Bengal & Assam Company Limited Stock Forecast
Green day on Friday for Bengal & Assam Company Limited
(Updated on Jun 14, 2024)
The Bengal & Assam Company Limited stock price gained 0.284% on the last trading day (Friday, 14th Jun 2024), rising from ₹8,514.45 to ₹8,538.65. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.92% from a day low at ₹8,375.05 to a day high of ₹8,620.00. The price has risen in 6 of the last 10 days and is up by 4.32% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately ₹16.49 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Bengal & Assam Company Limited stock with a 90% probability to be traded between ₹8,105.35 and ₹9,252.46 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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BENGALASM.BO Signals & Forecast
Mostly positive signals in the chart today. The Bengal & Assam Company Limited 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 ₹8,426.14 and ₹8,301.47. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 03, 2024, and so far it has risen 7.59%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy 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 Bengal & Assam Company Limited stock
Bengal & Assam Company Limited finds support from accumulated volume at ₹8,270.45 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹244.95 between high and low, or 2.92%. For the last week the stock has had daily average volatility of 2.65%.
Our recommended stop-loss: ₹8,198.81 (-3.98%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 46 days ago.)
Trading Expectations (BENGALASM.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Bengal & Assam Company Limited to open at ₹8,511.23, and during the day (based on 14 day Average True Range), to move between ₹8,211.03 and ₹8,866.27, which gives a possible trading interval of +/-₹327.62 (+/-3.84%) up or down from last closing price. If Bengal & Assam Company Limited takes out the full calculated possible swing range there will be an estimated 7.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹8,546.75 (0.09%) than the support at ₹8,270.45 (3.14%), 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 Bengal & Assam Company Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Bengal & Assam Company Limited stock to perform well in the short-term period.
Current score: 4.762 Buy Candidate Unchanged
Predicted Opening Price for Bengal & Assam Company Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹8,511.23 ( 0.321%) | ₹8,538.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BENGALASM.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8,756.18 | 2.55% |
| R2 | 8,662.61 | 1.45% |
| R1 | 8,604.80 | 0.775% |
| Price | 8,538.65 | |
| S1 | 8,417.66 | -1.42% |
| S2 | 8,359.85 | -2.09% |
| S3 | 8,266.28 | -3.19% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8,736.75 | 2.32% |
| R2 | 8,721.15 | 2.14% |
| R1 | 8,546.75 | 0.0949% |
| Price | 8,538.65 | |
| S1 | 8,270.45 | -3.14% |
| S2 | 8,125.80 | -4.84% |
| S3 | 7,674.05 | -10.13% |
BENGALASM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 05, 2023 | Sep 05, 2023 | Oct 12, 2023 | ₹25.00 | 0.424% |
| 2 | Aug 30, 2022 | Aug 30, 2022 | Oct 08, 2022 | ₹15.00 | 0.500% |
| 3 | Aug 30, 2021 | Aug 30, 2021 | Oct 08, 2021 | ₹7.50 | 0.322% |
| 4 | Mar 23, 2020 | Mar 23, 2020 | Apr 15, 2020 | ₹15.00 | 1.33% |
| 5 | Aug 19, 2019 | Aug 19, 2019 | Sep 26, 2019 | ₹10.00 | 0.730% |
FAQ
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