VEERAM SECURITIES LIMITED Stock Forecast
Red day on Thursday for VEERAM SECURITIES LIMITED stock after losing 0.665%
(Updated on Jul 04, 2024)
The VEERAM SECURITIES LIMITED stock price fell by -0.665% on the last day (Thursday, 4th Jul 2024) from ₹9.02 to ₹8.96. During the last trading day the stock fluctuated 1.68% from a day low at ₹8.92 to a day high of ₹9.07. The price has been going up and down for this period, and there has been a -0.55% loss for the last 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 -50 thousand shares and in total, 147 thousand shares were bought and sold for approximately ₹1.32 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect VEERAM SECURITIES LIMITED stock with a 90% probability to be traded between ₹8.51 and ₹9.69 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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VSL.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 2.28%. 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. The VEERAM SECURITIES LIMITED stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹9.06. On a fall, the stock will find some support from the short-term average at ₹8.95. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
A buy signal from a double bottom formation was found on Thursday, May 30, 2024 and based on theory for this formation the price should go up by 14.79% to ₹10.29 within 17 trading days (Tuesday, June 25, 2024) since signal was issued.
Support, Risk & Stop-loss for VEERAM SECURITIES LIMITED stock
VEERAM SECURITIES LIMITED finds support from accumulated volume at ₹8.92 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 ₹0.150 between high and low, or 1.68%. For the last week the stock has had daily average volatility of 2.01%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VSL.BO) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect VEERAM SECURITIES LIMITED to open at ₹8.98, and during the day (based on 14 day Average True Range), to move between ₹8.65 and ₹9.27, which gives a possible trading interval of +/-₹0.313 (+/-3.50%) up or down from last closing price. If VEERAM SECURITIES LIMITED takes out the full calculated possible swing range there will be an estimated 6.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹8.92 (0.45%) than the resistance at ₹9.35 (4.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is VEERAM SECURITIES LIMITED stock A Buy?
VEERAM SECURITIES LIMITED holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.235 Sell Candidate Unchanged
Predicted Opening Price for VEERAM SECURITIES LIMITED of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| ₹8.98 ( 0.260%) | ₹8.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VSL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9.13 | 1.93% |
| R2 | 9.08 | 1.30% |
| R1 | 9.04 | 0.90% |
| Price | 8.96 | |
| S1 | 8.93 | -0.379% |
| S2 | 8.89 | -0.774% |
| S3 | 8.83 | -1.41% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9.98 | 11.38% |
| R2 | 9.44 | 5.36% |
| R1 | 9.35 | 4.35% |
| Price | 8.96 | |
| S1 | 8.92 | -0.446% |
| S2 | 8.91 | -0.558% |
| S3 | 8.77 | -2.12% |
VSL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 28, 2023 | Nov 28, 2023 | Dec 04, 2023 | ₹0.0500 | 0.575% |
FAQ
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