Balkrishna Paper Mills Limited Stock Forecast
Balkrishna Paper Mills Limited stock price down 4.89% on Friday
(Updated on May 10, 2024)
The Balkrishna Paper Mills Limited stock price fell by -4.89% on the last day (Friday, 10th May 2024) from ₹24.55 to ₹23.35. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 0% from a day low at ₹23.35 to a day high of ₹23.35. The price has fallen in 5 of the last 10 days and is down by -5.85% for this period. Volume has increased on the last day by 4 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, 19 thousand shares were bought and sold for approximately ₹444.21 thousand.
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 -39.71% during the next 3 months and, with a 90% probability hold a price between ₹11.37 and ₹16.60 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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BALKRISHNA.NS Signals & Forecast
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 Balkrishna Paper Mills Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹26.75 and ₹25.18. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -19.62%. Further fall is indicated until a new bottom pivot has been found. Balkrishna Paper Mills Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Balkrishna Paper Mills Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 ₹0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 1.56%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BALKRISHNA.NS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Balkrishna Paper Mills Limited to open at ₹23.35, and during the day (based on 14 day Average True Range), to move between ₹22.29 and ₹24.41, which gives a possible trading interval of +/-₹1.06 (+/-4.55%) 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 9.10% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ₹27.15, some ₹3.80 (16.27%) from the current price of ₹23.35, our system finds the risk reward not very attractive.
Earnings coming up
Balkrishna Paper Mills Limited will release earnings BMO on Monday, May 13, 2024. We will update the financials statements for Balkrishna Paper Mills Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.60% in the first trading day after earnings release.
Is Balkrishna Paper Mills Limited stock A Buy?
Balkrishna Paper Mills 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: -4.977 Sell Candidate Unchanged
Predicted Opening Price for Balkrishna Paper Mills Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ₹23.35 ( 0.00000000%) | ₹23.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BALKRISHNA.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.35 | 0.00000000 % | |
| R2 | 23.35 | 0.00000000 % | ||
| R1 | 23.35 | 0.00000000 % | ||
| Current price: | 23.35 | |||
| Support | S1 | 23.35 | 0.00000000 % | |
| S2 | 23.35 | 0.00000000 % | ||
| S3 | 23.35 | 0.00000000 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.05 | 24.41 % | |
| R2 | 27.30 | 16.92 % | ||
| R1 | 27.15 | 16.27 % | ||
| Current price | 23.35 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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