BPL Limited Stock Forecast
Evaluation of BPL Limited stock downgraded after the last trading session.
(Updated on May 10, 2024)
The BPL Limited stock price gained 0.200% on the last trading day (Friday, 10th May 2024), rising from ₹100.00 to ₹100.20. During the last trading day the stock fluctuated 3.36% from a day low at ₹98.20 to a day high of ₹101.50. The price has fallen in 5 of the last 10 days and is down by -10.58% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 58 thousand more shares were traded than the day before. In total, 161 thousand shares were bought and sold for approximately ₹16.14 million.
The stock lies in the middle of a very 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 3.50% during the next 3 months and, with a 90% probability hold a price between ₹85.37 and ₹116.63 at the end of this 3-month period.
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BPL.NS Signals & Forecast
The BPL 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 ₹103.06. On a fall, the stock will find some support from the long-term average at approximately ₹99.74. 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. 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 Friday, April 26, 2024, and so far it has fallen -10.58%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for BPL Limited stock
BPL Limited finds support from accumulated volume at ₹99.95 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 ₹3.30 between high and low, or 3.36%. For the last week, the stock has had daily average volatility of 4.25%.
Our recommended stop-loss: ₹94.21 (-5.98%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (BPL.NS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect BPL Limited to open at ₹99.97, and during the day (based on 14 day Average True Range), to move between ₹95.18 and ₹105.22, which gives a possible trading interval of +/-₹5.02 (+/-5.01%) up or down from last closing price. If BPL Limited takes out the full calculated possible swing range there will be an estimated 10.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹99.95 (0.25%) than the resistance at ₹102.70 (2.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BPL Limited stock A Buy?
BPL 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: -0.015 Hold/Accumulate Downgraded
Predicted Opening Price for BPL Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ₹99.97 ( 0.233%) | ₹100.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BPL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 103.27 | 3.06 % | |
| R2 | 102.01 | 1.80 % | ||
| R1 | 101.23 | 1.03 % | ||
| Current price: | 100.20 | |||
| Support | S1 | 98.71 | -1.49 % | |
| S2 | 97.93 | -2.27 % | ||
| S3 | 96.67 | -3.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 112.05 | 11.83 % | |
| R2 | 107.50 | 7.29 % | ||
| R1 | 102.70 | 2.50 % | ||
| Current price | 100.20 | |||
| Support | S1 | 99.95 | -0.250% | |
| S2 | 93.80 | -6.39% | ||
| S3 | 89.90 | -10.28% |
BPL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 18, 2001 | Sep 03, 2001 | Oct 01, 2001 | ₹2.50 | 0% |
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