Swadeshi Polytex Limited Stock Forecast

Red day on Friday for Swadeshi Polytex Limited
(Updated on May 31, 2024)

SWADPOL.BO Signals & Forecast

There are few to no technical positive signals at the moment. The Swadeshi Polytex Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹249.56 and ₹271.71. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -45.92%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Swadeshi Polytex Limited stock

Swadeshi Polytex Limited finds support from accumulated volume at ₹210.95 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 ₹0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (SWADPOL.BO) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Swadeshi Polytex Limited to open at ₹212.90, and during the day (based on 14 day Average True Range), to move between ₹196.65 and ₹229.15, which gives a possible trading interval of +/-₹16.25 (+/-7.63%) up or down from last closing price. If Swadeshi Polytex Limited takes out the full calculated possible swing range there will be an estimated 15.27% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹210.95 (0.92%) than the resistance at ₹254.40 (19.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Swadeshi Polytex Limited stock A Buy?

The Swadeshi Polytex Limited stock holds several negative signals and despite the positive trend, we believe Swadeshi Polytex Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -1.188 Sell Candidate Unchanged

Predicted Opening Price for Swadeshi Polytex Limited of Monday, June 3, 2024

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