BSL Limited Stock Forecast
BSL Limited stock upgraded from Sell Candidate to Hold/Accumulate after Monday trading session.
(Updated on May 06, 2024)
The BSL Limited stock price gained 0.81% on the last trading day (Monday, 6th May 2024), rising from ₹178.80 to ₹180.25. During the last trading day the stock fluctuated 2.71% from a day low at ₹177.20 to a day high of ₹182.00. The price has fallen in 6 of the last 10 days and is down by -1.9% for this period. Volume fell on the last day by -8 thousand shares and in total, 4 thousand shares were bought and sold for approximately ₹664.40 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 -5.39% during the next 3 months and, with a 90% probability hold a price between ₹147.81 and ₹179.37 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.
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BSL.NS Signals & Forecast
The BSL 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 ₹184.97. On a fall, the stock will find some support from the long-term average at approximately ₹179.29. 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. 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 Wednesday, April 24, 2024, and so far it has fallen -5.65%. 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 fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for BSL Limited stock
BSL Limited finds support from accumulated volume at ₹179.15 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved ₹4.80 between high and low, or 2.71%. For the last week the stock has had daily average volatility of 3.07%.
Our recommended stop-loss: ₹171.24 (-5.00%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (BSL.NS) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect BSL Limited to open at ₹179.82, and during the day (based on 14 day Average True Range), to move between ₹173.26 and ₹187.24, which gives a possible trading interval of +/-₹6.99 (+/-3.88%) up or down from last closing price. If BSL Limited takes out the full calculated possible swing range there will be an estimated 7.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹179.15 (0.61%) than the resistance at ₹182.00 (0.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BSL Limited stock A Buy?
BSL Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.128 Hold/Accumulate Upgraded
Predicted Opening Price for BSL Limited of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ₹179.82 ( 0.240%) | ₹180.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BSL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 184.62 | 2.42 % | |
| R2 | 182.78 | 1.41 % | ||
| R1 | 181.65 | 0.777 % | ||
| Current price: | 180.25 | |||
| Support | S1 | 177.98 | -1.26 % | |
| S2 | 176.85 | -1.89 % | ||
| S3 | 175.02 | -2.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 200.15 | 11.04 % | |
| R2 | 191.45 | 6.21 % | ||
| R1 | 182.00 | 0.97 % | ||
| Current price | 180.25 | |||
| Support | S1 | 179.15 | -0.610% | |
| S2 | 169.85 | -5.77% | ||
| S3 | 165.50 | -8.18% |
BSL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 20, 2022 | Sep 20, 2022 | Sep 20, 2022 | ₹1.20 | 0.82% |
| 2 | May 11, 2018 | Sep 19, 2018 | Oct 28, 2018 | ₹1.00 | 2.21% |
| 3 | May 12, 2017 | Sep 18, 2017 | Oct 26, 2017 | ₹1.20 | 1.84% |
| 4 | May 11, 2016 | Sep 15, 2016 | Oct 24, 2016 | ₹1.20 | 1.31% |
| 5 | May 08, 2015 | Sep 11, 2015 | Oct 21, 2015 | ₹1.20 | 2.24% |
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