The Bombay Burmah Trading Corp, Ltd Stock Forecast
The Bombay Burmah Trading Corp, Ltd stock price down 3.21% on Thursday
(Updated on Jun 27, 2024)
The The Bombay Burmah Trading Corp, Ltd stock price fell by -3.21% on the last day (Thursday, 27th Jun 2024) from ₹1,948.45 to ₹1,885.90. During the last trading day the stock fluctuated 7.01% from a day low at ₹1,861.55 to a day high of ₹1,992.00. The price has fallen in 6 of the last 10 days but is still up by 12.62% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -100 thousand shares and in total, 225 thousand shares were bought and sold for approximately ₹424.28 million.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.63% during the next 3 months and, with a 90% probability hold a price between ₹1,500.86 and ₹2,154.70 at the end of this 3-month period.
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BBTC.NS Signals & Forecast
The The Bombay Burmah Trading Corp, Ltd 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 ₹1,817.05 and ₹1,600.00. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Monday, June 24, 2024, and so far it has fallen -6.38%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for The Bombay Burmah Trading Corp, Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹1,683.90 and ₹1,570.30. 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, The Bombay Burmah Trading Corp, Ltd finds support just below today's level at ₹1,683.90. If this is broken, then the next support from accumulated volume will be at ₹1,570.30 and ₹1,560.50.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹130.45 between high and low, or 7.01%. For the last week, the stock has had daily average volatility of 8.10%.
Our recommended stop-loss: ₹1,809.89 (-4.03%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (BBTC.NS) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect The Bombay Burmah Trading Corporation, Limited to open at ₹1,913.15, and during the day (based on 14 day Average True Range), to move between ₹1,800.03 and ₹1,971.77, which gives a possible trading interval of +/-₹85.87 (+/-4.55%) up or down from last closing price. If The Bombay Burmah Trading Corporation, Limited takes out the full calculated possible swing range there will be an estimated 9.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹1,943.15 (3.04%) than the support at ₹1,683.90 (10.71%), 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 The Bombay Burmah Trading Corporation, Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for The Bombay Burmah Trading Corp, Ltd stock to perform well in the short-term.
Current score: 2.492 Buy Candidate Unchanged
Predicted Opening Price for The Bombay Burmah Trading Corporation, Limited of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| ₹1,913.15 ( 1.44%) | ₹1,885.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BBTC.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2,043.60 | 8.36% |
| R2 | 1,993.77 | 5.72% |
| R1 | 1,962.98 | 4.09% |
| Price | 1,885.90 | |
| S1 | 1,863.32 | -1.20% |
| S2 | 1,832.53 | -2.83% |
| S3 | 1,782.70 | -5.47% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2,014.40 | 6.81% |
| R2 | 1,948.45 | 3.32% |
| R1 | 1,943.15 | 3.04% |
| Price | 1,885.90 | |
| S1 | 1,683.90 | -10.71% |
| S2 | 1,570.30 | -16.73% |
| S3 | 1,560.50 | -17.25% |
BBTC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 09, 2024 | Aug 09, 2024 | Sep 15, 2024 | ₹1.20 | 0.0636% |
| 2 | Sep 22, 2023 | Sep 22, 2023 | Oct 29, 2023 | ₹1.20 | 0.0823% |
| 3 | Aug 17, 2022 | Aug 17, 2022 | Aug 17, 2022 | ₹1.20 | 0.130% |
| 4 | Sep 03, 2021 | Sep 03, 2021 | Sep 03, 2021 | ₹1.20 | 0.0984% |
| 5 | Jun 25, 2020 | Jul 16, 2020 | Aug 23, 2020 | ₹1.20 | 0.0820% |
FAQ
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