Bajaj Holdings & Investment Limited Stock Forecast
Stronger technical forecast for Bajaj Holdings & Investment Limited stock price after Friday trading.
(Updated on Jun 14, 2024)
The Bajaj Holdings & Investment Limited stock price gained 0.599% on the last trading day (Friday, 14th Jun 2024), rising from ₹8,253.45 to ₹8,302.85. During the last trading day the stock fluctuated 0.96% from a day low at ₹8,260.30 to a day high of ₹8,340.00. The price has risen in 6 of the last 10 days and is up by 4.39% 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, 10 thousand more shares were traded than the day before. In total, 38 thousand shares were bought and sold for approximately ₹311.51 million.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ₹8,420.46 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Bajaj Holdings & Investment Limited stock with a 90% probability to be traded between ₹7,744.44 and ₹8,376.52 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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BAJAJHLDNG.NS Signals & Forecast
The Bajaj Holdings & Investment 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 ₹8,317.25. On a fall, the stock will find some support from the long-term average at approximately ₹8,194.47. 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). 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 10, 2024, and so far it has fallen -1.43%. Further fall is indicated until a new bottom pivot has been found. 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.
A sell signal from a double top formation was found on Monday, June 10, 2024 and based on theory for this formation the price should fall by -11.16% to ₹7,375.94 within 19 trading days since signal was issued (Tuesday, June 18, 2024).
Support, Risk & Stop-loss for Bajaj Holdings & Investment Limited stock
Bajaj Holdings & Investment Limited finds support from accumulated volume at ₹8,101.35 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 ₹79.70 (0.96%) between high and low. For the last week, the stock has had daily average volatility of 2.24%.
Our recommended stop-loss: ₹7,971.65 (-3.99%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (BAJAJHLDNG.NS) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Bajaj Holdings & Investment Limited to open at ₹8,301.05, and during the day (based on 14 day Average True Range), to move between ₹8,116.65 and ₹8,489.05, which gives a possible trading interval of +/-₹186.20 (+/-2.24%) 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 4.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹8,358.00 (0.66%) than the support at ₹8,101.35 (2.43%), 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.
Is Bajaj Holdings & Investment 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 Holdings & Investment 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: 1.784 Buy Candidate Upgraded
Predicted Opening Price for Bajaj Holdings & Investment Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹8,301.05 ( 0.0217%) | ₹8,302.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BAJAJHLDNG.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8,380.75 | 0.94% |
| R2 | 8,350.30 | 0.572% |
| R1 | 8,331.50 | 0.345% |
| Price | 8,302.85 | |
| S1 | 8,270.60 | -0.388% |
| S2 | 8,251.80 | -0.615% |
| S3 | 8,221.35 | -0.98% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8,383.55 | 0.97% |
| R2 | 8,377.60 | 0.90% |
| R1 | 8,358.00 | 0.664% |
| Price | 8,302.85 | |
| S1 | 8,101.35 | -2.43% |
| S2 | 8,096.30 | -2.49% |
| S3 | 7,953.40 | -4.21% |
BAJAJHLDNG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Jul 29, 2024 | ₹21.00 | 0.253% |
| 2 | Sep 28, 2023 | Sep 28, 2023 | Sep 28, 2023 | ₹110.00 | 1.56% |
| 3 | Jun 30, 2023 | Jun 30, 2023 | Jun 30, 2023 | ₹13.00 | 0.186% |
| 4 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | ₹13.00 | 0.186% |
| 5 | Sep 22, 2022 | Sep 22, 2022 | Sep 22, 2022 | ₹110.00 | 1.59% |
FAQ
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