Vama Industries Limited Stock Forecast
Evaluation of Vama Industries Limited stock downgraded after the last trading session.
(Updated on May 17, 2024)
The Vama Industries Limited stock price gained 0.588% on the last trading day (Friday, 17th May 2024), rising from ₹5.10 to ₹5.13. It has now gained 5 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 5.18% from a day low at ₹5.02 to a day high of ₹5.28. The price has risen in 7 of the last 10 days and is up by 3.22% over the past 2 weeks. Volume fell on the last day by -60 thousand shares and in total, 26 thousand shares were bought and sold for approximately ₹133.52 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 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 -16.84% during the next 3 months and, with a 90% probability hold a price between ₹3.15 and ₹4.69 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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VAMA.BO Signals & Forecast
The Vama Industries Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹4.95 and ₹4.96. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 16.33%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 also not.
Support, Risk & Stop-loss for Vama Industries Limited stock
Vama Industries Limited finds support from accumulated volume at ₹5.08 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved ₹0.260 between high and low, or 5.18%. For the last week the stock has had daily average volatility of 5.34%
Our recommended stop-loss: ₹4.96 (-3.34%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (VAMA.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Vama Industries Limited to open at ₹5.14, and during the day (based on 14 day Average True Range), to move between ₹4.81 and ₹5.45, which gives a possible trading interval of +/-₹0.317 (+/-6.19%) up or down from last closing price. If Vama Industries Limited takes out the full calculated possible swing range there will be an estimated 12.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹5.16 (0.58%) than the support at ₹5.08 (0.97%), 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 Vama Industries Limited stock A Buy?
Vama 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.769 Hold/Accumulate Downgraded
Predicted Opening Price for Vama Industries Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹5.14 ( 0.260%) | ₹5.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VAMA.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.40 | 5.33 % | |
| R2 | 5.30 | 3.39 % | ||
| R1 | 5.24 | 2.20 % | ||
| Current price: | 5.13 | |||
| Support | S1 | 5.04 | -1.68 % | |
| S2 | 4.98 | -2.87 % | ||
| S3 | 4.88 | -4.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.41 | 24.95 % | |
| R2 | 6.28 | 22.42 % | ||
| R1 | 5.16 | 0.585 % | ||
| Current price | 5.13 | |||
| Support | S1 | 5.08 | -0.97% | |
| S2 | 4.63 | -9.75% | ||
| S3 | 4.41 | -14.04% |
FAQ
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