Bharat Parenterals Limited Stock Forecast
Bharat Parenterals Limited stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The Bharat Parenterals Limited stock price fell by -1.26% on the last day (Friday, 28th Jun 2024) from ₹1,510.00 to ₹1,491.00. During the last trading day the stock fluctuated 4.32% from a day low at ₹1,456.05 to a day high of ₹1,519.00. The price has fallen in 5 of the last 10 days but is still up by 3.16% over the past 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 -3 thousand shares and in total, 366 shares were bought and sold for approximately ₹545.71 thousand.
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 2.07% during the next 3 months and, with a 90% probability hold a price between ₹1,215.34 and ₹1,854.76 at the end of this 3-month period.
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BPLPHARMA.BO Signals & Forecast
The Bharat Parenterals 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 ₹1,460.73 and ₹1,448.15. 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, April 29, 2024, and so far it has fallen -16.76%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Bharat Parenterals Limited stock
Bharat Parenterals Limited finds support from accumulated volume at ₹1,455.20 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹62.95 between high and low, or 4.32%. For the last week the stock has had daily average volatility of 5.47%.
Our recommended stop-loss: ₹1,404.82 (-5.78%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 71 days ago.)
Trading Expectations (BPLPHARMA.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Bharat Parenterals Limited to open at ₹1,488.68, and during the day (based on 14 day Average True Range), to move between ₹1,417.72 and ₹1,564.28, which gives a possible trading interval of +/-₹73.28 (+/-4.91%) up or down from last closing price. If Bharat Parenterals Limited takes out the full calculated possible swing range there will be an estimated 9.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹1,520.25 (1.96%) than the support at ₹1,455.20 (2.40%), 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 Bharat Parenterals 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 Parenterals 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: 2.105 Buy Candidate Upgraded
Predicted Opening Price for Bharat Parenterals Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹1,488.68 ( 0.155%) | ₹1,491.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BPLPHARMA.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,551.63 | 4.07% |
| R2 | 1,527.59 | 2.45% |
| R1 | 1,512.73 | 1.46% |
| Price | 1,491.00 | |
| S1 | 1,464.64 | -1.77% |
| S2 | 1,449.78 | -2.76% |
| S3 | 1,425.73 | -4.38% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,791.20 | 20.13% |
| R2 | 1,700.55 | 14.05% |
| R1 | 1,520.25 | 1.96% |
| Price | 1,491.00 | |
| S1 | 1,455.20 | -2.40% |
| S2 | 1,366.30 | -8.36% |
| S3 | 1,330.30 | -10.78% |
BPLPHARMA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 25, 2024 | Jun 25, 2024 | Aug 01, 2024 | ₹1.00 | 0.0671% |
| 2 | Sep 25, 2023 | Sep 25, 2023 | Oct 30, 2023 | ₹0.750 | 0.125% |
FAQ
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