Sunflag Iron and Steel Company Limited Stock Forecast
Sunflag Iron and Steel Company Limited stock price ended at ₹215.09 on Tuesday, after gaining 0.636%.
(Updated on Jun 25, 2024)
The Sunflag Iron and Steel Company Limited stock price gained 0.636% on the last trading day (Tuesday, 25th Jun 2024), rising from ₹213.73 to ₹215.09. During the last trading day the stock fluctuated 4.10% from a day low at ₹213.92 to a day high of ₹222.70. The price has risen in 7 of the last 10 days and is up by 2.79% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 343 thousand more shares were traded than the day before. In total, 495 thousand shares were bought and sold for approximately ₹106.42 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 4.69% during the next 3 months and, with a 90% probability hold a price between ₹198.13 and ₹242.73 at the end of this 3-month period.
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SUNFLAG.NS Signals & Forecast
The Sunflag Iron and Steel Company 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 ₹214.43 and ₹210.32. A breakdown below any of these levels will issue sell signals. 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 18, 2024, and so far it has fallen -1.00%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Monday, June 10, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, June 10, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Sunflag Iron and Steel Company Limited stock
Sunflag Iron and Steel Company Limited finds support from accumulated volume at ₹214.75 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 ₹8.78 between high and low, or 4.10%. For the last week, the stock has had daily average volatility of 3.17%.
Our recommended stop-loss: ₹207.65 (-3.46%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (SUNFLAG.NS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Sunflag Iron and Steel Company Limited to open at ₹217.24, and during the day (based on 14 day Average True Range), to move between ₹206.85 and ₹223.33, which gives a possible trading interval of +/-₹8.24 (+/-3.83%) up or down from last closing price. If Sunflag Iron and Steel Company Limited takes out the full calculated possible swing range there will be an estimated 7.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹214.75 (0.16%) than the resistance at ₹218.35 (1.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sunflag Iron and Steel Company 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 Sunflag Iron and Steel Company Limited stock to perform well in the short-term.
Current score: 3.555 Buy Candidate Unchanged
Predicted Opening Price for Sunflag Iron and Steel Company Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹217.24 ( 1.00%) | ₹215.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SUNFLAG.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 226.02 | 5.08% |
| R2 | 222.66 | 3.52% |
| R1 | 220.59 | 2.56% |
| Price | 215.09 | |
| S1 | 213.88 | -0.561% |
| S2 | 211.81 | -1.52% |
| S3 | 208.46 | -3.08% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 228.00 | 6.00% |
| R2 | 219.50 | 2.05% |
| R1 | 218.35 | 1.52% |
| Price | 215.09 | |
| S1 | 214.75 | -0.158% |
| S2 | 205.30 | -4.55% |
| S3 | 185.30 | -13.85% |
SUNFLAG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 21, 2019 | Sep 05, 2019 | Oct 22, 2019 | ₹0.500 | 2.00% |
| 2 | May 28, 2018 | Sep 06, 2018 | Oct 25, 2018 | ₹0.500 | 0.88% |
| 3 | May 27, 2011 | Aug 30, 2011 | Oct 23, 2011 | ₹0.500 | 2.00% |
| 4 | May 28, 2010 | Sep 02, 2010 | Oct 23, 2010 | ₹0.500 | 1.61% |
| 5 | Jun 23, 2009 | Sep 03, 2009 | Oct 01, 2009 | ₹0.500 | 1.96% |
FAQ
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