Balaji Telefilms Limited Stock Forecast
Balaji Telefilms Limited stock upgraded to Hold/Accumulate.
(Updated on Jun 14, 2024)
The Balaji Telefilms Limited stock price fell by -0.89% on the last day (Friday, 14th Jun 2024) from ₹68.51 to ₹67.90. During the last trading day the stock fluctuated 3.63% from a day low at ₹67.50 to a day high of ₹69.95. The price has been going up and down for this period, and there has been a 5.03% gain for the last 2 weeks. Volume has increased on the last day by 143 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, 298 thousand shares were bought and sold for approximately ₹20.21 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -19.18% during the next 3 months and, with a 90% probability hold a price between ₹46.42 and ₹59.21 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
A buy signal was issued from a pivot bottom point on Wednesday, June 05, 2024, and so far it has risen 14.31%. 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. The Balaji Telefilms Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹70.69. On a fall, the stock will find some support from the short-term average at ₹67.22. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
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 ₹2.45 between high and low, or 3.63%. For the last week, the stock has had daily average volatility of 4.95%.
Our recommended stop-loss: ₹65.82 (-3.06%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 50 days ago.)
Trading Expectations (BALAJITELE.NS) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Balaji Telefilms Limited to open at ₹68.45, and during the day (based on 14 day Average True Range), to move between ₹64.78 and ₹71.02, which gives a possible trading interval of +/-₹3.12 (+/-4.59%) up or down from last closing price. If Balaji Telefilms Limited takes out the full calculated possible swing range there will be an estimated 9.19% 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 (0.43%) than the resistance at ₹68.55 (0.96%), 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 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.486 Hold/Accumulate Upgraded
Predicted Opening Price for Balaji Telefilms Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹68.45 ( 0.81%) | ₹67.90 |
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 | 70.90 | 4.42% |
| R2 | 69.96 | 3.04% |
| R1 | 69.39 | 2.19% |
| Price | 67.90 | |
| S1 | 67.51 | -0.568% |
| S2 | 66.94 | -1.42% |
| S3 | 66.00 | -2.80% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 81.65 | 20.25% |
| R2 | 75.35 | 10.97% |
| R1 | 68.55 | 0.96% |
| Price | 67.90 | |
| S1 | 67.61 | -0.427% |
| S2 | 66.47 | -2.11% |
| S3 | 59.40 | -12.52% |
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% |
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