Bajaj Holdings & Investment 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
Weaker technical forecast for Bajaj Holdings & Investment Limited as stock downgraded to Hold/Accumulate.
(Updated on Jun 26, 2024)
The Bajaj Holdings & Investment Limited stock price fell by -1.25% on the last day (Wednesday, 26th Jun 2024) from ₹8,611.55 to ₹8,503.60. During the last trading day the stock fluctuated 2.38% from a day low at ₹8,444.00 to a day high of ₹8,645.00. The price has fallen in 7 of the last 10 days but is still up by 1.45% over the past 2 weeks. Volume has increased on the last day by 39 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 113 thousand shares were bought and sold for approximately ₹960.54 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Bajaj Holdings & Investment Limited stock with a 90% probability to be traded between ₹7,964.33 and ₹8,870.33 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 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 ₹8,399.37 and ₹8,238.21. 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). 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 -2.54%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. 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 ₹8,101.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock 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 ₹201.00 between high and low, or 2.38%. For the last week, the stock has had daily average volatility of 3.53%.
Our recommended stop-loss: ₹8,269.69 (-2.75%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (BAJAJHLDNG.NS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Bajaj Holdings & Investment Limited to open at ₹8,530.87, and during the day (based on 14 day Average True Range), to move between ₹8,283.47 and ₹8,723.73, which gives a possible trading interval of +/-₹220.13 (+/-2.59%) 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 5.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹8,611.55 (1.27%) than the support at ₹8,101.35 (4.73%), 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?
Bajaj Holdings & Investment Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.538 Hold/Accumulate Downgraded
Predicted Opening Price for Bajaj Holdings & Investment Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₹8,530.87 ( 0.321%) | ₹8,503.60 |
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 | 8,731.87 | 2.68% |
| R2 | 8,655.08 | 1.78% |
| R1 | 8,607.65 | 1.22% |
| Price | 8,503.60 | |
| S1 | 8,454.08 | -0.582% |
| S2 | 8,406.65 | -1.14% |
| S3 | 8,329.87 | -2.04% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 8,724.80 | 2.60% |
| R1 | 8,611.55 | 1.27% |
| Price | 8,503.60 | |
| S1 | 8,101.35 | -4.73% |
| S2 | 8,096.30 | -4.79% |
| S3 | 7,953.40 | -6.47% |
BAJAJHLDNG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Jul 29, 2024 | ₹21.00 | 0.247% |
| 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% |
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