Burnpur Cement Limited Stock Forecast

Burnpur Cement Limited stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 17, 2024)

BURNPUR.NS Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 0.81%. Further rise is indicated until a new top pivot has been found. The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Burnpur Cement 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 ₹6.21 and ₹6.46. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Burnpur Cement Limited stock

Burnpur Cement Limited finds support from accumulated volume at ₹6.15 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 ₹0.300 between high and low, or 4.96%. For the last week, the stock has had daily average volatility of 4.80%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (BURNPUR.NS) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Burnpur Cement Limited to open at ₹6.20, and during the day (based on 14 day Average True Range), to move between ₹5.86 and ₹6.54, which gives a possible trading interval of +/-₹0.336 (+/-5.42%) up or down from last closing price. If Burnpur Cement Limited takes out the full calculated possible swing range there will be an estimated 10.83% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹6.25 (0.81%) than the support at ₹6.15 (0.81%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Burnpur Cement Limited stock A Buy?

Burnpur Cement 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.998 Sell Candidate Downgraded

Predicted Opening Price for Burnpur Cement Limited of Monday, May 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.