Bajaj Electricals Limited Stock Forecast
Bajaj Electricals Limited stock upgraded to Hold/Accumulate.
(Updated on May 06, 2024)
The Bajaj Electricals Limited stock price gained 0.168% on the last trading day (Monday, 6th May 2024), rising from ₹950.55 to ₹952.15. During the last trading day the stock fluctuated 1.83% from a day low at ₹939.55 to a day high of ₹956.70. The price has fallen in 5 of the last 10 days but is still up by 0.11% over the past 2 weeks. Volume fell on the last day by -14 thousand shares and in total, 37 thousand shares were bought and sold for approximately ₹35.03 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 the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹971.33 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -8.62% during the next 3 months and, with a 90% probability hold a price between ₹787.80 and ₹887.56 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
The Bajaj Electricals Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹945.36 and ₹950.54. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -4.57%. 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 ₹944.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹17.15 (1.83%) between high and low. For the last week, the stock has had daily average volatility of 1.50%.
Our recommended stop-loss: ₹917.36 (-3.65%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (BAJAJELEC.NS) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Bajaj Electricals Limited to open at ₹949.47, and during the day (based on 14 day Average True Range), to move between ₹930.26 and ₹974.04, which gives a possible trading interval of +/-₹21.89 (+/-2.30%) up or down from last closing price. If Bajaj Electricals Limited takes out the full calculated possible swing range there will be an estimated 4.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹944.70 (0.78%) than the resistance at ₹983.35 (3.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bajaj Electricals Limited stock A Buy?
Bajaj Electricals 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: -0.455 Hold/Accumulate Upgraded
Predicted Opening Price for Bajaj Electricals Limited of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ₹949.47 ( 0.282%) | ₹952.15 |
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 | 966.62 | 1.52 % | |
| R2 | 960.07 | 0.83 % | ||
| R1 | 956.02 | 0.406 % | ||
| Current price: | 952.15 | |||
| Support | S1 | 942.92 | -0.97 % | |
| S2 | 938.87 | -1.39 % | ||
| S3 | 932.32 | -2.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 995.60 | 4.56 % | |
| R2 | 989.35 | 3.91 % | ||
| R1 | 983.35 | 3.28 % | ||
| Current price | 952.15 | |||
| Support | S1 | 944.70 | -0.782% | |
| S2 | 943.15 | -0.95% | ||
| S3 | 927.85 | -2.55% |
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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