Bajaj Electricals Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Bajaj Electricals Limited stock price up 1.44% on Tuesday
(Updated on May 07, 2024)
The Bajaj Electricals Limited stock price gained 1.44% on the last trading day (Tuesday, 7th May 2024), rising from ₹952.15 to ₹965.90. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.75% from a day low at ₹945.95 to a day high of ₹981.45. The price has risen in 5 of the last 10 days and is up by 2.24% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 615 thousand more shares were traded than the day before. In total, 651 thousand shares were bought and sold for approximately ₹629.22 million.
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 ₹971.71 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 -8.08% during the next 3 months and, with a 90% probability hold a price between ₹793.76 and ₹893.24 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 ₹949.31 and ₹950.82. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 -3.19%. 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 ₹35.50 (3.75%) between high and low. For the last week, the stock has had daily average volatility of 1.72%.
Our recommended stop-loss: ₹927.58 (-3.97%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (BAJAJELEC.NS) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Bajaj Electricals Limited to open at ₹964.43, and during the day (based on 14 day Average True Range), to move between ₹943.07 and ₹988.73, which gives a possible trading interval of +/-₹22.83 (+/-2.36%) up or down from last closing price. If Bajaj Electricals Limited takes out the full calculated possible swing range there will be an estimated 4.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹983.35 (1.81%) than the support at ₹944.70 (2.19%), 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 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: -0.481 Hold/Accumulate Unchanged
Predicted Opening Price for Bajaj Electricals Limited of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| ₹964.43 ( 0.152%) | ₹965.90 |
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 | 999.93 | 3.52 % | |
| R2 | 986.37 | 2.12 % | ||
| R1 | 977.99 | 1.25 % | ||
| Current price: | 965.90 | |||
| Support | S1 | 950.87 | -1.56 % | |
| S2 | 942.49 | -2.42 % | ||
| S3 | 928.93 | -3.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 995.60 | 3.07 % | |
| R2 | 989.35 | 2.43 % | ||
| R1 | 983.35 | 1.81 % | ||
| Current price | 965.90 | |||
| Support | S1 | 944.70 | -2.19% | |
| S2 | 943.15 | -2.36% | ||
| S3 | 927.85 | -3.94% |
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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