BF Utilities Limited Stock Forecast
Volatile ride for BF Utilities Limited stock price on Tuesday moving between ₹779.05 and ₹884.65
(Updated on Apr 30, 2024)
The BF Utilities Limited stock price gained 10.74% on the last trading day (Tuesday, 30th Apr 2024), rising from ₹778.65 to ₹862.25. During the last trading day the stock fluctuated 13.55% from a day low at ₹779.05 to a day high of ₹884.65. The price has fallen in 8 of the last 10 days but is still up by 9.33% 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 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately ₹1.67 billion.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9.99% during the next 3 months and, with a 90% probability hold a price between ₹764.02 and ₹1,092.37 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BFUTILITIE.NS Signals & Forecast
The BF Utilities 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 ₹814.16 and ₹787.36. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 Friday, March 01, 2024, and so far it has fallen -7.88%. 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).
Support, Risk & Stop-loss for BF Utilities Limited stock
BF Utilities Limited finds support from accumulated volume at ₹856.20 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 ₹105.60 between high and low, or 13.55%. For the last week, the stock has had daily average volatility of 6.08%.
Our recommended stop-loss: ₹811.89 (-5.84%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 38 days ago.)
Trading Expectations (BFUTILITIE.NS) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect BF Utilities Limited to open at ₹841.98, and during the day (based on 14 day Average True Range), to move between ₹816.16 and ₹908.34, which gives a possible trading interval of +/-₹46.09 (+/-5.35%) up or down from last closing price. If BF Utilities Limited takes out the full calculated possible swing range there will be an estimated 10.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹856.20 (0.70%) than the resistance at ₹915.15 (6.14%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BF Utilities Limited stock A Buy?
BF Utilities Limited holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Buy candidate.
Current score: 5.750 Strong Buy Candidate Upgraded
Predicted Opening Price for BF Utilities Limited of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| ₹841.98 ( 2.35%) | ₹862.25 |
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 | 947.58 | 9.90 % | |
| R2 | 907.24 | 5.22 % | ||
| R1 | 882.32 | 2.33 % | ||
| Current price: | 862.25 | |||
| Support | S1 | 801.64 | -7.03 % | |
| S2 | 776.72 | -9.92 % | ||
| S3 | 736.38 | -14.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 936.00 | 8.55 % | |
| R2 | 922.30 | 6.96 % | ||
| R1 | 915.15 | 6.14 % | ||
| Current price | 862.25 | |||
| Support | S1 | 856.20 | -0.702% | |
| S2 | 818.00 | -5.13% | ||
| S3 | 785.25 | -8.93% |
FAQ
Click here for our free guide on how to buy BF Utilities Limited Stock.
