Bajaj Hindusthan Sugar 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 Hindusthan Sugar Limited stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 03, 2024)
The Bajaj Hindusthan Sugar Limited stock price fell by -1.67% on the last day (Friday, 3rd May 2024) from ₹35.90 to ₹35.30. During the last trading day the stock fluctuated 6.04% from a day low at ₹34.75 to a day high of ₹36.85. The price has risen in 5 of the last 10 days and is up by 15.36% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -4 million shares and in total, 18 million shares were bought and sold for approximately ₹626.99 million.
The stock lies the upper part of a very 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 ₹36.06 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 -9.18% during the next 3 months and, with a 90% probability hold a price between ₹23.42 and ₹32.75 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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BAJAJHIND.NS Signals & Forecast
The Bajaj Hindusthan Sugar Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹35.39. On a fall, the stock will find some support from the long-term average at approximately ₹32.03. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Monday, April 29, 2024, and so far it has fallen -2.75%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Bajaj Hindusthan Sugar Limited stock
Bajaj Hindusthan Sugar Limited finds support from accumulated volume at ₹33.65 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 ₹2.10 between high and low, or 6.04%. For the last week, the stock has had daily average volatility of 4.38%.
Our recommended stop-loss: ₹33.68 (-4.58%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (BAJAJHIND.NS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Bajaj Hindusthan Sugar Limited to open at ₹35.63, and during the day (based on 14 day Average True Range), to move between ₹33.69 and ₹36.91, which gives a possible trading interval of +/-₹1.61 (+/-4.57%) 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 9.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹36.35 (2.97%) than the support at ₹33.65 (4.67%), 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.
Earnings coming up
Bajaj Hindusthan Sugar Limited will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for Bajaj Hindusthan Sugar Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.87% in the first trading day after earnings release.
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: 2.138 Buy Candidate Upgraded
Predicted Opening Price for Bajaj Hindusthan Sugar Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹35.63 ( 0.94%) | ₹35.30 |
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 | 37.73 | 6.89 % | |
| R2 | 36.93 | 4.62 % | ||
| R1 | 36.44 | 3.22 % | ||
| Current price: | 35.30 | |||
| Support | S1 | 34.83 | -1.33 % | |
| S2 | 34.34 | -2.73 % | ||
| S3 | 33.53 | -5.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 37.85 | 7.22 % | |
| R2 | 37.45 | 6.09 % | ||
| R1 | 36.35 | 2.97 % | ||
| Current price | 35.30 | |||
| Support | S1 | 33.65 | -4.67% | |
| S2 | 33.45 | -5.24% | ||
| S3 | 31.90 | -9.63% |
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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