BF Utilities Limited Stock Forecast
BF Utilities Limited stock price down 1.35% on Tuesday
(Updated on Apr 16, 2024)
The BF Utilities Limited stock price fell by -1.35% on the last day (Tuesday, 16th Apr 2024) from ₹788.65 to ₹778.00. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 3.87% from a day low at ₹775.00 to a day high of ₹805.00. The price has fallen in 7 of the last 10 days and is down by -8.64% for this period. 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 -53 thousand shares and in total, 174 thousand shares were bought and sold for approximately ₹135.38 million.
The stock lies in the lower part of a very 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 ₹762.92 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 27.46% during the next 3 months and, with a 90% probability hold a price between ₹972.43 and ₹1,329.20 at the end of this 3-month period.
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BFUTILITIE.NS Signals & Forecast
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. The BF Utilities Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹808.09 and ₹810.25. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 01, 2024, and so far it has fallen -16.88%. 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 BF Utilities Limited stock
BF Utilities Limited finds support from accumulated volume at ₹755.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹30.00 between high and low, or 3.87%. For the last week, the stock has had daily average volatility of 3.72%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BFUTILITIE.NS) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect BF Utilities Limited to open at ₹786.00, and during the day (based on 14 day Average True Range), to move between ₹734.23 and ₹821.77, which gives a possible trading interval of +/-₹43.77 (+/-5.63%) up or down from last closing price. If BF Utilities Limited takes out the full calculated possible swing range there will be an estimated 11.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹785.25 (0.93%) than the support at ₹755.70 (2.87%), 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 BF Utilities Limited stock A Buy?
The BF Utilities Limited stock holds several negative signals and despite the positive trend, we believe BF Utilities Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.998 Sell Candidate Unchanged
Predicted Opening Price for BF Utilities Limited of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| ₹786.00 ( 1.03%) | ₹778.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BFUTILITIE.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 816.00 | 4.88 % | |
| R2 | 804.54 | 3.41 % | ||
| R1 | 797.46 | 2.50 % | ||
| Current price: | 778.00 | |||
| Support | S1 | 774.54 | -0.445 % | |
| S2 | 767.46 | -1.35 % | ||
| S3 | 756.00 | -2.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 915.15 | 17.63 % | |
| R2 | 856.20 | 10.05 % | ||
| R1 | 785.25 | 0.93 % | ||
| Current price | 778.00 | |||
| Support | S1 | 755.70 | -2.87% | |
| S2 | 664.45 | -14.60% | ||
| S3 | 633.10 | -18.62% |
FAQ
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