Zeal Aqua Limited Stock Forecast
Zeal Aqua Limited stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The Zeal Aqua Limited stock price gained 1.26% on the last trading day (Friday, 28th Jun 2024), rising from ₹11.09 to ₹11.23. During the last trading day the stock fluctuated 5.32% from a day low at ₹11.10 to a day high of ₹11.69. The price has fallen in 7 of the last 10 days and is down by -5.87% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 112 thousand shares were bought and sold for approximately ₹1.26 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.05% during the next 3 months and, with a 90% probability hold a price between ₹10.40 and ₹12.66 at the end of this 3-month period.
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ZEAL.BO Signals & Forecast
Mostly positive signals in the chart today. The Zeal Aqua 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 ₹11.42. On a fall, the stock will find some support from the long-term average at approximately ₹10.77. 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. A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 1.26%. 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). Zeal Aqua Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Zeal Aqua Limited stock
Zeal Aqua Limited finds support from accumulated volume at ₹10.71 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ₹0.590 between high and low, or 5.32%. For the last week, the stock has had daily average volatility of 3.43%.
Our recommended stop-loss: ₹10.60 (-5.60%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (ZEAL.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Zeal Aqua Limited to open at ₹11.34, and during the day (based on 14 day Average True Range), to move between ₹10.75 and ₹11.71, which gives a possible trading interval of +/-₹0.483 (+/-4.30%) up or down from last closing price. If Zeal Aqua Limited takes out the full calculated possible swing range there will be an estimated 8.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹10.71 (4.63%) than the resistance at ₹11.77 (4.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Zeal Aqua 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 Zeal Aqua Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.461 Buy Candidate Upgraded
Predicted Opening Price for Zeal Aqua Limited of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
₹11.34 ( 0.98%) | ₹11.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZEAL.BO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 11.93 | 6.23% |
R2 | 11.70 | 4.23% |
R1 | 11.57 | 2.99% |
Price | 11.23 | |
S1 | 11.11 | -1.03% |
S2 | 10.98 | -2.27% |
S3 | 10.75 | -4.27% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 11.94 | 6.32% |
R2 | 11.81 | 5.16% |
R1 | 11.77 | 4.81% |
Price | 11.23 | |
S1 | 10.71 | -4.63% |
S2 | 10.48 | -6.68% |
S3 | 10.31 | -8.19% |
FAQ
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