Tera Software Limited Stock Forecast
Is Tera Software Limited stock still a buy after falling -5.01% on Friday?
(Updated on Jun 21, 2024)
The Tera Software Limited stock price fell by -5.01% on the last day (Friday, 21st Jun 2024) from ₹94.50 to ₹89.77. During the last trading day the stock fluctuated 5.27% from a day low at ₹89.77 to a day high of ₹94.50. The price has risen in 6 of the last 10 days and is up by 28.98% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 million shares and in total, 74 thousand shares were bought and sold for approximately ₹6.67 million.
The stock lies in the upper part of a very wide and strong rising 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 ₹94.98 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 44.52% during the next 3 months and, with a 90% probability hold a price between ₹87.60 and ₹137.27 at the end of this 3-month period.
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TERASOFT.NS Signals & Forecast
The Tera Software 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 ₹81.84 and ₹61.49. 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 Thursday, June 20, 2024, and so far it has fallen -5.01%. Further fall is indicated until a new bottom pivot has been found. 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 Tera Software Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹81.52 and ₹77.17. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Tera Software Limited finds support just below today's level at ₹81.52. If this is broken, then the next support from accumulated volume will be at ₹77.17 and ₹75.15.
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 ₹4.73 between high and low, or 5.27%. For the last week, the stock has had daily average volatility of 14.54%.
Our recommended stop-loss: ₹85.68 (-4.56%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 30 days ago.)
Trading Expectations (TERASOFT.NS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Tera Software Limited to open at ₹91.35, and during the day (based on 14 day Average True Range), to move between ₹83.06 and ₹96.48, which gives a possible trading interval of +/-₹6.71 (+/-7.48%) up or down from last closing price. If Tera Software Limited takes out the full calculated possible swing range there will be an estimated 14.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹93.37 (4.01%) than the support at ₹81.52 (9.19%), 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 Tera Software 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 Tera Software Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.799 Buy Candidate Upgraded
Predicted Opening Price for Tera Software Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ₹91.35 ( 1.76%) | ₹89.77 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TERASOFT.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 96.08 | 7.03% |
| R2 | 94.27 | 5.01% |
| R1 | 93.15 | 3.77% |
| Price | 89.77 | |
| S1 | 89.54 | -0.256% |
| S2 | 88.42 | -1.50% |
| S3 | 86.62 | -3.51% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 94.50 | 5.27% |
| R1 | 93.37 | 4.01% |
| Price | 89.77 | |
| S1 | 81.52 | -9.19% |
| S2 | 77.17 | -14.04% |
| S3 | 75.15 | -16.29% |
FAQ
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