Balkrishna Industries Limited Stock Forecast
Evaluation of Balkrishna Industries Limited stock downgraded after the last trading session.
(Updated on Jun 25, 2024)
The Balkrishna Industries Limited stock price fell by -1.26% on the last day (Tuesday, 25th Jun 2024) from ₹3,224.25 to ₹3,183.55. During the last trading day the stock fluctuated 2.07% from a day low at ₹3,171.00 to a day high of ₹3,236.50. The price has fallen in 6 of the last 10 days and is down by -1.9% for this period. Volume has increased on the last day by 1 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, 5 thousand shares were bought and sold for approximately ₹16.18 million.
The stock lies in the middle of a 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 53.09% during the next 3 months and, with a 90% probability hold a price between ₹4,693.69 and ₹5,286.21 at the end of this 3-month period.
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BALKRISIND.BO Signals & Forecast
The Balkrishna Industries Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹3,259.68. On a fall, the stock will find some support from the long-term average at approximately ₹2,965.24. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Tuesday, June 18, 2024, and so far it has fallen -4.96%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Balkrishna Industries Limited stock
Balkrishna Industries Limited finds support from accumulated volume at ₹3,112.10 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 ₹65.50 between high and low, or 2.07%. For the last week, the stock has had daily average volatility of 2.79%.
Our recommended stop-loss: ₹3,079.90 (-3.26%) (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 (BALKRISIND.BO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Balkrishna Industries Limited to open at ₹3,197.02, and during the day (based on 14 day Average True Range), to move between ₹3,087.26 and ₹3,279.84, which gives a possible trading interval of +/-₹96.29 (+/-3.02%) up or down from last closing price. If Balkrishna Industries Limited takes out the full calculated possible swing range there will be an estimated 6.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹3,203.35 (0.62%) than the support at ₹3,112.10 (2.24%), 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 Balkrishna Industries Limited stock A Buy?
Balkrishna Industries Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.942 Hold/Accumulate Downgraded
Predicted Opening Price for Balkrishna Industries Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹3,197.02 ( 0.423%) | ₹3,183.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BALKRISIND.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,262.52 | 2.48% |
| R2 | 3,237.50 | 1.69% |
| R1 | 3,222.04 | 1.21% |
| Price | 3,183.55 | |
| S1 | 3,172.00 | -0.363% |
| S2 | 3,156.54 | -0.85% |
| S3 | 3,131.52 | -1.63% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,245.25 | 1.94% |
| R2 | 3,217.25 | 1.06% |
| R1 | 3,203.35 | 0.622% |
| Price | 3,183.55 | |
| S1 | 3,112.10 | -2.24% |
| S2 | 3,051.90 | -4.14% |
| S3 | 3,040.55 | -4.49% |
BALKRISIND Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 02, 2024 | Feb 02, 2024 | Feb 23, 2024 | ₹4.00 | 0.171% |
| 2 | Oct 31, 2023 | Oct 31, 2023 | Nov 20, 2023 | ₹4.00 | 0.160% |
| 3 | Aug 11, 2023 | Aug 11, 2023 | Sep 04, 2023 | ₹4.00 | 0.168% |
| 4 | Jul 11, 2023 | Jul 11, 2023 | Aug 21, 2023 | ₹4.00 | 0.168% |
| 5 | Feb 17, 2023 | Feb 17, 2023 | Mar 13, 2023 | ₹4.00 | 0.203% |
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