Swaraj Engines Limited Stock Forecast

Swaraj Engines Limited stock price down 0.0626% on Thursday
(Updated on Apr 25, 2024)

SWARAJENG.BO Signals & Forecast

The Swaraj Engines 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 ₹2,448.81 and ₹2,350.45. 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). 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 Wednesday, April 24, 2024, and so far it has fallen -0.0626%. Further fall is indicated until a new bottom pivot has been found. 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 Swaraj Engines Limited stock

Swaraj Engines Limited finds support from accumulated volume at ₹2,448.00 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 ₹63.30 between high and low, or 2.61%. For the last week, the stock has had daily average volatility of 2.11%.

Our recommended stop-loss: ₹2,412.45 (-2.50%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (SWARAJENG.BO) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Swaraj Engines Limited to open at ₹2,463.87, and during the day (based on 14 day Average True Range), to move between ₹2,404.02 and ₹2,544.78, which gives a possible trading interval of +/-₹70.38 (+/-2.84%) up or down from last closing price. If Swaraj Engines Limited takes out the full calculated possible swing range there will be an estimated 5.69% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹2,475.95 (0.06%) than the support at ₹2,448.00 (1.07%), 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 Swaraj Engines 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 Swaraj Engines Limited stock to perform well in the short-term.

Current score: 2.940 Buy Candidate Unchanged

Predicted Opening Price for Swaraj Engines Limited of Friday, April 26, 2024

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