Vardhman Special Steels Limited Stock Forecast
Vardhman Special Steels Limited stock price down 2.81% on Thursday
(Updated on Jun 27, 2024)
The Vardhman Special Steels Limited stock price fell by -2.81% on the last day (Thursday, 27th Jun 2024) from ₹321.60 to ₹312.55. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 5.99% from a day low at ₹306.10 to a day high of ₹324.45. The price has been going up and down for this period, and there has been a 5.31% gain for the last 2 weeks. Volume has increased on the last day by 15 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, 18 thousand shares were bought and sold for approximately ₹5.65 million.
The stock lies in the lower part of a 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 ₹303.84 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 36.31% during the next 3 months and, with a 90% probability hold a price between ₹414.16 and ₹513.58 at the end of this 3-month period.
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VSSL.BO Signals & Forecast
The Vardhman Special Steels Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹316.74. On a fall, the stock will find some support from the long-term average at approximately ₹307.19. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Wednesday, May 22, 2024, and so far it has fallen -6.69%. Further fall is indicated until a new bottom pivot has been found. 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 Vardhman Special Steels Limited stock
Vardhman Special Steels Limited finds support from accumulated volume at ₹304.65 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹18.35 between high and low, or 5.99%. For the last week, the stock has had daily average volatility of 5.68%.
Our recommended stop-loss: ₹297.36 (-4.86%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 36 days ago.)
Trading Expectations (VSSL.BO) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Vardhman Special Steels Limited to open at ₹314.37, and during the day (based on 14 day Average True Range), to move between ₹296.76 and ₹328.34, which gives a possible trading interval of +/-₹15.79 (+/-5.05%) up or down from last closing price. If Vardhman Special Steels Limited takes out the full calculated possible swing range there will be an estimated 10.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹304.65 (2.53%) than the resistance at ₹327.40 (4.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Vardhman Special Steels 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 Vardhman Special Steels Limited stock to perform well in the short-term.
Current score: 1.565 Buy Candidate Unchanged
Predicted Opening Price for Vardhman Special Steels Limited of Friday, June 28, 2024
Fair opening price June 28, 2024 | Current price |
---|---|
₹314.37 ( 0.581%) | ₹312.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VSSL.BO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 332.72 | 6.45% |
R2 | 325.71 | 4.21% |
R1 | 321.38 | 2.82% |
Price | 312.55 | |
S1 | 307.36 | -1.66% |
S2 | 303.03 | -3.05% |
S3 | 296.02 | -5.29% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 334.95 | 7.17% |
R2 | 332.30 | 6.32% |
R1 | 327.40 | 4.75% |
Price | 312.55 | |
S1 | 304.65 | -2.53% |
S2 | 299.50 | -4.18% |
S3 | 291.90 | -6.61% |
VSSL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 15, 2023 | Sep 15, 2023 | Oct 27, 2023 | ₹2.00 | 0.94% |
2 | Sep 16, 2022 | Sep 16, 2022 | Oct 30, 2022 | ₹3.50 | 2.69% |
FAQ
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