Bajaj HealthCare Limited Stock Forecast
Bajaj HealthCare Limited stock price ended at ₹315.85 on Thursday, after losing 0.441%.
(Updated on Jun 20, 2024)
The Bajaj HealthCare Limited stock price fell by -0.441% on the last day (Thursday, 20th Jun 2024) from ₹317.25 to ₹315.85. During the last trading day the stock fluctuated 1.59% from a day low at ₹315.20 to a day high of ₹320.20. The price has risen in 8 of the last 10 days and is up by 10.26% over the past 2 weeks. Volume has increased on the last day by 6 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 12 thousand shares were bought and sold for approximately ₹3.68 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 ₹324.22 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 -3.99% during the next 3 months and, with a 90% probability hold a price between ₹265.95 and ₹311.28 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BAJAJHCARE.BO Signals & Forecast
The Bajaj HealthCare Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹312.94 and ₹304.46. A breakdown below any of these levels will issue sell signals. 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 Wednesday, June 19, 2024, and so far it has fallen -0.441%. 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 Bajaj HealthCare Limited stock
Bajaj HealthCare Limited finds support from accumulated volume at ₹314.80 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 ₹5.00 between high and low, or 1.59%. For the last week, the stock has had daily average volatility of 2.61%.
Our recommended stop-loss: ₹307.45 (-2.66%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (BAJAJHCARE.BO) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Bajaj HealthCare Limited to open at ₹317.08, and during the day (based on 14 day Average True Range), to move between ₹305.56 and ₹326.14, which gives a possible trading interval of +/-₹10.29 (+/-3.26%) up or down from last closing price. If Bajaj HealthCare Limited takes out the full calculated possible swing range there will be an estimated 6.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹314.80 (0.33%) than the resistance at ₹317.00 (0.36%), 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 HealthCare Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.287 Buy Candidate Unchanged
Predicted Opening Price for Bajaj HealthCare Limited of Friday, June 21, 2024
Fair opening price June 21, 2024 | Current price |
---|---|
₹317.08 ( 0.390%) | ₹315.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BAJAJHCARE.BO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 322.08 | 1.97% |
R2 | 320.17 | 1.37% |
R1 | 318.99 | 1.00% |
Price | 315.85 | |
S1 | 315.17 | -0.214% |
S2 | 313.99 | -0.588% |
S3 | 312.08 | -1.19% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 325.70 | 3.12% |
R2 | 320.90 | 1.60% |
R1 | 317.00 | 0.364% |
Price | 315.85 | |
S1 | 314.80 | -0.332% |
S2 | 292.50 | -7.39% |
S3 | 289.55 | -8.33% |
BAJAJHCARE Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 22, 2023 | Sep 22, 2023 | Oct 30, 2023 | ₹1.00 | 0.237% |
2 | Sep 22, 2022 | Sep 22, 2022 | Oct 30, 2022 | ₹1.50 | 0.427% |
FAQ
Click here for our free guide on how to buy Bajaj HealthCare Limited Stock.