Birla Corporation Limited Stock Forecast

Stronger technical forecast for Birla Corporation Limited stock price after Friday trading.
(Updated on Apr 26, 2024)

BIRLACORPN.NS Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, March 15, 2024, and so far it has risen 2.41%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Birla Corporation Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹1,464.35 and ₹1,475.02. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Birla Corporation Limited stock

Birla Corporation Limited finds support from accumulated volume at ₹1,434.65 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹41.85 (2.91%) between high and low. For the last week, the stock has had daily average volatility of 3.21%.

Our recommended stop-loss: ₹1,370.88 (-5.32%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 27 days ago.)

Trading Expectations (BIRLACORPN.NS) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Birla Corporation Limited to open at ₹1,456.60, and during the day (based on 14 day Average True Range), to move between ₹1,395.15 and ₹1,500.75, which gives a possible trading interval of +/-₹52.80 (+/-3.65%) up or down from last closing price. If Birla Corporation Limited takes out the full calculated possible swing range there will be an estimated 7.29% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹1,434.65 (0.92%) than the resistance at ₹1,519.20 (4.92%), 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 Corporation Limited stock A Buy?

Birla Corporation Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.095 Hold/Accumulate Upgraded

Predicted Opening Price for Birla Corporation Limited of Monday, April 29, 2024

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