Bhansali Engineering Polymers Limited Stock Forecast

Red day on Thursday for Bhansali Engineering Polymers Limited
(Updated on Apr 25, 2024)

BEPL.BO Signals & Forecast

The Bhansali Engineering Polymers 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 ₹102.59. On a fall, the stock will find some support from the long-term average at approximately ₹95.07. 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 Tuesday, April 09, 2024, and so far it has fallen -3.08%. 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 Bhansali Engineering Polymers Limited stock

Bhansali Engineering Polymers Limited finds support from accumulated volume at ₹100.15 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 ₹2.34 between high and low, or 2.32%. For the last week, the stock has had daily average volatility of 4.34%.

Our recommended stop-loss: ₹97.87 (-3.38%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 9 days ago.)

Trading Expectations (BEPL.BO) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Bhansali Engineering Polymers Limited to open at ₹101.78, and during the day (based on 14 day Average True Range), to move between ₹97.36 and ₹105.22, which gives a possible trading interval of +/-₹3.93 (+/-3.88%) up or down from last closing price. If Bhansali Engineering Polymers Limited takes out the full calculated possible swing range there will be an estimated 7.76% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹100.15 (1.13%) than the resistance at ₹103.50 (2.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Bhansali Engineering Polymers Limited stock A Buy?

Bhansali Engineering Polymers 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.

Current score: -0.325 Hold/Accumulate Unchanged

Predicted Opening Price for Bhansali Engineering Polymers Limited of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.