The Supreme Industries Limited Stock Forecast
The Supreme Industries Limited stock price ended at ₹5,612.75 on Friday, after gaining 1.34%.
(Updated on May 17, 2024)
The The Supreme Industries Limited stock price gained 1.34% on the last trading day (Friday, 17th May 2024), rising from ₹5,538.50 to ₹5,612.75. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.98% from a day low at ₹5,450.05 to a day high of ₹5,666.70. The price has risen in 7 of the last 10 days and is up by 13.22% over the past 2 weeks. Volume fell on the last day by -95 thousand shares and in total, 217 thousand shares were bought and sold for approximately ₹1.22 billion. 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 has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ₹5,108.68, a level that may pose a second chance to hit a runner. According to fan-theory ₹5,618.36 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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SUPREMEIND.NS Signals & Forecast
Mostly positive signals in the chart today. The The Supreme Industries 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 ₹5,386.41 and ₹4,636.75. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 38.83%. 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). 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 The Supreme Industries Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹5,062.10 and ₹4,957.55. 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, The Supreme Industries Limited finds support just below today's level at ₹5,062.10. If this is broken, then the next support from accumulated volume will be at ₹4,957.55 and ₹4,955.15.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹216.65 between high and low, or 3.98%. For the last week, the stock has had daily average volatility of 4.25%.
Our recommended stop-loss: ₹5,438.75 (-3.10%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (SUPREMEIND.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect The Supreme Industries Limited to open at ₹5,576.50, and during the day (based on 14 day Average True Range), to move between ₹5,375.52 and ₹5,849.98, which gives a possible trading interval of +/-₹237.23 (+/-4.23%) up or down from last closing price. If The Supreme Industries Limited takes out the full calculated possible swing range there will be an estimated 8.45% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹5,062.10, some ₹550.65 (9.81%) from the current price of ₹5,612.75, our system finds the risk reward attractive.
Is The Supreme Industries Limited stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for The Supreme Industries Limited stock to perform well in the short-term period.
Current score: 7.531 Strong Buy Candidate Unchanged
Predicted Opening Price for The Supreme Industries Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹5,576.50 ( 0.646%) | ₹5,612.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SUPREMEIND.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5,793.15 | 3.21 % | |
| R2 | 5,710.39 | 1.74 % | ||
| R1 | 5,659.26 | 0.83 % | ||
| Current price: | 5,612.75 | |||
| Support | S1 | 5,493.74 | -2.12 % | |
| S2 | 5,442.61 | -3.03 % | ||
| S3 | 5,359.85 | -4.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 5,612.75 | |||
| Support | S1 | 5,062.10 | -9.81% | |
| S2 | 4,957.55 | -11.67% | ||
| S3 | 4,955.15 | -11.72% |
SUPREMEIND Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 21, 2024 | Jun 21, 2024 | Jul 28, 2024 | ₹22.00 | 0.392% |
| 2 | Nov 07, 2023 | Nov 07, 2023 | Nov 07, 2023 | ₹8.00 | 0.184% |
| 3 | Jun 21, 2023 | Jun 21, 2023 | Jun 21, 2023 | ₹20.00 | 0.656% |
| 4 | Nov 07, 2022 | Nov 07, 2022 | Nov 07, 2022 | ₹6.00 | 0.254% |
| 5 | Jun 21, 2022 | Jun 21, 2022 | Jun 21, 2022 | ₹18.00 | 1.03% |
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