Suraj Products Limited Stock Forecast

Green day on Friday for Suraj Products Limited
(Updated on May 17, 2024)

SURAJ.BO Signals & Forecast

The Suraj Products 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 ₹756.09 and ₹573.60. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has risen 44.10%. 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 Suraj Products Limited stock

Suraj Products Limited finds support from accumulated volume at ₹825.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₹16.25 between high and low, or 1.91%. For the last week, the stock has had daily average volatility of 6.33%.

Since the Suraj Products Limited has been rising for 8 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: ₹839.57 (-3.08%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 12 days ago.)

Trading Expectations (SURAJ.BO) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Suraj Products Limited to open at ₹860.83, and during the day (based on 14 day Average True Range), to move between ₹827.94 and ₹904.56, which gives a possible trading interval of +/-₹38.31 (+/-4.42%) up or down from last closing price. If Suraj Products Limited takes out the full calculated possible swing range there will be an estimated 8.84% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ₹825.00, some ₹41.25 (4.76%) from the current price of ₹866.25, our system finds the risk reward attractive.

Is Suraj Products 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 Suraj Products Limited stock to perform well in the short-term period.

Current score: 7.188 Strong Buy Candidate Unchanged

Predicted Opening Price for Suraj Products Limited of Tuesday, May 21, 2024

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