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Bhansali Engineering Polymers Limited Stock Forecast

XBOM:BEPL BUY

₹112.40 (0.81%)

Volume: 20.097k

Closed: Aug 05, 2022

Hollow Logo Score: 0.456

Bhansali Engineering Polymers Limited Stock Forecast

BUY XBOM:BEPL
₹112.40 (0.81%)

Volume: 20.097k

Closed: Aug 05, 2022

Score Hollow Logo 0.456
Which way will BEPL.BO go? Request
Fri, Aug 05, 2022 Hold/Accumulate
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSI min/max Values: [ 25 - 80 ] RSI14 is 63 and the stock is currently not being overbought or oversold
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Green day on Friday for Bhansali Engineering Polymers Limited stock after gaining 0.81%
(Updated on Aug 05, 2022)


Hold candidate since 2022-08-04 Gain 0.81% PDF

The Bhansali Engineering Polymers Limited stock price gained 0.81% on the last trading day (Friday, 5th Aug 2022), rising from ₹111.50 to ₹112.40. , and 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 2.52% from a day low at ₹111.00 to a day high of ₹113.80. The price has risen in 7 of the last 10 days and is up by 4.95% over the past 2 weeks. Volume fell on the last day by -5 thousand shares and in total, 20 thousand shares were bought and sold for approximately ₹2.26 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹114.06 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -4.65% during the next 3 months and, with a 90% probability hold a price between ₹91.76 and ₹108.75 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, July 12, 2022, and so far it has fallen -2.77%. 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). The Bhansali Engineering Polymers 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 ₹110.54 and ₹108.82. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss

Bhansali Engineering Polymers Limited finds support from accumulated volume at ₹107.15 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 ₹2.80 between high and low, or 2.52%. For the last week, the stock has had a daily average volatility of 3.83%.

Our recommended stop-loss: ₹108.63 (-3.35%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 18 days ago.)

Trading Expectations For The Upcoming Trading Day Of Monday 8th

For the upcoming trading day on Monday 8th we expect Bhansali Engineering Polymers Limited to open at ₹112.40, and during day (based on 14 day Average True Range), to move between ₹108.56 and ₹116.24, which gives a possible trading interval of +/-₹3.84 (+/-3.42%) up or down from last closing price. If Bhansali Engineering Polymers Limited takes out the full calculated possible swing range there will be an estimated 6.83% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹116.40 (3.56%) than the support at ₹107.15 (4.67%), our systems don't find the trading risk/reward intra-day attractive and any bets should be hold until the stock is closer to the support level.

Is Bhansali Engineering Polymers Limited stock A Buy?

Bhansali Engineering Polymers 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.

Current score: 0.456

Hold/Accumulate Unchanged

Predicted Opening Price for Bhansali Engineering Polymers Limited of Monday, August 8, 2022

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price August 8, 2022 Current price
₹112.40 ₹112.40 (Undervalued)

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Fibonacci Support & Resistance Levels

Level Price Change
Resistance 115.20 2.49 %
114.13 1.54 %
113.47 0.95 %
Current price: 112.40
Support 111.33 -0.95 %
110.67 -1.54 %
109.60 -2.49 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 119.85 6.63 %
116.75 3.87 %
116.40 3.56 %
Current price 112.40
Support 107.15 -4.67%
105.40 -6.23%
102.40 -8.90%

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