Bhagyanagar India Ltd Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Bhagyanagar India Ltd stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
The Bhagyanagar India Ltd stock price gained 1.55% on the last trading day (Friday, 28th Jun 2024), rising from ₹105.99 to ₹107.63. During the last trading day the stock fluctuated 2.72% from a day low at ₹106.11 to a day high of ₹109.00. The price has fallen in 7 of the last 10 days and is down by -1.08% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 87 thousand shares were bought and sold for approximately ₹9.36 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.21% during the next 3 months and, with a 90% probability hold a price between ₹89.72 and ₹108.39 at the end of this 3-month period.
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BHAGYANGR.NS Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. The Bhagyanagar India Ltd 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 ₹107.99 and ₹108.94. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -5.03%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Bhagyanagar India Ltd stock
Bhagyanagar India Ltd finds support from accumulated volume at ₹103.85 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 ₹2.89 between high and low, or 2.72%. For the last week, the stock has had daily average volatility of 3.83%.
Our recommended stop-loss: ₹101.09 (-6.08%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 53 days ago.)
Trading Expectations (BHAGYANGR.NS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Bhagyanagar India Ltd to open at ₹107.58, and during the day (based on 14 day Average True Range), to move between ₹102.51 and ₹112.75, which gives a possible trading interval of +/-₹5.12 (+/-4.76%) up or down from last closing price. If Bhagyanagar India Ltd takes out the full calculated possible swing range there will be an estimated 9.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹110.40 (2.57%) than the support at ₹103.85 (3.51%), 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 Bhagyanagar India Ltd stock A Buy?
Bhagyanagar India Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.871 Hold/Accumulate Upgraded
Predicted Opening Price for Bhagyanagar India Ltd of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹107.58 ( 0.0465%) | ₹107.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BHAGYANGR.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 110.47 | 2.64% |
| R2 | 109.37 | 1.61% |
| R1 | 108.68 | 0.98% |
| Price | 107.63 | |
| S1 | 106.48 | -1.07% |
| S2 | 105.79 | -1.71% |
| S3 | 104.69 | -2.73% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 118.80 | 10.38% |
| R2 | 115.00 | 6.85% |
| R1 | 110.40 | 2.57% |
| Price | 107.63 | |
| S1 | 103.85 | -3.51% |
| S2 | 101.55 | -5.65% |
| S3 | 98.10 | -8.85% |
BHAGYANGR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 01, 2015 | Sep 23, 2015 | Oct 30, 2015 | ₹0.300 | 1.62% |
| 2 | May 12, 2014 | Sep 16, 2014 | Oct 22, 2014 | ₹0.300 | 1.70% |
| 3 | May 07, 2013 | Sep 19, 2013 | Oct 27, 2013 | ₹0.400 | 4.21% |
| 4 | Apr 30, 2012 | Sep 24, 2012 | Oct 29, 2012 | ₹0.400 | 2.82% |
| 5 | Apr 29, 2011 | Sep 14, 2011 | Oct 21, 2011 | ₹0.400 | 2.69% |
FAQ
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