Bhandari Hosiery Exports Ltd(NDA) 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
Bhandari Hosiery Exports Ltd(NDA) stock upgraded to Hold/Accumulate.
(Updated on May 17, 2024)
The Bhandari Hosiery Exports Ltd(NDA) stock price gained 0.637% on the last trading day (Friday, 17th May 2024), rising from ₹7.85 to ₹7.90. During the last trading day the stock fluctuated 3.21% from a day low at ₹7.80 to a day high of ₹8.05. The price has fallen in 5 of the last 10 days but is still up by 1.28% 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, 240 thousand more shares were traded than the day before. In total, 690 thousand shares were bought and sold for approximately ₹5.45 million.
The stock lies in the middle of a very 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 -20.76% during the next 3 months and, with a 90% probability hold a price between ₹4.56 and ₹7.25 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BHANDARI.NS Signals & Forecast
There are mixed signals in the stock today. The Bhandari Hosiery Exports Ltd(NDA) 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 ₹7.91 and ₹8.10. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, May 06, 2024, and so far it has risen 2.60%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Bhandari Hosiery Exports Ltd(NDA) stock
Bhandari Hosiery Exports Ltd(NDA) finds support from accumulated volume at ₹7.85 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹0.250 between high and low, or 3.21%. For the last week the stock has had daily average volatility of 3.35%.
Our recommended stop-loss: ₹7.46 (-5.51%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (BHANDARI.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Bhandari Hosiery Exports Ltd(NDA) to open at ₹7.92, and during the day (based on 14 day Average True Range), to move between ₹7.55 and ₹8.25, which gives a possible trading interval of +/-₹0.349 (+/-4.42%) up or down from last closing price. If Bhandari Hosiery Exports Ltd(NDA) takes out the full calculated possible swing range there will be an estimated 8.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹7.85 (0.63%) than the resistance at ₹8.05 (1.90%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Bhandari Hosiery Exports Ltd(NDA) will release earnings BMO on Monday, May 20, 2024. We will update the financials statements for Bhandari Hosiery Exports Ltd(NDA), that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.33% in the first trading day after earnings release.
Is Bhandari Hosiery Exports Ltd(NDA) stock A Buy?
Bhandari Hosiery Exports Ltd(NDA) 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.885 Hold/Accumulate Upgraded
Predicted Opening Price for Bhandari Hosiery Exports Ltd(NDA) of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹7.92 ( 0.211%) | ₹7.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BHANDARI.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.17 | 3.38 % | |
| R2 | 8.07 | 2.17 % | ||
| R1 | 8.01 | 1.42 % | ||
| Current price: | 7.90 | |||
| Support | S1 | 7.82 | -1.00 % | |
| S2 | 7.76 | -1.74 % | ||
| S3 | 7.67 | -2.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.15 | 15.82 % | |
| R2 | 8.15 | 3.16 % | ||
| R1 | 8.05 | 1.90 % | ||
| Current price | 7.90 | |||
| Support | S1 | 7.85 | -0.633% | |
| S2 | 7.65 | -3.16% | ||
| S3 | 7.50 | -5.06% |
BHANDARI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 23, 2022 | Sep 23, 2022 | Sep 23, 2022 | ₹0.0100 | 0.187% |
| 2 | Sep 22, 2021 | Sep 22, 2021 | Sep 22, 2021 | ₹0.0100 | 0.314% |
| 3 | Sep 18, 2020 | Sep 18, 2020 | Sep 18, 2020 | ₹0.0100 | 0.94% |
| 4 | May 29, 2019 | Sep 19, 2019 | Oct 28, 2019 | ₹0.0100 | 0.94% |
| 5 | May 29, 2018 | Sep 19, 2018 | Oct 28, 2018 | ₹0.0100 | 0.532% |
FAQ
Click here for our free guide on how to buy Bhandari Hosiery Exports Ltd(NDA) Stock.
