Bharat Bhushan Finance & Commodity Stock Forecast

Green day on Wednesday for Bharat Bhushan Finance & Commodity stock after gaining 0.95%
(Updated on Jun 26, 2024)

BHARAT.BO Signals & Forecast

The Bharat Bhushan Finance & Commodity stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹37.33. On a fall, the stock will find some support from the long-term average at approximately ₹35.31. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Bharat Bhushan Finance & Commodity has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Thursday, June 20, 2024, and so far it has fallen -1.84%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Tuesday, July 18, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Bharat Bhushan Finance & Commodity stock

Bharat Bhushan Finance & Commodity finds support from accumulated volume at ₹37.09 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 ₹1.32 between high and low, or 3.60%. For the last week, the stock has had daily average volatility of 3.56%.

Our recommended stop-loss: ₹35.77 (-4.03%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 30 days ago.)

Trading Expectations (BHARAT.BO) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Bharat Bhushan Finance & Commodity Brokers Limited to open at ₹37.28, and during the day (based on 14 day Average True Range), to move between ₹35.48 and ₹39.06, which gives a possible trading interval of +/-₹1.79 (+/-4.79%) up or down from last closing price. If Bharat Bhushan Finance & Commodity Brokers Limited takes out the full calculated possible swing range there will be an estimated 9.58% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹37.31 (0.11%) than the support at ₹37.09 (0.48%), 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 Bharat Bhushan Finance & Commodity Brokers Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Bharat Bhushan Finance & Commodity stock to perform well in the short-term.

Current score: 2.111 Buy Candidate Unchanged

Predicted Opening Price for Bharat Bhushan Finance & Commodity Brokers Limited of Thursday, June 27, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.