Balkrishna Paper Mills Limited Stock Forecast
Balkrishna Paper Mills Limited stock price ended at ₹26.24 on Wednesday, after gaining 0.344%.
(Updated on Jul 03, 2024)
The Balkrishna Paper Mills Limited stock price gained 0.344% on the last trading day (Wednesday, 3rd Jul 2024), rising from ₹26.15 to ₹26.24. During the last trading day the stock fluctuated 5.23% from a day low at ₹25.61 to a day high of ₹26.95. The price has fallen in 6 of the last 10 days but is still up by 1.35% over the past 2 weeks. Volume fell on the last day by -208 thousand shares and in total, 236 thousand shares were bought and sold for approximately ₹6.18 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and weak 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 2.53% during the next 3 months and, with a 90% probability hold a price between ₹21.93 and ₹30.29 at the end of this 3-month period.
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BALKRISHNA.NS Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -0.152%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 ₹25.40 and ₹25.20. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Balkrishna Paper Mills Limited stock
Balkrishna Paper Mills Limited finds support from accumulated volume at ₹26.20 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 ₹1.34 between high and low, or 5.23%. For the last week, the stock has had daily average volatility of 6.92%.
Our recommended stop-loss: ₹25.32 (-3.50%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (BALKRISHNA.NS) For The Upcoming Trading Day Of Thursday 4th
For the upcoming trading day on Thursday, 4th we expect Balkrishna Paper Mills Limited to open at ₹26.27, and during the day (based on 14 day Average True Range), to move between ₹24.62 and ₹27.86, which gives a possible trading interval of +/-₹1.62 (+/-6.16%) 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 12.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹26.20 (0.15%) than the resistance at ₹26.55 (1.18%), 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: 1.638 Buy Candidate Unchanged
Predicted Opening Price for Balkrishna Paper Mills Limited of Thursday, July 4, 2024
| Fair opening price July 4, 2024 | Current price |
|---|---|
| ₹26.27 ( 0.102%) | ₹26.24 |
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 | |
|---|---|---|
| R3 | 27.61 | 5.21% |
| R2 | 27.09 | 3.26% |
| R1 | 26.78 | 2.05% |
| Price | 26.24 | |
| S1 | 25.75 | -1.85% |
| S2 | 25.44 | -3.05% |
| S3 | 24.93 | -5.01% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 27.50 | 4.80% |
| R2 | 26.90 | 2.52% |
| R1 | 26.55 | 1.18% |
| Price | 26.24 | |
| S1 | 26.20 | -0.152% |
| S2 | 26.15 | -0.343% |
| S3 | 21.60 | -17.68% |
FAQ
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