Bajaj Electricals Limited Stock Forecast
Bajaj Electricals Limited stock price up 0.214% on Friday
(Updated on Apr 26, 2024)
The Bajaj Electricals Limited stock price gained 0.214% on the last trading day (Friday, 26th Apr 2024), rising from ₹936.30 to ₹938.30. During the last trading day the stock fluctuated 1.27% from a day low at ₹934.75 to a day high of ₹946.65. The price has fallen in 6 of the last 10 days and is down by -5.58% for this period. Volume fell on the last day by -8 thousand shares and in total, 33 thousand shares were bought and sold for approximately ₹30.63 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a 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 -10.75% during the next 3 months and, with a 90% probability hold a price between ₹770.57 and ₹871.27 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BAJAJELEC.NS Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Bajaj Electricals 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 ₹942.49 and ₹955.26. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -5.96%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Bajaj Electricals Limited stock
Bajaj Electricals Limited finds support from accumulated volume at ₹929.45 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 ₹11.90 between high and low, or 1.27%. For the last week, the stock has had daily average volatility of 1.58%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BAJAJELEC.NS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Bajaj Electricals Limited to open at ₹939.90, and during the day (based on 14 day Average True Range), to move between ₹912.20 and ₹964.40, which gives a possible trading interval of +/-₹26.10 (+/-2.78%) up or down from last closing price. If Bajaj Electricals Limited takes out the full calculated possible swing range there will be an estimated 5.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹943.15 (0.52%) than the support at ₹929.45 (0.94%), 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 Bajaj Electricals Limited stock A Buy?
Bajaj Electricals Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.419 Sell Candidate Unchanged
Predicted Opening Price for Bajaj Electricals Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ₹939.90 ( 0.171%) | ₹938.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BAJAJELEC.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 951.80 | 1.44 % | |
| R2 | 947.25 | 0.95 % | ||
| R1 | 944.45 | 0.655 % | ||
| Current price: | 938.30 | |||
| Support | S1 | 935.35 | -0.314 % | |
| S2 | 932.55 | -0.613 % | ||
| S3 | 928.00 | -1.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 995.60 | 6.11 % | |
| R2 | 944.70 | 0.682 % | ||
| R1 | 943.15 | 0.517 % | ||
| Current price | 938.30 | |||
| Support | S1 | 929.45 | -0.94% | |
| S2 | 927.85 | -1.11% | ||
| S3 | 902.55 | -3.81% |
BAJAJELEC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 28, 2023 | Jul 28, 2023 | Jul 28, 2023 | ₹4.00 | 0.324% |
| 2 | Jul 27, 2023 | Jul 27, 2023 | Jul 27, 2023 | ₹4.00 | 0.322% |
| 3 | Jul 28, 2022 | Jul 28, 2022 | Jul 28, 2022 | ₹3.00 | 0.269% |
| 4 | May 22, 2019 | Jul 25, 2019 | Sep 06, 2019 | ₹3.41 | 0.93% |
| 5 | May 23, 2018 | Aug 02, 2018 | Sep 08, 2018 | ₹3.41 | 0.654% |
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