Bedmutha Industries Limited Stock Forecast
Green day on Tuesday for Bedmutha Industries Limited stock after gaining 0.92%
(Updated on Apr 23, 2024)
The Bedmutha Industries Limited stock price gained 0.92% on the last trading day (Tuesday, 23rd Apr 2024), rising from ₹200.20 to ₹202.05. During the last trading day the stock fluctuated 3.73% from a day low at ₹198.50 to a day high of ₹205.90. The price has been going up and down for this period, and there has been a -3.07% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 42 more shares were traded than the day before. In total, 9 thousand shares were bought and sold for approximately ₹1.84 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is ₹187.53, a level that may pose a second chance to hit a runner. According to fan-theory ₹226.07 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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BEDMUTHA.NS Signals & Forecast
There are mixed signals in the stock today. The Bedmutha Industries 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 ₹216.82. On a fall, the stock will find some support from the short-term average at ₹201.84. 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. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -10.74%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell 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.
Support, Risk & Stop-loss for Bedmutha Industries Limited stock
Bedmutha Industries Limited finds support from accumulated volume at ₹200.20 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 ₹7.40 between high and low, or 3.73%. For the last week, the stock has had daily average volatility of 4.43%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BEDMUTHA.NS) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Bedmutha Industries Limited to open at ₹202.15, and during the day (based on 14 day Average True Range), to move between ₹191.97 and ₹212.13, which gives a possible trading interval of +/-₹10.08 (+/-4.99%) up or down from last closing price. If Bedmutha Industries Limited takes out the full calculated possible swing range there will be an estimated 9.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹200.20 (0.92%) than the resistance at ₹213.25 (5.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Bedmutha Industries Limited will release earnings BMO on Tuesday, April 30, 2024. We will update the financials statements for Bedmutha Industries Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.89% in the first trading day after earnings release.
Is Bedmutha Industries Limited stock A Buy?
Bedmutha Industries 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: -2.602 Sell Candidate Unchanged
Predicted Opening Price for Bedmutha Industries Limited of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| ₹202.15 ( 0.0495%) | ₹202.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BEDMUTHA.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 209.55 | 3.71 % | |
| R2 | 206.72 | 2.31 % | ||
| R1 | 204.98 | 1.45 % | ||
| Current price: | 202.05 | |||
| Support | S1 | 199.32 | -1.35 % | |
| S2 | 197.58 | -2.21 % | ||
| S3 | 194.75 | -3.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 238.75 | 18.16 % | |
| R2 | 226.35 | 12.03 % | ||
| R1 | 213.25 | 5.54 % | ||
| Current price | 202.05 | |||
| Support | S1 | 200.20 | -0.92% | |
| S2 | 200.05 | -0.99% | ||
| S3 | 199.45 | -1.29% |
FAQ
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