Birlasoft Limited Stock Forecast
Stronger technical forecast for Birlasoft Limited stock price after Tuesday trading.
(Updated on Jun 25, 2024)
The Birlasoft Limited stock price gained 1.53% on the last trading day (Tuesday, 25th Jun 2024), rising from ₹685.25 to ₹695.75. During the last trading day the stock fluctuated 2.61% from a day low at ₹681.05 to a day high of ₹698.85. The price has been going up and down for this period, and there has been a 2.32% gain for the last 2 weeks. Volume fell on the last day by -74 thousand shares and in total, 3 million shares were bought and sold for approximately ₹1.75 billion. 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 strong 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 15.04% during the next 3 months and, with a 90% probability hold a price between ₹761.41 and ₹834.64 at the end of this 3-month period.
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BSOFT.NS Signals & Forecast
Mostly positive signals in the chart today. The Birlasoft 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 ₹686.13 and ₹654.05. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 16.23%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Birlasoft Limited stock
Birlasoft Limited finds support from accumulated volume at ₹683.25 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 ₹17.80 between high and low, or 2.61%. For the last week, the stock has had daily average volatility of 2.79%.
Our recommended stop-loss: ₹666.73 (-4.17%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 84 and this increases the risk substantially. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (BSOFT.NS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Birlasoft Limited to open at ₹691.88, and during the day (based on 14 day Average True Range), to move between ₹673.90 and ₹717.60, which gives a possible trading interval of +/-₹21.85 (+/-3.14%) up or down from last closing price. If Birlasoft Limited takes out the full calculated possible swing range there will be an estimated 6.28% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹683.25, some ₹12.50 (1.80%) from the current price of ₹695.75, our system finds the risk reward attractive.
Is Birlasoft 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 Birlasoft 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: 3.229 Buy Candidate Upgraded
Predicted Opening Price for Birlasoft Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹691.88 ( 0.556%) | ₹695.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BSOFT.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 709.68 | 2.00% |
| R2 | 702.88 | 1.03% |
| R1 | 698.68 | 0.422% |
| Price | 695.75 | |
| S1 | 685.08 | -1.53% |
| S2 | 680.88 | -2.14% |
| S3 | 674.08 | -3.11% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 695.75 | |
| S1 | 683.25 | -1.80% |
| S2 | 681.35 | -2.07% |
| S3 | 678.15 | -2.53% |
BSOFT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 08, 2023 | Nov 08, 2023 | Nov 30, 2023 | ₹2.50 | 0.397% |
| 2 | Jul 14, 2023 | Jul 14, 2023 | Aug 26, 2023 | ₹2.00 | 0.413% |
| 3 | Nov 01, 2022 | Nov 01, 2022 | Nov 20, 2022 | ₹1.50 | 0.525% |
| 4 | Jul 14, 2022 | Jul 14, 2022 | Sep 02, 2022 | ₹3.00 | 0.93% |
| 5 | Nov 02, 2021 | Nov 02, 2021 | Nov 25, 2021 | ₹1.50 | 0.300% |
FAQ
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