Balkrishna Paper Mills Limited Stock Forecast

Red day on Tuesday for Balkrishna Paper Mills Limited stock after losing 0.229%
(Updated on Jun 25, 2024)

BALKRISHNA.BO Signals & Forecast

The Balkrishna Paper Mills 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 ₹25.95 and ₹25.15. 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 Friday, June 14, 2024, and so far it has fallen -0.91%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Balkrishna Paper Mills Limited stock

Balkrishna Paper Mills Limited finds support from accumulated volume at ₹25.99 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹0.720 between high and low, or 2.78%. For the last week the stock has had daily average volatility of 3.85%.

Our recommended stop-loss: ₹25.16 (-3.61%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 14 days ago.)

Trading Expectations (BALKRISHNA.BO) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Balkrishna Paper Mills Limited to open at ₹26.21, and during the day (based on 14 day Average True Range), to move between ₹24.65 and ₹27.55, which gives a possible trading interval of +/-₹1.45 (+/-5.54%) up or down from last closing price. If Balkrishna Paper Mills Limited takes out the full calculated possible swing range there will be an estimated 11.08% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹25.99 (0.42%) than the resistance at ₹26.59 (1.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Balkrishna Paper Mills Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Balkrishna Paper Mills Limited stock to perform well in the short-term.

Current score: 2.252 Buy Candidate Unchanged

Predicted Opening Price for Balkrishna Paper Mills Limited of Wednesday, June 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.