BEML Limited Stock Forecast
High volatility in BEML Limited stock price on Thursday which ended trading at ₹3,197.70
(Updated on May 09, 2024)
The BEML Limited stock price fell by -5.10% on the last day (Thursday, 9th May 2024) from ₹3,369.45 to ₹3,197.70. During the last trading day the stock fluctuated 10.38% from a day low at ₹3,131.70 to a day high of ₹3,456.65. The price has fallen in 6 of the last 10 days and is down by -11.42% for this period. Volume has increased on the last day by 4 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, 14 thousand shares were bought and sold for approximately ₹43.99 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹3,079.66 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 16.90% during the next 3 months and, with a 90% probability hold a price between ₹3,600.19 and ₹4,469.01 at the end of this 3-month period.
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BEML.BO Signals & Forecast
There are few to no technical positive signals at the moment. The BEML 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 ₹3,413.12 and ₹3,292.23. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -11.43%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for BEML Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹2,883.35 and ₹2,771.00. 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, BEML Limited finds support just below today's level at ₹2,883.35. If this is broken, then the next support from accumulated volume will be at ₹2,771.00 and ₹2,770.65.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹324.95 (10.38%) between high and low. For the last week, the stock has had daily average volatility of 5.96%.
Our recommended stop-loss: ₹3,028.86 (-5.28%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (BEML.BO) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect BEML Limited to open at ₹3,262.02, and during the day (based on 14 day Average True Range), to move between ₹3,056.76 and ₹3,338.64, which gives a possible trading interval of +/-₹140.94 (+/-4.41%) up or down from last closing price. If BEML Limited takes out the full calculated possible swing range there will be an estimated 8.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹3,225.05 (0.86%) than the support at ₹2,883.35 (9.83%), 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.
Earnings coming up
BEML Limited will release earnings BMO on Sunday, May 12, 2024. We will update the financials statements for BEML Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.17% in the first trading day after earnings release.
Is BEML Limited stock A Buy?
BEML Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.124 Hold/Accumulate Downgraded
Predicted Opening Price for BEML Limited of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| ₹3,262.02 ( 2.01%) | ₹3,197.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BEML.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,586.97 | 12.17 % | |
| R2 | 3,462.84 | 8.29 % | ||
| R1 | 3,386.15 | 5.89 % | ||
| Current price: | 3,197.70 | |||
| Support | S1 | 3,137.89 | -1.87 % | |
| S2 | 3,061.20 | -4.27 % | ||
| S3 | 2,937.07 | -8.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,553.85 | 11.14 % | |
| R2 | 3,378.70 | 5.66 % | ||
| R1 | 3,225.05 | 0.86 % | ||
| Current price | 3,197.70 | |||
| Support | S1 | 2,883.35 | -9.83% | |
| S2 | 2,771.00 | -13.34% | ||
| S3 | 2,770.65 | -13.35% |
BEML Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 16, 2024 | Feb 16, 2024 | Mar 09, 2024 | ₹5.00 | 0.156% |
| 2 | Sep 20, 2023 | Sep 20, 2023 | Oct 27, 2023 | ₹5.00 | 0.249% |
| 3 | Feb 24, 2023 | Feb 24, 2023 | Mar 12, 2023 | ₹5.00 | 0.428% |
| 4 | Sep 13, 2017 | Sep 13, 2017 | Oct 21, 2017 | ₹8.00 | 0.473% |
| 5 | Sep 07, 2016 | Sep 07, 2016 | Sep 07, 2016 | ₹4.00 | 0.370% |
FAQ
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