Dalmia Bharat Sugar and Industries Ltd Stock Forecast

Dalmia Bharat Sugar and Industries Ltd stock upgraded to Hold/Accumulate.
(Updated on May 21, 2024)

DALMIASUG.NS Signals & Forecast

The Dalmia Bharat Sugar and Industries Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹380.99 and ₹383.88. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -7.11%. 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).

Support, Risk & Stop-loss for Dalmia Bharat Sugar and Industries Ltd stock

Dalmia Bharat Sugar and Industries Ltd finds support from accumulated volume at ₹370.35 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 ₹10.95 between high and low, or 2.89%. For the last week, the stock has had daily average volatility of 1.98%.

Our recommended stop-loss: ₹359.61 (-6.34%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 36 days ago.)

Trading Expectations (DALMIASUG.NS) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect Dalmia Bharat Sugar and Industries Limited to open at ₹384.37, and during the day (based on 14 day Average True Range), to move between ₹372.05 and ₹395.85, which gives a possible trading interval of +/-₹11.90 (+/-3.10%) up or down from last closing price. If Dalmia Bharat Sugar and Industries Limited takes out the full calculated possible swing range there will be an estimated 6.20% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹370.35 (3.54%) than the resistance at ₹398.20 (3.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Dalmia Bharat Sugar and Industries Limited stock A Buy?

Dalmia Bharat Sugar and Industries Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Dalmia Bharat Sugar and Industries Limited of Wednesday, May 22, 2024

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