Balrampur Chini Mills Limited Stock Forecast
Balrampur Chini Mills Limited stock price ended at ₹384.20 on Friday, after gaining 1.55%.
(Updated on May 17, 2024)
The Balrampur Chini Mills Limited stock price gained 1.55% on the last trading day (Friday, 17th May 2024), rising from ₹378.35 to ₹384.20. During the last trading day the stock fluctuated 1.56% from a day low at ₹379.10 to a day high of ₹385.00. The price has been going up and down for this period, and there has been a -1.9% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 23 thousand shares were bought and sold for approximately ₹8.67 million.
The stock lies in the middle of a 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 2.73% during the next 3 months and, with a 90% probability hold a price between ₹365.05 and ₹415.20 at the end of this 3-month period.
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BALRAMCHIN.BO Signals & Forecast
The Balrampur Chini Mills Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹376.62 and ₹379.77. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical 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 Monday, April 29, 2024, and so far it has fallen -4.36%. 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).
Support, Risk & Stop-loss for Balrampur Chini Mills Limited stock
Balrampur Chini Mills Limited finds support from accumulated volume at ₹383.65 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ₹5.90 (1.56%) between high and low. For the last week, the stock has had daily average volatility of 1.66%.
Our recommended stop-loss: ₹366.10 (-4.71%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (BALRAMCHIN.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Balrampur Chini Mills Limited to open at ₹382.77, and during the day (based on 14 day Average True Range), to move between ₹374.74 and ₹393.66, which gives a possible trading interval of +/-₹9.46 (+/-2.46%) up or down from last closing price. If Balrampur Chini Mills Limited takes out the full calculated possible swing range there will be an estimated 4.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹383.65 (0.14%) than the resistance at ₹390.60 (1.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Balrampur Chini Mills Limited stock A Buy?
Balrampur Chini Mills 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: -0.271 Hold/Accumulate Unchanged
Predicted Opening Price for Balrampur Chini Mills Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹382.77 ( 0.373%) | ₹384.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BALRAMCHIN.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 388.67 | 1.16 % | |
| R2 | 386.41 | 0.576 % | ||
| R1 | 385.02 | 0.214 % | ||
| Current price: | 384.20 | |||
| Support | S1 | 380.51 | -0.96 % | |
| S2 | 379.12 | -1.32 % | ||
| S3 | 376.87 | -1.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 401.70 | 4.55 % | |
| R2 | 395.15 | 2.85 % | ||
| R1 | 390.60 | 1.67 % | ||
| Current price | 384.20 | |||
| Support | S1 | 383.65 | -0.143% | |
| S2 | 380.45 | -0.98% | ||
| S3 | 347.60 | -9.53% |
BALRAMCHIN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 20, 2023 | Nov 20, 2023 | Nov 20, 2023 | ₹3.00 | 0.674% |
| 2 | Feb 22, 2023 | Feb 22, 2023 | Mar 04, 2022 | ₹2.50 | 0.594% |
| 3 | Aug 23, 2016 | Aug 23, 2016 | Aug 30, 2017 | ₹3.50 | 2.07% |
| 4 | Jul 22, 2013 | Jul 22, 2013 | Jul 22, 2013 | ₹2.00 | 4.93% |
| 5 | Jul 07, 2011 | Jul 07, 2011 | Jul 07, 2011 | ₹0.750 | 1.16% |
FAQ
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