Bharat Road Network Limited Stock Forecast
Red day on Friday for Bharat Road Network Limited stock after losing 1.92%
(Updated on Jun 21, 2024)
The Bharat Road Network Limited stock price fell by -1.92% on the last day (Friday, 21st Jun 2024) from ₹49.45 to ₹48.50. It has now fallen 7 days in a row. During the last trading day the stock fluctuated 1.03% from a day low at ₹48.50 to a day high of ₹49.00. The price has fallen in 8 of the last 10 days and is down by -7.27% for this period. Volume has increased on the last day by 15 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, 44 thousand shares were bought and sold for approximately ₹2.14 million.
The stock lies in the middle of a very wide and 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 -15.13% during the next 3 months and, with a 90% probability hold a price between ₹38.50 and ₹50.92 at the end of this 3-month period.
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BRNL.NS Signals & Forecast
There are few to no technical positive signals at the moment. The Bharat Road Network 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 ₹50.70 and ₹55.17. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -24.16%. 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). 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 Bharat Road Network Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 ₹0.500 between high and low, or 1.03%. For the last week, the stock has had daily average volatility of 0.81%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BRNL.NS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Bharat Road Network Limited to open at ₹48.67, and during the day (based on 14 day Average True Range), to move between ₹47.39 and ₹49.61, which gives a possible trading interval of +/-₹1.11 (+/-2.29%) up or down from last closing price. If Bharat Road Network Limited takes out the full calculated possible swing range there will be an estimated 4.57% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ₹52.95, some ₹4.45 (9.18%) from the current price of ₹48.50, our system finds the risk reward not very attractive.
Is Bharat Road Network Limited stock A Buy?
Bharat Road Network Limited holds several negative signals and is within a very wide and 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: -3.592 Sell Candidate Unchanged
Predicted Opening Price for Bharat Road Network Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ₹48.67 ( 0.344%) | ₹48.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BRNL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 49.17 | 1.37% |
| R2 | 48.98 | 0.98% |
| R1 | 48.86 | 0.737% |
| Price | 48.50 | |
| S1 | 48.48 | -0.0502% |
| S2 | 48.36 | -0.293% |
| S3 | 48.17 | -0.687% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 55.80 | 15.05% |
| R2 | 55.40 | 14.23% |
| R1 | 52.95 | 9.18% |
| Price | 48.50 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
BRNL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 28, 2019 | Dec 05, 2019 | Jan 12, 2020 | ₹0.500 | 0.738% |
| 2 | May 29, 2018 | Sep 19, 2018 | Oct 18, 2018 | ₹0.500 | 0.388% |
| 3 | Nov 02, 2017 | Nov 16, 2017 | Dec 02, 2017 | ₹0.500 | 0.251% |
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