Bharat Petroleum Corporation Limited Stock Forecast
Bharat Petroleum Corporation Limited stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 31, 2024)
The Bharat Petroleum Corporation Limited stock price gained 0.224% on the last trading day (Friday, 31st May 2024), rising from ₹626.20 to ₹627.60. During the last trading day the stock fluctuated 2.63% from a day low at ₹617.70 to a day high of ₹633.95. The price has risen in 6 of the last 10 days and is up by 1.45% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 600 thousand more shares were traded than the day before. In total, 771 thousand shares were bought and sold for approximately ₹483.60 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.99% during the next 3 months and, with a 90% probability hold a price between ₹612.58 and ₹691.22 at the end of this 3-month period.
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BPCL.BO Signals & Forecast
The Bharat Petroleum Corporation Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹641.60. On a fall, the stock will find some support from the long-term average at approximately ₹615.33. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. 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, May 27, 2024, and so far it has fallen -4.35%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Bharat Petroleum Corporation Limited stock
Bharat Petroleum Corporation Limited finds support from accumulated volume at ₹625.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ₹16.25 between high and low, or 2.63%. For the last week, the stock has had daily average volatility of 2.23%.
Our recommended stop-loss: ₹600.27 (-4.36%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (BPCL.BO) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Bharat Petroleum Corporation Limited to open at ₹626.42, and during the day (based on 14 day Average True Range), to move between ₹607.98 and ₹647.22, which gives a possible trading interval of +/-₹19.62 (+/-3.13%) up or down from last closing price. If Bharat Petroleum Corporation Limited takes out the full calculated possible swing range there will be an estimated 6.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹625.50 (0.33%) than the resistance at ₹629.80 (0.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bharat Petroleum Corporation 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 Bharat Petroleum Corporation Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.046 Buy Candidate Upgraded
Predicted Opening Price for Bharat Petroleum Corporation Limited of Monday, June 3, 2024
Fair opening price June 3, 2024 | Current price |
---|---|
₹626.42 ( 0.189%) | ₹627.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BPCL.BO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 642.67 | 2.40 % | |
R2 | 636.46 | 1.41 % | ||
R1 | 632.62 | 0.80 % | ||
Current price: | 627.60 | |||
Support | S1 | 620.21 | -1.18 % | |
S2 | 616.37 | -1.79 % | ||
S3 | 610.17 | -2.78 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 638.20 | 1.69 % | |
R2 | 634.80 | 1.15 % | ||
R1 | 629.80 | 0.351 % | ||
Current price | 627.60 | |||
Support | S1 | 625.50 | -0.335% | |
S2 | 618.60 | -1.43% | ||
S3 | 586.25 | -6.59% |
BPCL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 12, 2023 | Dec 12, 2023 | Dec 12, 2023 | ₹21.00 | 4.69% |
2 | Aug 11, 2023 | Aug 11, 2023 | Sep 28, 2023 | ₹4.00 | 1.16% |
3 | Aug 19, 2022 | Aug 19, 2022 | Mar 01, 2022 | ₹6.00 | 1.72% |
4 | Feb 22, 2018 | Feb 22, 2018 | Mar 09, 2018 | ₹14.00 | 3.19% |
5 | Jun 08, 2017 | Jun 08, 2017 | Oct 12, 2017 | ₹0.667 | 0.136% |
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