Biofil Chemicals and Pharmaceuticals Ltd Stock Forecast
Red day on Thursday for Biofil Chemicals and Pharmaceuticals Ltd stock after losing 0.0728%
(Updated on Apr 18, 2024)
The Biofil Chemicals and Pharmaceuticals Ltd stock price fell by -0.0728% on the last day (Thursday, 18th Apr 2024) from ₹68.70 to ₹68.65. During the last trading day the stock fluctuated 4.68% from a day low at ₹67.35 to a day high of ₹70.50. The price has fallen in 5 of the last 10 days and is down by -1.22% 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 -52 thousand shares and in total, 66 thousand shares were bought and sold for approximately ₹4.55 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Biofil Chemicals and Pharmaceuticals Ltd stock with a 90% probability to be traded between ₹56.88 and ₹74.88 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BIOFILCHEM.NS Signals & Forecast
The Biofil Chemicals and Pharmaceuticals Ltd 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 ₹67.57 and ₹64.54. A breakdown below any of these levels will issue sell signals. 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 Tuesday, April 02, 2024, and so far it has fallen -2.00%. Further fall is indicated until a new bottom pivot has been found. 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 Biofil Chemicals and Pharmaceuticals Ltd stock
Biofil Chemicals and Pharmaceuticals Ltd finds support from accumulated volume at ₹68.10 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 ₹3.15 between high and low, or 4.68%. For the last week, the stock has had daily average volatility of 5.66%.
Our recommended stop-loss: ₹65.93 (-3.96%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (BIOFILCHEM.NS) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Biofil Chemicals and Pharmaceuticals Limited to open at ₹68.83, and during the day (based on 14 day Average True Range), to move between ₹64.35 and ₹72.95, which gives a possible trading interval of +/-₹4.30 (+/-6.27%) up or down from last closing price. If Biofil Chemicals and Pharmaceuticals Limited takes out the full calculated possible swing range there will be an estimated 12.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹68.10 (0.80%) than the resistance at ₹72.05 (4.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Biofil Chemicals and Pharmaceuticals Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Biofil Chemicals and Pharmaceuticals Ltd stock to perform well in the short-term period.
Current score: 1.032 Buy Candidate Unchanged
Predicted Opening Price for Biofil Chemicals and Pharmaceuticals Limited of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| ₹68.83 ( 0.267%) | ₹68.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BIOFILCHEM.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 71.98 | 4.86 % | |
| R2 | 70.78 | 3.10 % | ||
| R1 | 70.04 | 2.02 % | ||
| Current price: | 68.65 | |||
| Support | S1 | 67.63 | -1.49 % | |
| S2 | 66.89 | -2.57 % | ||
| S3 | 65.68 | -4.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 72.75 | 5.97 % | |
| R2 | 72.25 | 5.24 % | ||
| R1 | 72.05 | 4.95 % | ||
| Current price | 68.65 | |||
| Support | S1 | 68.10 | -0.80% | |
| S2 | 67.25 | -2.04% | ||
| S3 | 66.30 | -3.42% |
FAQ
Click here for our free guide on how to buy Biofil Chemicals and Pharmaceuticals Limited Stock.
