B.A.G. Films and Media Limited Stock Forecast

Stronger technical forecast for B.A.G. Films and Media Limited stock price after Friday trading.
(Updated on Apr 26, 2024)

BAGFILMS.NS Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 6.88%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The B.A.G. Films and Media 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 ₹8.70 and ₹9.02. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). B.A.G. Films and Media Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for B.A.G. Films and Media Limited stock

B.A.G. Films and Media Limited finds support from accumulated volume at ₹8.35 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 ₹0.0500 between high and low, or 0.585%. For the last week, the stock has had daily average volatility of 0.82%.

B.A.G. Films and Media Limited is oversold on RSI14 (12). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: ₹8.06 (-5.76%) (This stock has high daily movements and this gives high risk. Low RSI14 is 12 which reduces the risk some. There is a buy signal from a pivot bottom found 20 days ago.)

Trading Expectations (BAGFILMS.NS) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect B.A.G. Films and Media Limited to open at ₹8.57, and during the day (based on 14 day Average True Range), to move between ₹8.26 and ₹8.84, which gives a possible trading interval of +/-₹0.290 (+/-3.39%) up or down from last closing price. If B.A.G. Films and Media Limited takes out the full calculated possible swing range there will be an estimated 6.78% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹8.60 (0.58%) than the support at ₹8.35 (2.34%), 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 B.A.G. Films and Media Limited stock A Buy?

B.A.G. Films and Media Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.775 Hold/Accumulate Upgraded

Predicted Opening Price for B.A.G. Films and Media Limited of Monday, April 29, 2024

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