Balgopal Commercial limited Stock Forecast
Balgopal Commercial limited stock price up 3.08% on Tuesday
(Updated on Jun 25, 2024)
The Balgopal Commercial limited stock price gained 3.08% on the last trading day (Tuesday, 25th Jun 2024), rising from ₹39.65 to ₹40.87. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 6.77% from a day low at ₹38.40 to a day high of ₹41.00. The price has risen in 7 of the last 10 days and is up by 11.06% 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, 2 thousand more shares were traded than the day before. In total, 3 thousand shares were bought and sold for approximately ₹119.38 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 12.58% during the next 3 months and, with a 90% probability hold a price between ₹38.38 and ₹51.07 at the end of this 3-month period.
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BALGOPAL.BO Signals & Forecast
The Balgopal Commercial 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 ₹37.97 and ₹37.13. 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). Balgopal Commercial limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Wednesday, May 15, 2024, and so far it has fallen -4.67%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Wednesday, October 11, 2023 in the long-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 12 Months
The stock had a Golden Star Signal on Wednesday, October 11, 2023 in the long-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 Balgopal Commercial limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹35.95 and ₹35.90. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Balgopal Commercial limited finds support just below today's level at ₹35.95. If this is broken, then the next support from accumulated volume will be at ₹35.90 and ₹31.70.
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 ₹2.60 between high and low, or 6.77%. For the last week, the stock has had daily average volatility of 4.28%.
Our recommended stop-loss: ₹38.63 (-5.49%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 39 days ago.)
Trading Expectations (BALGOPAL.BO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Balgopal Commercial limited to open at ₹40.09, and during the day (based on 14 day Average True Range), to move between ₹38.71 and ₹43.03, which gives a possible trading interval of +/-₹2.16 (+/-5.29%) up or down from last closing price. If Balgopal Commercial limited takes out the full calculated possible swing range there will be an estimated 10.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹41.50 (1.54%) than the support at ₹35.95 (12.04%), 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 Balgopal Commercial limited stock A Buy?
Balgopal Commercial limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 5.832 Strong Buy Candidate Unchanged
Predicted Opening Price for Balgopal Commercial limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹40.09 ( 1.91%) | ₹40.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BALGOPAL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 42.69 | 4.45% |
| R2 | 41.70 | 2.02% |
| R1 | 41.08 | 0.522% |
| Price | 40.87 | |
| S1 | 39.10 | -4.34% |
| S2 | 38.48 | -5.84% |
| S3 | 37.49 | -8.27% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 42.87 | 4.89% |
| R1 | 41.50 | 1.54% |
| Price | 40.87 | |
| S1 | 35.95 | -12.04% |
| S2 | 35.90 | -12.16% |
| S3 | 31.70 | -22.44% |
FAQ
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