Birla Cable Limited Stock Forecast
Birla Cable Limited stock price down 0.625% on Thursday
(Updated on Jul 04, 2024)
The Birla Cable Limited stock price fell by -0.625% on the last day (Thursday, 4th Jul 2024) from ₹252.69 to ₹251.11. During the last trading day the stock fluctuated 2.40% from a day low at ₹250.00 to a day high of ₹256.00. The price has fallen in 7 of the last 10 days and is down by -0.17% 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 -109 thousand shares and in total, 101 thousand shares were bought and sold for approximately ₹25.41 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹262.24 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -8.69% during the next 3 months and, with a 90% probability hold a price between ₹187.10 and ₹239.44 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BIRLACABLE.NS Signals & Forecast
The Birla Cable 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 ₹246.57 and ₹242.18. 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, June 11, 2024, and so far it has fallen -1.58%. 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 Birla Cable Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹237.80 and ₹233.60. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Birla Cable Limited finds support just below today's level at ₹237.80. If this is broken, then the next support from accumulated volume will be at ₹233.60 and ₹213.65.
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 ₹6.00 between high and low, or 2.40%. For the last week, the stock has had daily average volatility of 3.12%.
Our recommended stop-loss: ₹240.79 (-4.11%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (BIRLACABLE.NS) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Birla Cable Limited to open at ₹252.37, and during the day (based on 14 day Average True Range), to move between ₹241.42 and ₹260.80, which gives a possible trading interval of +/-₹9.69 (+/-3.86%) up or down from last closing price. If Birla Cable Limited takes out the full calculated possible swing range there will be an estimated 7.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹237.80 (5.30%) than the resistance at ₹266.55 (6.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Birla Cable Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.177 Buy Candidate Unchanged
Predicted Opening Price for Birla Cable Limited of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| ₹252.37 ( 0.502%) | ₹251.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BIRLACABLE.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 258.37 | 2.89% |
| R2 | 256.08 | 1.98% |
| R1 | 254.66 | 1.41% |
| Price | 251.11 | |
| S1 | 250.08 | -0.411% |
| S2 | 248.66 | -0.97% |
| S3 | 246.37 | -1.89% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 283.05 | 12.72% |
| R2 | 273.15 | 8.78% |
| R1 | 266.55 | 6.15% |
| Price | 251.11 | |
| S1 | 237.80 | -5.30% |
| S2 | 233.60 | -6.97% |
| S3 | 213.65 | -14.92% |
BIRLACABLE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 04, 2023 | Sep 04, 2023 | Oct 10, 2023 | ₹2.50 | 0.781% |
| 2 | Sep 15, 2022 | Sep 15, 2022 | Oct 23, 2022 | ₹1.50 | 1.15% |
| 3 | Sep 15, 2021 | Sep 15, 2021 | Oct 23, 2021 | ₹1.00 | 1.12% |
| 4 | May 17, 2019 | Jul 29, 2019 | Sep 04, 2019 | ₹2.00 | 4.67% |
| 5 | May 24, 2018 | Jul 23, 2018 | Aug 30, 2018 | ₹1.00 | 0.638% |
FAQ
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