Tai Industries Limited Stock Forecast
Tai Industries Limited stock upgraded to Hold/Accumulate.
(Updated on Apr 19, 2024)
The Tai Industries Limited stock price gained 0.563% on the last trading day (Friday, 19th Apr 2024), rising from ₹42.60 to ₹42.84. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 6.72% from a day low at ₹40.62 to a day high of ₹43.35. The price has risen in 6 of the last 10 days but is still down by -2.35% for this period. Volume fell on the last day by -1 thousand shares and in total, 118 shares were bought and sold for approximately ₹5.06 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹43.88 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -15.49% during the next 3 months and, with a 90% probability hold a price between ₹30.51 and ₹37.09 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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TAIIND.BO Signals & Forecast
The Tai Industries 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 ₹42.88. On a fall, the stock will find some support from the long-term average at approximately ₹42.79. 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, March 22, 2024, and so far it has fallen -6.87%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Tai Industries Limited stock
Tai Industries Limited finds support from accumulated volume at ₹42.31 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹2.73 between high and low, or 6.72%. For the last week the stock has had daily average volatility of 4.91%.
Our recommended stop-loss: ₹41.00 (-4.29%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (TAIIND.BO) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Tai Industries Limited to open at ₹42.27, and during the day (based on 14 day Average True Range), to move between ₹40.12 and ₹45.56, which gives a possible trading interval of +/-₹2.72 (+/-6.35%) up or down from last closing price. If Tai Industries Limited takes out the full calculated possible swing range there will be an estimated 12.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹42.31 (1.24%) than the resistance at ₹45.17 (5.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tai Industries Limited stock A Buy?
Tai Industries Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.906 Hold/Accumulate Upgraded
Predicted Opening Price for Tai Industries Limited of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| ₹42.27 ( 1.33%) | ₹42.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TAIIND.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.00 | 5.04 % | |
| R2 | 43.96 | 2.61 % | ||
| R1 | 43.31 | 1.10 % | ||
| Current price: | 42.84 | |||
| Support | S1 | 41.23 | -3.76 % | |
| S2 | 40.58 | -5.27 % | ||
| S3 | 39.54 | -7.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 51.39 | 19.96 % | |
| R2 | 46.00 | 7.38 % | ||
| R1 | 45.17 | 5.44 % | ||
| Current price | 42.84 | |||
| Support | S1 | 42.31 | -1.24% | |
| S2 | 41.31 | -3.57% | ||
| S3 | 40.44 | -5.60% |
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