Britannia Industries Limited Stock Forecast
Britannia Industries Limited stock price ended at ₹4,745.15 on Friday, after losing 0.317%.
(Updated on May 03, 2024)
The Britannia Industries Limited stock price fell by -0.317% on the last day (Friday, 3rd May 2024) from ₹4,760.25 to ₹4,745.15. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.34% from a day low at ₹4,709.90 to a day high of ₹4,773.15. The price has been going up and down for this period, and there has been a 1.07% gain for the last 2 weeks. Volume has increased on the last day by 12 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 16 thousand shares were bought and sold for approximately ₹76.04 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.81% during the next 3 months and, with a 90% probability hold a price between ₹4,406.32 and ₹4,639.53 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BRITANNIA.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 1.65%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Britannia Industries Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹4,793.04 and ₹4,831.71. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Britannia Industries Limited stock
Britannia Industries Limited finds support from accumulated volume at ₹4,739.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹63.25 between high and low, or 1.34%. For the last week the stock has had daily average volatility of 1.25%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BRITANNIA.BO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Britannia Industries Limited to open at ₹4,742.73, and during the day (based on 14 day Average True Range), to move between ₹4,665.72 and ₹4,824.58, which gives a possible trading interval of +/-₹79.43 (+/-1.67%) up or down from last closing price. If Britannia Industries Limited takes out the full calculated possible swing range there will be an estimated 3.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹4,739.70 (0.11%) than the resistance at ₹4,904.55 (3.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Britannia Industries Limited stock A Buy?
Britannia Industries Limited holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.993 Sell Candidate Unchanged
Predicted Opening Price for Britannia Industries Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹4,742.73 ( 0.0509%) | ₹4,745.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BRITANNIA.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,805.98 | 1.28 % | |
| R2 | 4,781.82 | 0.773 % | ||
| R1 | 4,766.89 | 0.458 % | ||
| Current price: | 4,745.15 | |||
| Support | S1 | 4,718.57 | -0.560 % | |
| S2 | 4,703.64 | -0.87 % | ||
| S3 | 4,679.48 | -1.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5,077.05 | 6.99 % | |
| R2 | 4,914.15 | 3.56 % | ||
| R1 | 4,904.55 | 3.36 % | ||
| Current price | 4,745.15 | |||
| Support | S1 | 4,739.70 | -0.115% | |
| S2 | 4,694.70 | -1.06% | ||
| S3 | 4,668.10 | -1.62% |
BRITANNIA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 13, 2023 | Apr 13, 2023 | May 04, 2023 | ₹72.00 | 1.57% |
| 2 | Jul 28, 2017 | Jul 28, 2017 | Aug 19, 2017 | ₹22.00 | 1.04% |
| 3 | Jul 29, 2016 | Jul 29, 2016 | Jul 29, 2016 | ₹20.00 | 1.37% |
| 4 | Jul 27, 2015 | Jul 27, 2015 | Jul 27, 2015 | ₹16.00 | 1.09% |
| 5 | Jul 23, 2014 | Jul 23, 2014 | Jul 23, 2014 | ₹12.00 | 2.31% |
FAQ
Click here for our free guide on how to buy Britannia Industries Limited Stock.
