Banco Products Stock Forecast
Green day on Thursday for Banco Products
(Updated on Apr 25, 2024)
The Banco Products stock price gained 1.73% on the last trading day (Thursday, 25th Apr 2024), rising from ₹620.55 to ₹631.30. During the last trading day the stock fluctuated 5.52% from a day low at ₹615.25 to a day high of ₹649.20. The price has been going up and down for this period, and there has been a 1.46% gain 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, 8 thousand more shares were traded than the day before. In total, 20 thousand shares were bought and sold for approximately ₹12.37 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is ₹607.71, a level that may pose a second chance to hit a runner. According to fan-theory ₹743.15 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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BANCOINDIA.BO Signals & Forecast
The Banco Products 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 ₹617.93 and ₹611.61. 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 Wednesday, April 03, 2024, and so far it has fallen -0.261%. 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 Banco Products stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹594.75 and ₹590.20. 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, Banco Products finds support just below today's level at ₹594.75. If this is broken, then the next support from accumulated volume will be at ₹590.20 and ₹522.75.
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 ₹33.95 between high and low, or 5.52%. For the last week, the stock has had daily average volatility of 3.35%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BANCOINDIA.BO) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Banco Products to open at ₹631.92, and during the day (based on 14 day Average True Range), to move between ₹604.03 and ₹658.57, which gives a possible trading interval of +/-₹27.27 (+/-4.32%) up or down from last closing price. If Banco Products takes out the full calculated possible swing range there will be an estimated 8.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹643.00 (1.85%) than the support at ₹594.75 (5.79%), 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 Banco Products stock A Buy?
Banco Products holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.088 Sell Candidate Unchanged
Predicted Opening Price for Banco Products of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| ₹631.92 ( 0.0977%) | ₹631.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BANCOINDIA.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 665.87 | 5.48 % | |
| R2 | 652.90 | 3.42 % | ||
| R1 | 644.89 | 2.15 % | ||
| Current price: | 631.30 | |||
| Support | S1 | 618.95 | -1.96 % | |
| S2 | 610.94 | -3.23 % | ||
| S3 | 597.97 | -5.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 697.10 | 10.42 % | |
| R2 | 665.20 | 5.37 % | ||
| R1 | 643.00 | 1.85 % | ||
| Current price | 631.30 | |||
| Support | S1 | 594.75 | -5.79% | |
| S2 | 590.20 | -6.51% | ||
| S3 | 522.75 | -17.19% |
BANCOINDIA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 16, 2024 | Feb 16, 2024 | Mar 06, 2024 | ₹20.00 | 3.12% |
| 2 | Sep 07, 2023 | Sep 07, 2023 | Sep 28, 2023 | ₹14.00 | 2.98% |
| 3 | Feb 24, 2023 | Feb 24, 2023 | Mar 15, 2023 | ₹8.00 | 3.36% |
| 4 | Mar 27, 2018 | Mar 27, 2018 | Apr 15, 2018 | ₹4.20 | 1.85% |
| 5 | Sep 07, 2017 | Sep 07, 2017 | Oct 23, 2017 | ₹4.00 | 1.84% |
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