Bajaj Holdings & Investment Limited Stock Forecast
Bajaj Holdings & Investment Limited stock upgraded to Buy Candidate.
(Updated on May 13, 2024)
The Bajaj Holdings & Investment Limited stock price fell by -0.246% on the last day (Monday, 13th May 2024) from ₹8,428.80 to ₹8,408.05. During the last trading day the stock fluctuated 1.90% from a day low at ₹8,351.05 to a day high of ₹8,509.95. The price has risen in 6 of the last 10 days and is up by 3.17% 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 -893 shares and in total, 309 shares were bought and sold for approximately ₹2.60 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 ₹8,505.88 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 -8.34% during the next 3 months and, with a 90% probability hold a price between ₹6,988.03 and ₹7,796.85 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.
BAJAJHLDNG.BO Signals & Forecast
The Bajaj Holdings & Investment 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 ₹8,325.95 and ₹8,197.19. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 7.37%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The stock had a Golden Star Signal on Monday, May 06, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Monday, May 06, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Bajaj Holdings & Investment Limited stock
Bajaj Holdings & Investment Limited finds support from accumulated volume at ₹8,217.25 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 ₹158.90 (1.90%) between high and low. For the last week, the stock has had daily average volatility of 1.96%.
The Bajaj Holdings & Investment 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: ₹8,010.96 (-4.72%) (This stock has low daily movements and this gives low risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (BAJAJHLDNG.BO) For The Upcoming Trading Day Of Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect Bajaj Holdings & Investment Limited to open at ₹8,423.02, and during the day (based on 14 day Average True Range), to move between ₹8,223.48 and ₹8,592.62, which gives a possible trading interval of +/-₹184.57 (+/-2.20%) up or down from last closing price. If Bajaj Holdings & Investment Limited takes out the full calculated possible swing range there will be an estimated 4.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹8,217.25 (2.27%) than the resistance at ₹8,847.80 (5.23%), 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 Holdings & Investment 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: 2.155 Buy Candidate Upgraded
Predicted Opening Price for Bajaj Holdings & Investment Limited of Tuesday, May 14, 2024
| Fair opening price May 14, 2024 | Current price |
|---|---|
| ₹8,423.02 ( 0.178%) | ₹8,408.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BAJAJHLDNG.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8,581.92 | 2.07 % | |
| R2 | 8,521.22 | 1.35 % | ||
| R1 | 8,483.72 | 0.90 % | ||
| Current price: | 8,408.05 | |||
| Support | S1 | 8,362.32 | -0.544 % | |
| S2 | 8,324.82 | -0.99 % | ||
| S3 | 8,264.12 | -1.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9,127.45 | 8.56 % | |
| R2 | 8,951.25 | 6.46 % | ||
| R1 | 8,847.80 | 5.23 % | ||
| Current price | 8,408.05 | |||
| Support | S1 | 8,217.25 | -2.27% | |
| S2 | 8,162.70 | -2.92% | ||
| S3 | 8,102.05 | -3.64% |
BAJAJHLDNG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Jul 29, 2024 | ₹21.00 | 0.249% |
| 2 | Sep 28, 2023 | Sep 28, 2023 | Oct 13, 2023 | ₹110.00 | 1.61% |
| 3 | Jun 30, 2023 | Jun 30, 2023 | Aug 01, 2023 | ₹13.00 | 0.173% |
| 4 | Jul 06, 2017 | Jul 06, 2017 | Jul 25, 2017 | ₹32.50 | 1.42% |
| 5 | Jul 14, 2016 | Jul 14, 2016 | Jul 14, 2016 | ₹7.50 | 0.465% |
FAQ
Click here for our free guide on how to buy Bajaj Holdings & Investment Limited Stock.
