Balmer Lawrie Investments Limited Stock Forecast

Green day on Friday for Balmer Lawrie Investments Limited
(Updated on May 17, 2024)

BLIL.BO Signals & Forecast

Mostly positive signals in the chart today. The Balmer Lawrie Investments 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 ₹792.69 and ₹697.30. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 52.18%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Balmer Lawrie Investments Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹819.40 and ₹734.85. 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, Balmer Lawrie Investments Limited finds support just below today's level at ₹819.40. If this is broken, then the next support from accumulated volume will be at ₹734.85 and ₹672.20.

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 ₹39.95 between high and low, or 4.81%. For the last week, the stock has had daily average volatility of 4.18%.

The Balmer Lawrie Investments Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs. Since the Balmer Lawrie Investments Limited has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: ₹836.06 (-3.20%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 90 and this increases the risk substantially. There is a buy signal from a pivot bottom found 41 days ago.)

Trading Expectations (BLIL.BO) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Balmer Lawrie Investments Limited to open at ₹855.25, and during the day (based on 14 day Average True Range), to move between ₹834.93 and ₹892.47, which gives a possible trading interval of +/-₹28.77 (+/-3.33%) up or down from last closing price. If Balmer Lawrie Investments Limited takes out the full calculated possible swing range there will be an estimated 6.66% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ₹819.40, some ₹44.30 (5.13%) from the current price of ₹863.70, our system finds the risk reward attractive.

Is Balmer Lawrie Investments Limited stock A Buy?

Balmer Lawrie Investments Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

Current score: 7.656 Strong Buy Candidate Unchanged

Predicted Opening Price for Balmer Lawrie Investments Limited of Tuesday, May 21, 2024

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