Swaraj Engines Limited Stock Forecast

Red day on Monday for Swaraj Engines Limited
(Updated on May 06, 2024)

SWARAJENG.BO Signals & Forecast

The Swaraj Engines 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 ₹2,454.59. On a fall, the stock will find some support from the long-term average at approximately ₹2,356.34. 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. 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 Friday, April 26, 2024, and so far it has fallen -3.23%. 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 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 Swaraj Engines Limited stock

Swaraj Engines Limited finds support from accumulated volume at ₹2,396.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹54.70 between high and low, or 2.31%. For the last week the stock has had daily average volatility of 1.70%.

Our recommended stop-loss: ₹2,278.27 (-5.05%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (SWARAJENG.BO) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect Swaraj Engines Limited to open at ₹2,398.05, and during the day (based on 14 day Average True Range), to move between ₹2,339.05 and ₹2,459.85, which gives a possible trading interval of +/-₹60.40 (+/-2.52%) up or down from last closing price. If Swaraj Engines Limited takes out the full calculated possible swing range there will be an estimated 5.03% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹2,396.05 (0.14%) than the resistance at ₹2,432.65 (1.38%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Swaraj Engines Limited stock A Buy?

Swaraj Engines Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.612 Hold/Accumulate Unchanged

Predicted Opening Price for Swaraj Engines Limited of Tuesday, May 7, 2024

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