul 08, 2022 | ₹10.00 | 0.532% |
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