Bajaj Healthcare Limited Stock Forecast
Bajaj Healthcare Limited stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Jun 26, 2024)
The Bajaj Healthcare Limited stock price gained 0.387% on the last trading day (Wednesday, 26th Jun 2024), rising from ₹335.60 to ₹336.90. During the last trading day the stock fluctuated 5.67% from a day low at ₹333.55 to a day high of ₹352.45. The price has risen in 7 of the last 10 days and is up by 9.45% 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, 49 thousand more shares were traded than the day before. In total, 650 thousand shares were bought and sold for approximately ₹218.90 million.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ₹343.49 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Bajaj Healthcare Limited stock with a 90% probability to be traded between ₹272.80 and ₹337.38 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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BAJAJHCARE.NS 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 ₹326.85 and ₹305.81. 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). 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 Monday, June 24, 2024, and so far it has fallen -1.98%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Bajaj Healthcare Limited stock
Bajaj Healthcare Limited finds support from accumulated volume at ₹335.60 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 ₹18.90 between high and low, or 5.67%. For the last week, the stock has had daily average volatility of 5.84%.
The Bajaj Healthcare Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: ₹325.25 (-3.46%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 87 and this increases the risk substantially. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (BAJAJHCARE.NS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Bajaj Healthcare Limited to open at ₹340.97, and during the day (based on 14 day Average True Range), to move between ₹323.29 and ₹350.51, which gives a possible trading interval of +/-₹13.61 (+/-4.04%) up or down from last closing price. If Bajaj Healthcare Limited takes out the full calculated possible swing range there will be an estimated 8.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹335.60 (0.39%) than the resistance at ₹343.70 (2.02%), 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 and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Bajaj Healthcare Limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.036 Buy Candidate Upgraded
Predicted Opening Price for Bajaj Healthcare Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₹340.97 ( 1.21%) | ₹336.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BAJAJHCARE.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 359.87 | 6.82% |
| R2 | 352.65 | 4.67% |
| R1 | 348.19 | 3.35% |
| Price | 336.90 | |
| S1 | 333.75 | -0.94% |
| S2 | 329.29 | -2.26% |
| S3 | 322.07 | -4.40% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 343.70 | 2.02% |
| Price | 336.90 | |
| S1 | 335.60 | -0.386% |
| S2 | 326.55 | -3.07% |
| S3 | 323.85 | -3.87% |
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 | 0.428% |
FAQ
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