Trigyn Technologies Limited Stock Forecast
Trigyn Technologies Limited stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on May 09, 2024)
The Trigyn Technologies Limited stock price fell by -2.78% on the last day (Thursday, 9th May 2024) from ₹115.00 to ₹111.80. During the last trading day the stock fluctuated 4.23% from a day low at ₹111.00 to a day high of ₹115.70. The price has fallen in 5 of the last 10 days and is down by -6.4% for this period. 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 -54 thousand shares and in total, 56 thousand shares were bought and sold for approximately ₹6.24 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.88% during the next 3 months and, with a 90% probability hold a price between ₹81.45 and ₹110.74 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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TRIGYN.NS Signals & Forecast
There are few to no technical positive signals at the moment. The Trigyn Technologies Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹115.60 and ₹112.09. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -9.62%. 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 Trigyn Technologies Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹103.10 and ₹99.65. 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, Trigyn Technologies Limited finds support just below today's level at ₹103.10. If this is broken, then the next support from accumulated volume will be at ₹99.65 and ₹93.90.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹4.70 (4.23%) between high and low. For the last week, the stock has had daily average volatility of 4.93%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TRIGYN.NS) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Trigyn Technologies Limited to open at ₹112.83, and during the day (based on 14 day Average True Range), to move between ₹106.33 and ₹117.27, which gives a possible trading interval of +/-₹5.47 (+/-4.90%) up or down from last closing price. If Trigyn Technologies Limited takes out the full calculated possible swing range there will be an estimated 9.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹116.95 (4.61%) than the support at ₹103.10 (7.78%), 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 Trigyn Technologies Limited stock A Buy?
Trigyn Technologies Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.377 Sell Candidate Downgraded
Predicted Opening Price for Trigyn Technologies Limited of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| ₹112.83 ( 0.92%) | ₹111.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRIGYN.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 117.53 | 5.13 % | |
| R2 | 115.74 | 3.52 % | ||
| R1 | 114.63 | 2.53 % | ||
| Current price: | 111.80 | |||
| Support | S1 | 111.04 | -0.682 % | |
| S2 | 109.93 | -1.67 % | ||
| S3 | 108.13 | -3.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 129.60 | 15.92 % | |
| R2 | 125.30 | 12.08 % | ||
| R1 | 116.95 | 4.61 % | ||
| Current price | 111.80 | |||
| Support | S1 | 103.10 | -7.78% | |
| S2 | 99.65 | -10.87% | ||
| S3 | 93.90 | -16.01% |
TRIGYN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 17, 2020 | Sep 17, 2020 | Sep 17, 2020 | ₹0.250 | 0.509% |
| 2 | May 10, 2019 | Sep 18, 2019 | Oct 24, 2019 | ₹0.750 | 1.79% |
| 3 | Aug 11, 2014 | Sep 16, 2014 | Oct 26, 2014 | ₹0.500 | 1.07% |
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