B.L. Kashyap and Sons Limited Stock Forecast
Red day on Tuesday for B.L. Kashyap and Sons Limited stock after losing 1.23%
(Updated on Jun 25, 2024)
The B.L. Kashyap and Sons Limited stock price fell by -1.23% on the last day (Tuesday, 25th Jun 2024) from ₹95.51 to ₹94.34. During the last trading day the stock fluctuated 3.10% from a day low at ₹93.61 to a day high of ₹96.51. The price has been going up and down for this period, and there has been a 9.03% gain for the last 2 weeks. 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 -2 million shares and in total, 1 million shares were bought and sold for approximately ₹125.75 million.
The stock lies in the upper part of a very wide and strong rising 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 ₹95.84 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 27.37% during the next 3 months and, with a 90% probability hold a price between ₹91.36 and ₹122.07 at the end of this 3-month period.
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BLKASHYAP.NS Signals & Forecast
The B.L. Kashyap and Sons 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 ₹92.51 and ₹74.66. 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 Monday, June 24, 2024, and so far it has fallen -1.23%. 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 B.L. Kashyap and Sons Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹89.26 and ₹80.20. 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, B.L. Kashyap and Sons Limited finds support just below today's level at ₹89.26. If this is broken, then the next support from accumulated volume will be at ₹80.20 and ₹74.30.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₹2.90 between high and low, or 3.10%. For the last week, the stock has had daily average volatility of 6.38%.
The B.L. Kashyap and Sons 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.
Our recommended stop-loss: ₹91.09 (-3.45%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 85 and this increases the risk substantially. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (BLKASHYAP.NS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect B.L. Kashyap and Sons Limited to open at ₹94.82, and during the day (based on 14 day Average True Range), to move between ₹89.58 and ₹99.10, which gives a possible trading interval of +/-₹4.76 (+/-5.05%) up or down from last closing price. If B.L. Kashyap and Sons Limited takes out the full calculated possible swing range there will be an estimated 10.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹95.51 (1.24%) than the support at ₹89.26 (5.38%), 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.
Is B.L. Kashyap and Sons Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for B.L. Kashyap and Sons Limited stock to perform well in the short-term.
Current score: 3.688 Buy Candidate Unchanged
Predicted Opening Price for B.L. Kashyap and Sons Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹94.82 ( 0.509%) | ₹94.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLKASHYAP.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 97.72 | 3.58% |
| R2 | 96.61 | 2.41% |
| R1 | 95.93 | 1.68% |
| Price | 94.34 | |
| S1 | 93.71 | -0.665% |
| S2 | 93.03 | -1.39% |
| S3 | 91.92 | -2.57% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 95.51 | 1.24% |
| Price | 94.34 | |
| S1 | 89.26 | -5.38% |
| S2 | 80.20 | -14.99% |
| S3 | 74.30 | -21.24% |
BLKASHYAP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2013 | Sep 12, 2013 | Oct 21, 2013 | ₹0.0500 | 0.83% |
| 2 | May 30, 2012 | Sep 12, 2012 | Oct 21, 2012 | ₹0.0500 | 0.452% |
| 3 | May 28, 2011 | Sep 12, 2011 | Oct 21, 2011 | ₹0.100 | 0.84% |
| 4 | May 29, 2010 | Aug 23, 2010 | Oct 21, 2010 | ₹0.100 | 0.250% |
| 5 | Jun 29, 2009 | Sep 10, 2009 | Oct 01, 2009 | ₹0.100 | 0.209% |
FAQ
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