Tega Industries Limited Stock Forecast

Tega Industries Limited stock price ended at ₹1,628.05 on Friday, after gaining 0.435%.
(Updated on Jun 21, 2024)

TEGA.NS Signals & Forecast

The Tega 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 ₹1,651.98. On a fall, the stock will find some support from the long-term average at approximately ₹1,569.44. 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 Thursday, June 20, 2024, and so far it has risen 0.435%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Tuesday, June 18, 2024 with a target of ₹1,651.90. Despite whether the objective of the signal formation has been reached the stock may continue to fall.

Support, Risk & Stop-loss for Tega Industries Limited stock

Tega Industries Limited finds support from accumulated volume at ₹1,621.00 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 ₹52.05 between high and low, or 3.23%. For the last week the stock has had daily average volatility of 3.07%.

Our recommended stop-loss: ₹1,544.82 (-5.11%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)

Trading Expectations (TEGA.NS) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Tega Industries Limited to open at ₹1,634.67, and during the day (based on 14 day Average True Range), to move between ₹1,554.05 and ₹1,702.05, which gives a possible trading interval of +/-₹74.00 (+/-4.55%) up or down from last closing price. If Tega Industries Limited takes out the full calculated possible swing range there will be an estimated 9.09% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹1,621.00 (0.43%) than the resistance at ₹1,678.85 (3.12%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Tega Industries Limited stock A Buy?

Tega Industries 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: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Tega Industries Limited of Monday, June 24, 2024

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