Bharat Bijlee Limited Stock Forecast

On Wednesday, Bharat Bijlee Limited stock price gained an impressive 5.51%
(Updated on May 08, 2024)

BBL.BO Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 6.27%. Further rise is indicated until a new top pivot has been found. 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. The Bharat Bijlee Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹5,279.37. On a fall, the stock will find some support from the short-term average at ₹3,265.46. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Bharat Bijlee Limited stock

Bharat Bijlee Limited finds support from accumulated volume at ₹3,311.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₹277.20 between high and low, or 8.83%. For the last week, the stock has had daily average volatility of 4.80%.

Bharat Bijlee Limited is oversold on RSI14 (11). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (BBL.BO) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect Bharat Bijlee Limited to open at ₹3,294.85, and during the day (based on 14 day Average True Range), to move between ₹2,989.21 and ₹3,664.89, which gives a possible trading interval of +/-₹337.84 (+/-10.15%) up or down from last closing price. If Bharat Bijlee Limited takes out the full calculated possible swing range there will be an estimated 20.31% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ₹3,311.80, some ₹15.25 (0.46%) from the current price of ₹3,327.05, our system finds the risk reward attractive.

Is Bharat Bijlee Limited stock A Buy?

Bharat Bijlee Limited 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: -2.483 Sell Candidate Unchanged

Predicted Opening Price for Bharat Bijlee Limited of Thursday, May 9, 2024

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