Bal Pharma Limited Stock Forecast

Red day on Tuesday for Bal Pharma Limited
(Updated on Jun 25, 2024)

BALPHARMA.BO Signals & Forecast

The Bal Pharma 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 ₹118.54. On a fall, the stock will find some support from the long-term average at approximately ₹109.21. 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 Thursday, May 30, 2024, and so far it has fallen -2.78%. 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 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 Bal Pharma Limited stock

Bal Pharma Limited finds support from accumulated volume at ₹114.62 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 ₹3.95 between high and low, or 3.37%. For the last week the stock has had daily average volatility of 3.98%.

Our recommended stop-loss: ₹111.70 (-5.42%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 79 and this increases the risk substantially. There is a sell signal from a pivot top found 66 days ago.)

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

For the upcoming trading day on Wednesday, 26th we expect Bal Pharma Limited to open at ₹118.85, and during the day (based on 14 day Average True Range), to move between ₹112.40 and ₹123.80, which gives a possible trading interval of +/-₹5.70 (+/-4.83%) up or down from last closing price. If Bal Pharma Limited takes out the full calculated possible swing range there will be an estimated 9.65% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹119.85 (1.48%) than the support at ₹114.62 (2.95%), 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 Bal Pharma Limited stock A Buy?

Bal Pharma Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.790 Hold/Accumulate Unchanged

Predicted Opening Price for Bal Pharma Limited of Wednesday, June 26, 2024

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