Balaji Telefilms Limited Stock Forecast
Green day on Wednesday for Balaji Telefilms Limited
(Updated on Jun 26, 2024)
The Balaji Telefilms Limited stock price gained 0.148% on the last trading day (Wednesday, 26th Jun 2024), rising from ₹67.65 to ₹67.75. During the last trading day the stock fluctuated 2.31% from a day low at ₹67.10 to a day high of ₹68.65. The price has risen in 6 of the last 10 days and is up by 1.93% over the past 2 weeks. Volume fell on the last day by -84 thousand shares and in total, 146 thousand shares were bought and sold for approximately ₹9.92 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 ₹70.38 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 -20.19% during the next 3 months and, with a 90% probability hold a price between ₹44.20 and ₹56.17 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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BALAJITELE.NS Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Balaji Telefilms Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹68.44 and ₹68.51. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -5.28%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Balaji Telefilms Limited stock
Balaji Telefilms Limited finds support from accumulated volume at ₹67.61 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 ₹1.55 between high and low, or 2.31%. For the last week, the stock has had daily average volatility of 4.76%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BALAJITELE.NS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Balaji Telefilms Limited to open at ₹67.83, and during the day (based on 14 day Average True Range), to move between ₹64.59 and ₹70.91, which gives a possible trading interval of +/-₹3.16 (+/-4.67%) up or down from last closing price. If Balaji Telefilms Limited takes out the full calculated possible swing range there will be an estimated 9.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹67.61 (0.21%) than the resistance at ₹68.55 (1.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Balaji Telefilms Limited stock A Buy?
Balaji Telefilms Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.881 Sell Candidate Unchanged
Predicted Opening Price for Balaji Telefilms Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₹67.83 ( 0.123%) | ₹67.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BALAJITELE.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 69.38 | 2.41% |
| R2 | 68.79 | 1.54% |
| R1 | 68.43 | 1.00% |
| Price | 67.75 | |
| S1 | 67.24 | -0.751% |
| S2 | 66.88 | -1.29% |
| S3 | 66.28 | -2.16% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 75.35 | 11.22% |
| R2 | 71.53 | 5.58% |
| R1 | 68.55 | 1.18% |
| Price | 67.75 | |
| S1 | 67.61 | -0.207% |
| S2 | 66.47 | -1.89% |
| S3 | 59.40 | -12.32% |
BALAJITELE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 23, 2021 | Aug 23, 2021 | Aug 23, 2021 | ₹0.200 | 0.346% |
| 2 | Feb 12, 2020 | Feb 24, 2020 | Mar 13, 2020 | ₹0.400 | 1.05% |
| 3 | May 22, 2019 | Aug 22, 2019 | Sep 04, 2019 | ₹0.400 | 0.744% |
| 4 | May 20, 2018 | Aug 23, 2018 | Sep 30, 2018 | ₹0.400 | 0.378% |
| 5 | May 23, 2017 | Aug 23, 2017 | Sep 30, 2017 | ₹0.400 | 0.262% |
FAQ
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