Balgopal Commercial 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
Balgopal Commercial limited stock price up 5.00% on Friday
(Updated on Jun 28, 2024)
The Balgopal Commercial limited stock price gained 5.00% on the last trading day (Friday, 28th Jun 2024), rising from ₹49.44 to ₹51.91. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 5.00% from a day low at ₹49.44 to a day high of ₹51.91. The price has risen in 9 of the last 10 days and is up by 44.52% 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, 4 thousand more shares were traded than the day before. In total, 13 thousand shares were bought and sold for approximately ₹672.86 thousand.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ₹47.22, a level that may pose a second chance to hit a runner. According to fan-theory ₹56.13 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
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 ₹43.19 and ₹38.34. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 22, 2024, and so far it has risen 49.77%. 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). 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. 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
Balgopal Commercial limited finds support from accumulated volume at ₹49.44 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹2.47 between high and low, or 5.00%. For the last week, the stock has had daily average volatility of 6.75%.
The Balgopal Commercial limited stock is extremely overbought on RSI14 (86). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken. Since the Balgopal Commercial limited has been rising for 7 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: ₹50.21 (-3.28%) (This stock has high daily movements and this gives high risk. The RSI14 is 86 and this increases the risk substantially. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (BALGOPAL.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Balgopal Commercial limited to open at ₹51.09, and during the day (based on 14 day Average True Range), to move between ₹49.45 and ₹54.37, which gives a possible trading interval of +/-₹2.46 (+/-4.74%) up or down from last closing price. If Balgopal Commercial limited takes out the full calculated possible swing range there will be an estimated 9.48% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹49.44, some ₹2.47 (4.76%) from the current price of ₹51.91, our system finds the risk reward attractive.
Is Balgopal Commercial limited stock A Buy?
Balgopal Commercial 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Balgopal Commercial limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹51.09 ( 1.59%) | ₹51.91 |
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 | 53.56 | 3.17% |
| R2 | 52.61 | 1.35% |
| R1 | 52.03 | 0.232% |
| Price | 51.91 | |
| S1 | 50.14 | -3.40% |
| S2 | 49.56 | -4.53% |
| S3 | 48.62 | -6.34% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 51.91 | |
| S1 | 49.44 | -4.76% |
| S2 | 44.95 | -13.41% |
| S3 | 41.50 | -20.05% |
FAQ
Click here for our free guide on how to buy Balgopal Commercial limited Stock.
