Bajaj Hindusthan Sugar Limited Stock Forecast
Bajaj Hindusthan Sugar Limited stock upgraded to Buy Candidate.
(Updated on Apr 22, 2024)
The Bajaj Hindusthan Sugar Limited stock price gained 4.25% on the last trading day (Monday, 22nd Apr 2024), rising from ₹30.60 to ₹31.90. During the last trading day the stock fluctuated 4.84% from a day low at ₹31.00 to a day high of ₹32.50. The price has fallen in 6 of the last 10 days and is down by -4.63% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 million more shares were traded than the day before. In total, 14 million shares were bought and sold for approximately ₹453.63 million.
The stock lies in the middle of a very 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 -5.60% during the next 3 months and, with a 90% probability hold a price between ₹25.40 and ₹35.30 at the end of this 3-month period.
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BAJAJHIND.NS Signals & Forecast
Mostly positive signals in the chart today. The Bajaj Hindusthan Sugar 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 ₹31.56 and ₹31.58. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 14.54%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Bajaj Hindusthan Sugar Limited stock
Bajaj Hindusthan Sugar Limited finds support from accumulated volume at ₹31.20 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 ₹1.50 between high and low, or 4.84%. For the last week, the stock has had daily average volatility of 4.55%.
Our recommended stop-loss: ₹30.45 (-4.55%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (BAJAJHIND.NS) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Bajaj Hindusthan Sugar Limited to open at ₹31.80, and during the day (based on 14 day Average True Range), to move between ₹30.24 and ₹33.56, which gives a possible trading interval of +/-₹1.66 (+/-5.21%) up or down from last closing price. If Bajaj Hindusthan Sugar Limited takes out the full calculated possible swing range there will be an estimated 10.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹31.20 (2.19%) than the resistance at ₹33.65 (5.49%), 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 Hindusthan Sugar 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.682 Buy Candidate Upgraded
Predicted Opening Price for Bajaj Hindusthan Sugar Limited of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| ₹31.80 ( 0.313%) | ₹31.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BAJAJHIND.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.30 | 4.39 % | |
| R2 | 32.73 | 2.59 % | ||
| R1 | 32.37 | 1.48 % | ||
| Current price: | 31.90 | |||
| Support | S1 | 31.23 | -2.11 % | |
| S2 | 30.87 | -3.22 % | ||
| S3 | 30.30 | -5.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 37.85 | 18.65 % | |
| R2 | 37.45 | 17.40 % | ||
| R1 | 33.65 | 5.49 % | ||
| Current price | 31.90 | |||
| Support | S1 | 31.20 | -2.19% | |
| S2 | 30.85 | -3.29% | ||
| S3 | 30.65 | -3.92% |
BAJAJHIND Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 26, 2012 | Jan 31, 2013 | Mar 16, 2013 | ₹0.100 | 0.461% |
| 2 | Nov 24, 2011 | Feb 02, 2012 | Mar 12, 2012 | ₹0.400 | 1.16% |
| 3 | Nov 30, 2010 | Mar 10, 2011 | Apr 21, 2011 | ₹0.591 | 0.85% |
| 4 | Dec 16, 2009 | Mar 11, 2010 | Apr 17, 2010 | ₹0.591 | 0.514% |
| 5 | Dec 22, 2008 | Mar 12, 2009 | Apr 01, 2009 | ₹0.507 | 1.19% |
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