Bhageria Industries Ltd Stock Forecast
Bhageria Industries Ltd stock price fell more than -6.88% Thursday closing at ₹172.70
(Updated on Apr 18, 2024)
The Bhageria Industries Ltd stock price fell by -6.88% on the last day (Thursday, 18th Apr 2024) from ₹185.45 to ₹172.70. During the last trading day the stock fluctuated 9.23% from a day low at ₹171.10 to a day high of ₹186.90. The price has fallen in 6 of the last 10 days but is still up by 3.75% over the past 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 -1 million shares and in total, 216 thousand shares were bought and sold for approximately ₹37.27 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Bhageria Industries Ltd stock with a 90% probability to be traded between ₹142.77 and ₹195.28 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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BHAGERIA.NS Signals & Forecast
The Bhageria Industries Ltd 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 ₹172.11 and ₹166.87. 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 Tuesday, April 16, 2024, and so far it has fallen -6.88%. 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 Bhageria Industries Ltd stock
Bhageria Industries Ltd finds support from accumulated volume at ₹168.85 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 ₹15.80 between high and low, or 9.23%. For the last week, the stock has had daily average volatility of 7.87%.
Our recommended stop-loss: ₹162.79 (-5.74%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (BHAGERIA.NS) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Bhageria Industries Ltd to open at ₹176.90, and during the day (based on 14 day Average True Range), to move between ₹161.70 and ₹183.70, which gives a possible trading interval of +/-₹11.00 (+/-6.37%) up or down from last closing price. If Bhageria Industries Ltd takes out the full calculated possible swing range there will be an estimated 12.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹168.85 (2.23%) than the resistance at ₹182.55 (5.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bhageria Industries Ltd stock A Buy?
Bhageria Industries Ltd 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 Strong Buy to a Hold/Accumulate candidate.
Current score: -0.072 Hold/Accumulate Downgraded
Predicted Opening Price for Bhageria Industries Ltd of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| ₹176.90 ( 2.43%) | ₹172.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BHAGERIA.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 192.70 | 11.58 % | |
| R2 | 186.66 | 8.09 % | ||
| R1 | 182.94 | 5.93 % | ||
| Current price: | 172.70 | |||
| Support | S1 | 170.86 | -1.06 % | |
| S2 | 167.14 | -3.22 % | ||
| S3 | 161.10 | -6.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 194.75 | 12.77 % | |
| R2 | 185.45 | 7.38 % | ||
| R1 | 182.55 | 5.70 % | ||
| Current price | 172.70 | |||
| Support | S1 | 168.85 | -2.23% | |
| S2 | 166.45 | -3.62% | ||
| S3 | 147.15 | -14.79% |
BHAGERIA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 21, 2022 | Jul 21, 2022 | Jul 21, 2022 | ₹4.00 | 2.13% |
| 2 | Jul 22, 2021 | Jul 22, 2021 | Jul 22, 2021 | ₹3.50 | 1.23% |
| 3 | Aug 20, 2020 | Aug 20, 2020 | Aug 20, 2020 | ₹3.00 | 2.20% |
| 4 | May 29, 2019 | Aug 23, 2019 | Sep 05, 2019 | ₹1.13 | 1.14% |
| 5 | Jan 21, 2019 | Jan 31, 2019 | Feb 20, 2019 | ₹1.88 | 1.71% |
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