Surya Roshni Limited Stock Forecast

Stronger technical forecast for Surya Roshni Limited stock price after Friday trading.
(Updated on Apr 19, 2024)

SURYAROSNI.NS Signals & Forecast

The Surya Roshni 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 ₹561.70. On a fall, the stock will find some support from the long-term average at approximately ₹543.54. 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. A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 16.14%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Surya Roshni Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹513.15 and ₹508.20. 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, Surya Roshni Limited finds support just below today's level at ₹513.15. If this is broken, then the next support from accumulated volume will be at ₹508.20 and ₹499.50.

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 ₹12.00 between high and low, or 2.19%. For the last week, the stock has had daily average volatility of 3.82%.

Our recommended stop-loss: ₹530.23 (-4.43%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 24 days ago.)

Trading Expectations (SURYAROSNI.NS) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Surya Roshni Limited to open at ₹554.87, and during the day (based on 14 day Average True Range), to move between ₹529.33 and ₹580.27, which gives a possible trading interval of +/-₹25.47 (+/-4.59%) up or down from last closing price. If Surya Roshni Limited takes out the full calculated possible swing range there will be an estimated 9.18% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹571.75 (3.06%) than the support at ₹513.15 (7.51%), 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 Surya Roshni Limited stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.433 Buy Candidate Upgraded

Predicted Opening Price for Surya Roshni Limited of Monday, April 22, 2024

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