Balkrishna Industries Limited Stock Forecast
Balkrishna Industries Limited stock price ended at ₹2,472.80 on Monday, after losing 0.200%.
(Updated on May 13, 2024)
The Balkrishna Industries Limited stock price fell by -0.200% on the last day (Monday, 13th May 2024) from ₹2,477.75 to ₹2,472.80. During the last trading day the stock fluctuated 2.57% from a day low at ₹2,427.00 to a day high of ₹2,489.45. The price has risen in 5 of the last 10 days and is up by 3.21% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -105 thousand shares and in total, 161 thousand shares were bought and sold for approximately ₹397.34 million.
The stock lies in the middle of a 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 8.16% during the next 3 months and, with a 90% probability hold a price between ₹2,568.44 and ₹2,724.73 at the end of this 3-month period.
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BALKRISIND.NS Signals & Forecast
The Balkrishna Industries 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 ₹2,459.19 and ₹2,383.67. 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, May 10, 2024, and so far it has fallen -0.200%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Balkrishna Industries Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹2,344.40 and ₹2,250.85. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Balkrishna Industries Limited finds support just below today's level at ₹2,344.40. If this is broken, then the next support from accumulated volume will be at ₹2,250.85 and ₹2,246.65.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹62.45 (2.57%) between high and low. For the last week, the stock has had daily average volatility of 2.83%.
Our recommended stop-loss: ₹2,381.90 (-3.68%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (BALKRISIND.NS) For The Upcoming Trading Day Of Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect Balkrishna Industries Limited to open at ₹2,463.08, and during the day (based on 14 day Average True Range), to move between ₹2,415.70 and ₹2,529.90, which gives a possible trading interval of +/-₹57.10 (+/-2.31%) up or down from last closing price. If Balkrishna Industries Limited takes out the full calculated possible swing range there will be an estimated 4.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹2,477.75 (0.20%) than the support at ₹2,344.40 (5.19%), 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?
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 Industries Limited stock to perform well in the short-term.
Current score: 3.590 Buy Candidate Unchanged
Predicted Opening Price for Balkrishna Industries Limited of Tuesday, May 14, 2024
| Fair opening price May 14, 2024 | Current price |
|---|---|
| ₹2,463.08 ( 0.393%) | ₹2,472.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BALKRISIND.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,525.53 | 2.13 % | |
| R2 | 2,501.68 | 1.17 % | ||
| R1 | 2,486.94 | 0.572 % | ||
| Current price: | 2,472.80 | |||
| Support | S1 | 2,439.23 | -1.36 % | |
| S2 | 2,424.49 | -1.95 % | ||
| S3 | 2,400.63 | -2.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 2,477.75 | 0.200 % | ||
| Current price | 2,472.80 | |||
| Support | S1 | 2,344.40 | -5.19% | |
| S2 | 2,250.85 | -8.98% | ||
| S3 | 2,246.65 | -9.15% |
BALKRISIND Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 02, 2024 | Feb 02, 2024 | Feb 02, 2024 | ₹0 | 0% |
| 2 | Oct 31, 2023 | Oct 31, 2023 | Oct 31, 2023 | ₹0 | 0% |
| 3 | Aug 11, 2023 | Aug 11, 2023 | Aug 11, 2023 | ₹4.00 | 0.170% |
| 4 | Jul 11, 2023 | Jul 11, 2023 | Jul 11, 2023 | ₹4.00 | 0.171% |
| 5 | Feb 17, 2023 | Feb 17, 2023 | Feb 17, 2023 | ₹4.00 | 0.197% |
FAQ
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