Zuari Agro Chemicals Limited Stock Forecast
Red day on Friday for Zuari Agro Chemicals Limited stock after losing 0.414%
(Updated on May 31, 2024)
The Zuari Agro Chemicals Limited stock price fell by -0.414% on the last day (Friday, 31st May 2024) from ₹169.20 to ₹168.50. During the last trading day the stock fluctuated 3.49% from a day low at ₹167.55 to a day high of ₹173.40. The price has fallen in 6 of the last 10 days and is down by -3.3% 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 -21 thousand shares and in total, 101 thousand shares were bought and sold for approximately ₹16.95 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 -6.36% during the next 3 months and, with a 90% probability hold a price between ₹140.31 and ₹181.43 at the end of this 3-month period.
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ZUARI.NS Signals & Forecast
There are mixed signals in the stock today. The Zuari Agro Chemicals Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹173.33 and ₹182.53. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Monday, May 13, 2024, and so far it has risen 3.18%. 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).
Support, Risk & Stop-loss for Zuari Agro Chemicals Limited stock
Zuari Agro Chemicals Limited finds support from accumulated volume at ₹167.85 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 ₹5.85 between high and low, or 3.49%. For the last week, the stock has had daily average volatility of 3.84%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ZUARI.NS) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Zuari Agro Chemicals Limited to open at ₹169.82, and during the day (based on 14 day Average True Range), to move between ₹161.79 and ₹175.21, which gives a possible trading interval of +/-₹6.71 (+/-3.98%) up or down from last closing price. If Zuari Agro Chemicals Limited takes out the full calculated possible swing range there will be an estimated 7.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹168.85 (0.21%) than the support at ₹167.85 (0.39%), 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 Zuari Agro Chemicals Limited stock A Buy?
Zuari Agro Chemicals 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: -1.218 Sell Candidate Unchanged
Predicted Opening Price for Zuari Agro Chemicals Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ₹169.82 ( 0.781%) | ₹168.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZUARI.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 175.67 | 4.25 % | |
| R2 | 173.43 | 2.93 % | ||
| R1 | 172.05 | 2.11 % | ||
| Current price: | 168.50 | |||
| Support | S1 | 167.58 | -0.545 % | |
| S2 | 166.20 | -1.36 % | ||
| S3 | 163.97 | -2.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 201.00 | 19.29 % | |
| R2 | 181.25 | 7.57 % | ||
| R1 | 168.85 | 0.208 % | ||
| Current price | 168.50 | |||
| Support | S1 | 167.85 | -0.386% | |
| S2 | 163.30 | -3.09% | ||
| S3 | 161.70 | -4.04% |
ZUARI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 19, 2017 | Jul 13, 2017 | Oct 22, 2017 | ₹1.00 | 0.203% |
| 2 | May 15, 2015 | Jul 30, 2015 | Nov 01, 2015 | ₹2.00 | 1.27% |
| 3 | May 08, 2014 | Jun 27, 2014 | Oct 01, 2014 | ₹3.00 | 1.49% |
| 4 | May 09, 2013 | May 27, 2013 | Sep 27, 2013 | ₹3.00 | 3.58% |
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