Bhartiya International Limited Stock Forecast
Bhartiya International Limited stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Jun 14, 2024)
The Bhartiya International Limited stock price gained 3.00% on the last trading day (Friday, 14th Jun 2024), rising from ₹439.00 to ₹452.15. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.46% from a day low at ₹448.00 to a day high of ₹459.00. The price has risen in 7 of the last 10 days and is up by 9.25% 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, 76 more shares were traded than the day before. In total, 708 shares were bought and sold for approximately ₹320.12 thousand.
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 39.09% during the next 3 months and, with a 90% probability hold a price between ₹524.85 and ₹689.26 at the end of this 3-month period.
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BIL.BO Signals & Forecast
The Bhartiya International Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹424.48 and ₹425.93. A breakdown below any of these levels will issue sell signals. Bhartiya International Limited 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 Monday, May 27, 2024, and so far it has fallen -2.12%. 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).
Support, Risk & Stop-loss for Bhartiya International Limited stock
Bhartiya International Limited finds support from accumulated volume at ₹444.65 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 ₹11.00 between high and low, or 2.46%. For the last week, the stock has had daily average volatility of 4.73%.
Our recommended stop-loss: ₹426.99 (-5.57%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 55 days ago.)
Trading Expectations (BIL.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Bhartiya International Limited to open at ₹453.05, and during the day (based on 14 day Average True Range), to move between ₹432.10 and ₹472.20, which gives a possible trading interval of +/-₹20.05 (+/-4.43%) up or down from last closing price. If Bhartiya International Limited takes out the full calculated possible swing range there will be an estimated 8.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹452.25 (0.02%) than the support at ₹444.65 (1.66%), 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 Bhartiya International 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 Bhartiya International Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.973 Buy Candidate Upgraded
Predicted Opening Price for Bhartiya International Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹453.05 ( 0.199%) | ₹452.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BIL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 464.05 | 2.63% |
| R2 | 459.85 | 1.70% |
| R1 | 457.25 | 1.13% |
| Price | 452.15 | |
| S1 | 448.85 | -0.730% |
| S2 | 446.25 | -1.30% |
| S3 | 442.05 | -2.23% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 461.95 | 2.17% |
| R2 | 461.65 | 2.10% |
| R1 | 452.25 | 0.0221% |
| Price | 452.15 | |
| S1 | 444.65 | -1.66% |
| S2 | 434.10 | -3.99% |
| S3 | 394.65 | -12.72% |
BIL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 18, 2019 | Sep 18, 2019 | Oct 26, 2019 | ₹1.20 | 0.91% |
| 2 | Sep 19, 2017 | Sep 19, 2017 | Oct 27, 2017 | ₹1.20 | 0.198% |
| 3 | Sep 21, 2016 | Sep 21, 2016 | Sep 21, 2016 | ₹1.20 | 0.213% |
| 4 | Sep 11, 2015 | Sep 11, 2015 | Sep 11, 2015 | ₹1.00 | 0.207% |
| 5 | Aug 27, 2014 | Aug 27, 2014 | Aug 27, 2014 | ₹1.00 | 0.280% |
FAQ
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