Birla Corporation Limited Stock Forecast
Birla Corporation Limited stock downgraded to Hold/Accumulate
(Updated on May 06, 2024)
The Birla Corporation Limited stock price fell by -0.99% on the last day (Monday, 6th May 2024) from ₹1,559.90 to ₹1,544.40. During the last trading day the stock fluctuated 9.92% from a day low at ₹1,530.15 to a day high of ₹1,682.00. The price has risen in 6 of the last 10 days and is up by 6.47% over the past 2 weeks. Volume has increased on the last day by 781 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately ₹2.06 billion.
The stock lies the upper part of a 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 ₹1,579.97 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 -13.44% during the next 3 months and, with a 90% probability hold a price between ₹1,105.07 and ₹1,367.60 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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BIRLACORPN.NS Signals & Forecast
The Birla Corporation 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 ₹1,482.79 and ₹1,472.51. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 15, 2024, and so far it has risen 9.23%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Birla Corporation Limited stock
Birla Corporation Limited finds support from accumulated volume at ₹1,528.75 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 ₹151.85 (9.92%) between high and low. For the last week, the stock has had daily average volatility of 4.20%.
Our recommended stop-loss: ₹1,500.85 (-2.82%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 33 days ago.)
Trading Expectations (BIRLACORPN.NS) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Birla Corporation Limited to open at ₹1,585.52, and during the day (based on 14 day Average True Range), to move between ₹1,487.21 and ₹1,601.59, which gives a possible trading interval of +/-₹57.19 (+/-3.70%) up or down from last closing price. If Birla Corporation Limited takes out the full calculated possible swing range there will be an estimated 7.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹1,559.90 (1.00%) than the support at ₹1,528.75 (1.01%), 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.
Earnings coming up
Birla Corporation Limited will release earnings BMO on Tuesday, May 07, 2024. We will update the financials statements for Birla Corporation Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.32% in the first trading day after earnings release.
Is Birla Corporation Limited stock A Buy?
Birla Corporation Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.598 Hold/Accumulate Downgraded
Predicted Opening Price for Birla Corporation Limited of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ₹1,585.52 ( 2.66%) | ₹1,544.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BIRLACORPN.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,737.37 | 12.49 % | |
| R2 | 1,679.36 | 8.74 % | ||
| R1 | 1,643.52 | 6.42 % | ||
| Current price: | 1,544.40 | |||
| Support | S1 | 1,527.51 | -1.09 % | |
| S2 | 1,491.67 | -3.41 % | ||
| S3 | 1,433.67 | -7.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,696.15 | 9.83 % | |
| R2 | 1,691.35 | 9.52 % | ||
| R1 | 1,559.90 | 1.00 % | ||
| Current price | 1,544.40 | |||
| Support | S1 | 1,528.75 | -1.01% | |
| S2 | 1,522.95 | -1.39% | ||
| S3 | 1,459.35 | -5.51% |
BIRLACORPN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 19, 2022 | Sep 19, 2022 | Sep 19, 2022 | ₹10.00 | 0.96% |
| 2 | Sep 21, 2021 | Sep 21, 2021 | Sep 21, 2021 | ₹10.00 | 0.764% |
| 3 | Aug 17, 2020 | Aug 17, 2020 | Aug 17, 2020 | ₹7.50 | 1.27% |
| 4 | Aug 14, 2020 | Aug 14, 2020 | Aug 14, 2020 | ₹7.50 | 1.24% |
| 5 | May 03, 2019 | Aug 05, 2019 | Aug 21, 2019 | ₹7.50 | 1.35% |
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