Bengal & Assam Company Limited Stock Forecast
Bengal & Assam Company Limited stock downgraded to Hold/Accumulate
(Updated on Jun 25, 2024)
The Bengal & Assam Company Limited stock price fell by -1.73% on the last day (Tuesday, 25th Jun 2024) from ₹8,751.65 to ₹8,600.65. During the last trading day the stock fluctuated 5.47% from a day low at ₹8,580.20 to a day high of ₹9,049.95. The price has been going up and down for this period, and there has been a 1.52% gain for the last 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 -3 thousand shares and in total, 2 thousand shares were bought and sold for approximately ₹19.21 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 ₹7,877.17 and ₹8,862.16 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
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 ₹8,544.71 and ₹8,334.45. 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 -1.73%. 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 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.
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 ₹469.75 (5.47%) between high and low. For the last week, the stock has had daily average volatility of 5.21%.
Our recommended stop-loss: ₹8,269.31 (-3.85%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (BENGALASM.BO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Bengal & Assam Company Limited to open at ₹8,743.60, and during the day (based on 14 day Average True Range), to move between ₹8,240.32 and ₹8,960.98, which gives a possible trading interval of +/-₹360.33 (+/-4.19%) 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 8.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹8,721.15 (1.40%) than the support at ₹8,270.45 (3.84%), 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?
Bengal & Assam Company Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: 0.220 Hold/Accumulate Downgraded
Predicted Opening Price for Bengal & Assam Company Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹8,743.60 ( 1.66%) | ₹8,600.65 |
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 | 9,213.35 | 7.12% |
| R2 | 9,033.91 | 5.04% |
| R1 | 8,923.04 | 3.75% |
| Price | 8,600.65 | |
| S1 | 8,564.16 | -0.424% |
| S2 | 8,453.29 | -1.71% |
| S3 | 8,273.85 | -3.80% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8,751.65 | 1.76% |
| R2 | 8,736.75 | 1.58% |
| R1 | 8,721.15 | 1.40% |
| Price | 8,600.65 | |
| S1 | 8,270.45 | -3.84% |
| S2 | 8,184.95 | -4.83% |
| S3 | 8,125.80 | -5.52% |
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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