Bansal Roofing Products Limited Stock Forecast
High volatility in Bansal Roofing Products Limited stock price on Friday which ended trading at ₹79.84
(Updated on Jun 14, 2024)
The Bansal Roofing Products Limited stock price gained 1.69% on the last trading day (Friday, 14th Jun 2024), rising from ₹78.51 to ₹79.84. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 10.88% from a day low at ₹73.04 to a day high of ₹80.99. The price has risen in 8 of the last 10 days and is up by 4.75% 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, 32 thousand more shares were traded than the day before. In total, 40 thousand shares were bought and sold for approximately ₹3.22 million.
The stock lies in the middle of a 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 -7.05% during the next 3 months and, with a 90% probability hold a price between ₹64.50 and ₹79.86 at the end of this 3-month period.
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BRPL.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 13.59%. 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). 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. The Bansal Roofing Products Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹81.59. On a fall, the stock will find some support from the short-term average at ₹77.14. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Bansal Roofing Products Limited stock
Bansal Roofing Products Limited finds support from accumulated volume at ₹77.39 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 ₹7.95 between high and low, or 10.88%. For the last week, the stock has had daily average volatility of 7.87%.
Our recommended stop-loss: ₹76.76 (-3.86%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 48 days ago.)
Trading Expectations (BRPL.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Bansal Roofing Products Limited to open at ₹77.96, and during the day (based on 14 day Average True Range), to move between ₹74.27 and ₹85.41, which gives a possible trading interval of +/-₹5.57 (+/-6.98%) up or down from last closing price. If Bansal Roofing Products Limited takes out the full calculated possible swing range there will be an estimated 13.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹77.39 (3.07%) than the resistance at ₹82.68 (3.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bansal Roofing Products Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.123 Buy Candidate Upgraded
Predicted Opening Price for Bansal Roofing Products Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹77.96 ( 2.36%) | ₹79.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BRPL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 85.91 | 7.60% |
| R2 | 82.87 | 3.79% |
| R1 | 80.99 | 1.44% |
| Price | 79.84 | |
| S1 | 74.92 | -6.16% |
| S2 | 73.04 | -8.51% |
| S3 | 70.01 | -12.32% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 88.13 | 10.38% |
| R2 | 85.60 | 7.21% |
| R1 | 82.68 | 3.56% |
| Price | 79.84 | |
| S1 | 77.39 | -3.07% |
| S2 | 75.51 | -5.42% |
| S3 | 72.48 | -9.22% |
BRPL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 11, 2021 | Jun 11, 2021 | Jul 22, 2021 | ₹0.250 | 0.81% |
| 2 | Sep 21, 2020 | Sep 21, 2020 | Oct 30, 2020 | ₹0.250 | 0.556% |
| 3 | Aug 19, 2019 | Aug 19, 2019 | Sep 29, 2019 | ₹0.250 | 0.81% |
| 4 | Aug 08, 2018 | Aug 08, 2018 | Sep 20, 2018 | ₹0.125 | 0.313% |
FAQ
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