Basant Agro Tech Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Basant Agro Tech stock upgraded to Hold/Accumulate.
(Updated on May 31, 2024)
The Basant Agro Tech stock price gained 2.50% on the last trading day (Friday, 31st May 2024), rising from ₹20.02 to ₹20.52. During the last trading day the stock fluctuated 9.14% from a day low at ₹20.02 to a day high of ₹21.85. The price has fallen in 7 of the last 10 days but is still up by 4.06% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 95 thousand more shares were traded than the day before. In total, 195 thousand shares were bought and sold for approximately ₹4.00 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Basant Agro Tech stock with a 90% probability to be traded between ₹17.94 and ₹22.10 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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BASANTGL.BO Signals & Forecast
The Basant Agro Tech 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 ₹20.85. On a fall, the stock will find some support from the long-term average at approximately ₹20.05. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Thursday, May 23, 2024, and so far it has fallen -7.57%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Basant Agro Tech stock
Basant Agro Tech finds support from accumulated volume at ₹20.02 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 ₹1.83 between high and low, or 9.14%. For the last week, the stock has had daily average volatility of 7.33%.
Our recommended stop-loss: ₹19.33 (-5.78%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 40 days ago.)
Trading Expectations (BASANTGL.BO) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Basant Agro Tech to open at ₹20.80, and during the day (based on 14 day Average True Range), to move between ₹19.40 and ₹21.64, which gives a possible trading interval of +/-₹1.12 (+/-5.44%) up or down from last closing price. If Basant Agro Tech takes out the full calculated possible swing range there will be an estimated 10.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹20.86 (1.66%) than the support at ₹20.02 (2.44%), 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 Basant Agro Tech stock A Buy?
Basant Agro Tech 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.101 Hold/Accumulate Upgraded
Predicted Opening Price for Basant Agro Tech of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ₹20.80 ( 1.35%) | ₹20.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BASANTGL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.63 | 10.27 % | |
| R2 | 21.93 | 6.86 % | ||
| R1 | 21.50 | 4.76 % | ||
| Current price: | 20.52 | |||
| Support | S1 | 20.10 | -2.06 % | |
| S2 | 19.67 | -4.16 % | ||
| S3 | 18.97 | -7.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.20 | 8.19 % | |
| R2 | 21.32 | 3.90 % | ||
| R1 | 20.86 | 1.66 % | ||
| Current price | 20.52 | |||
| Support | S1 | 20.02 | -2.44% | |
| S2 | 18.99 | -7.46% | ||
| S3 | 18.95 | -7.65% |
BASANTGL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 22, 2023 | Sep 22, 2023 | Oct 30, 2023 | ₹0.0800 | 0.364% |
| 2 | Sep 22, 2022 | Sep 22, 2022 | Oct 30, 2022 | ₹0.0800 | 0.380% |
| 3 | Sep 20, 2021 | Sep 20, 2021 | Oct 28, 2021 | ₹0.0600 | 0.497% |
| 4 | Sep 22, 2020 | Sep 22, 2020 | Oct 30, 2020 | ₹0.0500 | 0.97% |
| 5 | Sep 25, 2019 | Sep 25, 2019 | Oct 30, 2019 | ₹0.0500 | 1.52% |
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