Bharat Bijlee Limited Stock Forecast
Green day on Wednesday for Bharat Bijlee Limited stock after gaining 3.88%
(Updated on May 29, 2024)
The Bharat Bijlee Limited stock price gained 3.88% on the last trading day (Wednesday, 29th May 2024), rising from ₹4,156.85 to ₹4,318.30. During the last trading day the stock fluctuated 5.61% from a day low at ₹4,125.00 to a day high of ₹4,356.50. The price has risen in 5 of the last 10 days and is up by 24.89% over the past 2 weeks. Volume fell on the last day by -8 thousand shares and in total, 49 thousand shares were bought and sold for approximately ₹209.45 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹4,390.75 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -37.77% during the next 3 months and, with a 90% probability hold a price between ₹1,581.09 and ₹2,732.20 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BBL.NS Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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. On corrections up, there will be some resistance from the lines at ₹4,424.00 and ₹4,411.13. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -7.37%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Bharat Bijlee Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹3,699.90 and ₹3,659.00. 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, Bharat Bijlee Limited finds support just below today's level at ₹3,699.90. If this is broken, then the next support from accumulated volume will be at ₹3,659.00 and ₹3,457.60.
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 ₹231.50 between high and low, or 5.61%. For the last week, the stock has had daily average volatility of 5.16%.
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 Thursday 30th
For the upcoming trading day on Thursday, 30th we expect Bharat Bijlee Limited to open at ₹4,266.60, and during the day (based on 14 day Average True Range), to move between ₹4,039.76 and ₹4,596.84, which gives a possible trading interval of +/-₹278.54 (+/-6.45%) up or down from last closing price. If Bharat Bijlee Limited takes out the full calculated possible swing range there will be an estimated 12.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹4,451.30 (3.08%) than the support at ₹3,699.90 (14.32%), 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 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: -4.768 Sell Candidate Unchanged
Predicted Opening Price for Bharat Bijlee Limited of Thursday, May 30, 2024
| Fair opening price May 30, 2024 | Current price |
|---|---|
| ₹4,266.60 ( 1.20%) | ₹4,318.30 |
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 | 4,498.10 | 4.16 % | |
| R2 | 4,409.67 | 2.12 % | ||
| R1 | 4,355.03 | 0.85 % | ||
| Current price: | 4,318.30 | |||
| Support | S1 | 4,178.17 | -3.25 % | |
| S2 | 4,123.53 | -4.51 % | ||
| S3 | 4,035.10 | -6.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,661.80 | 7.95 % | |
| R2 | 4,539.45 | 5.12 % | ||
| R1 | 4,451.30 | 3.08 % | ||
| Current price | 4,318.30 | |||
| Support | S1 | 3,699.90 | -14.32% | |
| S2 | 3,659.00 | -15.27% | ||
| S3 | 3,457.60 | -19.93% |
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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