Bharat Heavy Electricals Limited Stock Forecast

Bharat Heavy Electricals Limited stock price ended at ₹293.75 on Tuesday, after losing 0.289%.
(Updated on Jun 25, 2024)

BHEL.BO Signals & Forecast

The Bharat Heavy Electricals Limited 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 ₹297.83. On a fall, the stock will find some support from the long-term average at approximately ₹291.56. 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). 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, June 14, 2024, and so far it has fallen -3.89%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Bharat Heavy Electricals Limited stock

Bharat Heavy Electricals Limited finds support from accumulated volume at ₹289.00 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 ₹7.10 between high and low, or 2.42%. For the last week, the stock has had daily average volatility of 2.96%.

Our recommended stop-loss: ₹285.84 (-2.69%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 81 and this increases the risk substantially. There is a sell signal from a pivot top found 24 days ago.)

Trading Expectations (BHEL.BO) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Bharat Heavy Electricals Limited to open at ₹295.48, and during the day (based on 14 day Average True Range), to move between ₹280.15 and ₹307.35, which gives a possible trading interval of +/-₹13.60 (+/-4.63%) up or down from last closing price. If Bharat Heavy Electricals Limited takes out the full calculated possible swing range there will be an estimated 9.26% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹289.00 (1.62%) than the resistance at ₹301.90 (2.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Bharat Heavy Electricals 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 Heavy Electricals Limited stock to perform well in the short-term.

Current score: 2.419 Buy Candidate Unchanged

Predicted Opening Price for Bharat Heavy Electricals Limited of Wednesday, June 26, 2024

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