Bharat Bijlee Limited Stock Forecast
Bharat Bijlee Limited stock price ended at ₹3,153.30 on Tuesday, after losing 4.32%.
(Updated on May 07, 2024)
The Bharat Bijlee Limited stock price fell by -4.32% on the last day (Tuesday, 7th May 2024) from ₹3,295.70 to ₹3,153.30. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 6.08% from a day low at ₹3,129.70 to a day high of ₹3,320.00. The price has fallen in 6 of the last 10 days and is down by -53.59% for this period. Volume has increased on the last day by 25 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 63 thousand shares were bought and sold for approximately ₹200.11 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹2,940.70 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -17.95% during the next 3 months and, with a 90% probability hold a price between ₹2,412.93 and ₹5,375.76 at the end of this 3-month period.
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BBL.NS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 0.584%. Further rise is indicated until a new top pivot has been found. 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 sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹3,252.88 and ₹5,386.92. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Bharat Bijlee Limited stock
Bharat Bijlee Limited finds support from accumulated volume at ₹3,135.00 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 ₹190.30 between high and low, or 6.08%. For the last week, the stock has had daily average volatility of 3.49%.
Bharat Bijlee Limited is oversold on RSI14 (7). 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.NS) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Bharat Bijlee Limited to open at ₹3,201.00, and during the day (based on 14 day Average True Range), to move between ₹2,834.49 and ₹3,472.11, which gives a possible trading interval of +/-₹318.81 (+/-10.11%) up or down from last closing price. If Bharat Bijlee Limited takes out the full calculated possible swing range there will be an estimated 20.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹3,135.00 (0.58%) than the resistance at ₹3,231.95 (2.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bharat Bijlee Limited stock A Buy?
Bharat Bijlee Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.835 Sell Candidate Unchanged
Predicted Opening Price for Bharat Bijlee Limited of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| ₹3,201.00 ( 1.51%) | ₹3,153.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BBL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,391.30 | 7.55 % | |
| R2 | 3,318.61 | 5.24 % | ||
| R1 | 3,273.69 | 3.82 % | ||
| Current price: | 3,153.30 | |||
| Support | S1 | 3,128.31 | -0.793 % | |
| S2 | 3,083.39 | -2.22 % | ||
| S3 | 3,010.70 | -4.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,320.90 | 5.32 % | |
| R2 | 3,244.45 | 2.89 % | ||
| R1 | 3,231.95 | 2.49 % | ||
| Current price | 3,153.30 | |||
| Support | S1 | 3,135.00 | -0.580% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
BBL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 20, 2022 | Sep 20, 2022 | Sep 20, 2022 | ₹10.00 | 1.02% |
| 2 | Sep 19, 2022 | Sep 19, 2022 | Sep 19, 2022 | ₹10.00 | 1.03% |
| 3 | Sep 15, 2021 | Sep 15, 2021 | Sep 15, 2021 | ₹5.00 | 0.718% |
| 4 | Feb 25, 2020 | Mar 05, 2020 | Mar 13, 2020 | ₹12.50 | 4.14% |
| 5 | May 06, 2019 | Aug 29, 2019 | Sep 10, 2019 | ₹12.50 | 2.82% |
FAQ
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