Bharat Heavy Electricals Limited Stock Forecast
Red day on Tuesday for Bharat Heavy Electricals Limited
(Updated on Jun 18, 2024)
The Bharat Heavy Electricals Limited stock price fell by -0.0327% on the last day (Tuesday, 18th Jun 2024) from ₹305.70 to ₹305.60. During the last trading day the stock fluctuated 2.39% from a day low at ₹303.35 to a day high of ₹310.60. The price has risen in 6 of the last 10 days but is still down by -1.88% for this period. 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 -5 million shares and in total, 20 million shares were bought and sold for approximately ₹6.18 billion.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 23.51% during the next 3 months and, with a 90% probability hold a price between ₹316.28 and ₹419.09 at the end of this 3-month period.
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BHEL.NS Signals & Forecast
The Bharat Heavy Electricals Limited 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 ₹296.51 and ₹291.25. A breakdown below any of these levels will issue sell signals. 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, May 21, 2024, and so far it has fallen -4.26%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Bharat Heavy Electricals Limited stock
Bharat Heavy Electricals Limited finds support from accumulated volume at ₹305.00 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 ₹7.25 between high and low, or 2.39%. For the last week, the stock has had daily average volatility of 3.32%.
Our recommended stop-loss: ₹287.57 (-5.90%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 63 days ago.)
Trading Expectations (BHEL.NS) For The Upcoming Trading Day Of Wednesday 19th
For the upcoming trading day on Wednesday, 19th we expect Bharat Heavy Electricals Limited to open at ₹306.52, and during the day (based on 14 day Average True Range), to move between ₹290.10 and ₹321.10, which gives a possible trading interval of +/-₹15.50 (+/-5.07%) 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 10.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹305.70 (0.03%) than the support at ₹305.00 (0.20%), 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 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: 1.516 Buy Candidate Unchanged
Predicted Opening Price for Bharat Heavy Electricals Limited of Wednesday, June 19, 2024
| Fair opening price June 19, 2024 | Current price |
|---|---|
| ₹306.52 ( 0.300%) | ₹305.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BHEL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 313.77 | 2.67% |
| R2 | 311.00 | 1.77% |
| R1 | 309.29 | 1.21% |
| Price | 305.60 | |
| S1 | 303.75 | -0.606% |
| S2 | 302.04 | -1.17% |
| S3 | 299.27 | -2.07% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 319.20 | 4.45% |
| R2 | 311.45 | 1.91% |
| R1 | 305.70 | 0.0327% |
| Price | 305.60 | |
| S1 | 305.00 | -0.196% |
| S2 | 277.95 | -9.05% |
| S3 | 246.55 | -19.32% |
BHEL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 11, 2023 | Aug 11, 2023 | Sep 22, 2023 | ₹0.400 | 0.322% |
| 2 | Sep 15, 2022 | Sep 15, 2022 | Sep 15, 2022 | ₹0.400 | 0.648% |
| 3 | Sep 11, 2019 | Sep 11, 2019 | Sep 11, 2019 | ₹1.20 | 2.31% |
| 4 | Feb 01, 2019 | Feb 12, 2019 | Feb 21, 2019 | ₹0.80 | 1.27% |
| 5 | May 29, 2018 | Sep 11, 2018 | Oct 19, 2018 | ₹1.02 | 1.39% |
FAQ
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