Tijaria Polypipes Limited Stock Forecast
High volatility in Tijaria Polypipes Limited stock price on Friday which ended trading at ₹22.05
(Updated on Jun 14, 2024)
The Tijaria Polypipes Limited stock price fell by -5.04% on the last day (Friday, 14th Jun 2024) from ₹23.22 to ₹22.05. During the last trading day the stock fluctuated 10.57% from a day low at ₹22.05 to a day high of ₹24.38. The price has fallen in 8 of the last 10 days and is down by -14.37% for this period. Volume has increased on the last day by 170 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 295 thousand shares were bought and sold for approximately ₹6.49 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹21.83 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 94.22% during the next 3 months and, with a 90% probability hold a price between ₹42.39 and ₹62.49 at the end of this 3-month period.
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TIJARIA.NS Signals & Forecast
There are few to no technical positive signals at the moment. The Tijaria Polypipes Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹22.54 and ₹24.29. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 24, 2024, and so far it has fallen -22.36%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Tijaria Polypipes Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹20.45 and ₹19.50. 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, Tijaria Polypipes Limited finds support just below today's level at ₹20.45. If this is broken, then the next support from accumulated volume will be at ₹19.50 and ₹18.60.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹2.33 between high and low, or 10.57%. For the last week, the stock has had daily average volatility of 6.26%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TIJARIA.NS) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Tijaria Polypipes Limited to open at ₹22.83, and during the day (based on 14 day Average True Range), to move between ₹21.17 and ₹22.93, which gives a possible trading interval of +/-₹0.88 (+/-4.01%) up or down from last closing price. If Tijaria Polypipes Limited takes out the full calculated possible swing range there will be an estimated 8.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹22.12 (0.32%) than the support at ₹20.45 (7.26%), 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 Tijaria Polypipes Limited stock A Buy?
The Tijaria Polypipes Limited stock holds several negative signals and despite the positive trend, we believe Tijaria Polypipes Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.777 Sell Candidate Unchanged
Predicted Opening Price for Tijaria Polypipes Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹22.83 ( 3.52%) | ₹22.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TIJARIA.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.16 | 14.09% |
| R2 | 24.27 | 10.05% |
| R1 | 23.72 | 7.56% |
| Price | 22.05 | |
| S1 | 21.94 | -0.514% |
| S2 | 21.39 | -3.01% |
| S3 | 20.50 | -7.04% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.75 | 16.78% |
| R2 | 23.55 | 6.80% |
| R1 | 22.12 | 0.317% |
| Price | 22.05 | |
| S1 | 20.45 | -7.26% |
| S2 | 19.50 | -11.56% |
| S3 | 18.60 | -15.65% |
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