HBL Power Systems Limited Stock Forecast
A very strong day for HBL Power Systems Limited stock price on Friday
(Updated on Apr 26, 2024)
The HBL Power Systems Limited stock price gained 5.33% on the last trading day (Friday, 26th Apr 2024), rising from ₹492.70 to ₹518.95. During the last trading day the stock fluctuated 6.04% from a day low at ₹493.00 to a day high of ₹522.80. The price has been going up and down for this period, and there has been a 5.3% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately ₹1.89 billion.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹520.73 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -14.15% during the next 3 months and, with a 90% probability hold a price between ₹308.97 and ₹447.03 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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HBLPOWER.NS Signals & Forecast
The HBL Power Systems 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 ₹472.64 and ₹467.54. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 29.29%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for HBL Power Systems Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹472.55 and ₹448.90. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, HBL Power Systems Limited finds support just below today's level at ₹472.55. If this is broken, then the next support from accumulated volume will be at ₹448.90 and ₹401.40.
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 ₹29.80 between high and low, or 6.04%. For the last week, the stock has had daily average volatility of 4.55%.
Our recommended stop-loss: ₹499.02 (-3.84%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (HBLPOWER.NS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect HBL Power Systems Limited to open at ₹511.58, and during the day (based on 14 day Average True Range), to move between ₹495.77 and ₹542.13, which gives a possible trading interval of +/-₹23.18 (+/-4.47%) up or down from last closing price. If HBL Power Systems Limited takes out the full calculated possible swing range there will be an estimated 8.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹524.05 (0.98%) than the support at ₹472.55 (8.94%), 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 HBL Power Systems 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.
Current score: 2.677 Buy Candidate Unchanged
Predicted Opening Price for HBL Power Systems Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ₹511.58 ( 1.42%) | ₹518.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HBLPOWER.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 541.38 | 4.32 % | |
| R2 | 530.00 | 2.13 % | ||
| R1 | 522.97 | 0.774 % | ||
| Current price: | 518.95 | |||
| Support | S1 | 500.20 | -3.61 % | |
| S2 | 493.17 | -4.97 % | ||
| S3 | 481.78 | -7.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 591.80 | 14.04 % | |
| R2 | 535.60 | 3.21 % | ||
| R1 | 524.05 | 0.98 % | ||
| Current price | 518.95 | |||
| Support | S1 | 472.55 | -8.94% | |
| S2 | 448.90 | -13.50% | ||
| S3 | 401.40 | -22.65% |
HBLPOWER Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 15, 2022 | Sep 15, 2022 | Sep 15, 2022 | ₹0.400 | 0.388% |
| 2 | Sep 16, 2021 | Sep 16, 2021 | Sep 16, 2021 | ₹0.350 | 0.709% |
| 3 | Sep 15, 2021 | Sep 15, 2021 | Sep 15, 2021 | ₹0.350 | 0.709% |
| 4 | Sep 16, 2020 | Sep 16, 2020 | Sep 16, 2020 | ₹0.100 | 0.615% |
| 5 | Feb 10, 2020 | Feb 26, 2020 | Mar 18, 2020 | ₹0.200 | 1.51% |
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