L.G. Balakrishnan & Bros Limited Stock Forecast
L.G. Balakrishnan & Bros Limited stock price ended at ₹1,264.40 on Friday, after losing 0.402%.
(Updated on May 17, 2024)
The L.G. Balakrishnan & Bros Limited stock price fell by -0.402% on the last day (Friday, 17th May 2024) from ₹1,269.50 to ₹1,264.40. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.47% from a day low at ₹1,258.60 to a day high of ₹1,277.10. The price has fallen in 8 of the last 10 days and is down by -5.26% for this period. Volume has increased on the last day by 546 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 thousand shares were bought and sold for approximately ₹2.63 million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹1,246.80 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 15.25% during the next 3 months and, with a 90% probability hold a price between ₹1,436.95 and ₹1,574.70 at the end of this 3-month period.
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LGBBROSLTD.BO Signals & Forecast
There are few to no technical positive signals at the moment. The L.G. Balakrishnan & Bros 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 ₹1,270.63 and ₹1,278.69. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -5.26%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for L.G. Balakrishnan & Bros Limited stock
L.G. Balakrishnan & Bros Limited finds support from accumulated volume at ₹1,255.10 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹18.50 between high and low, or 1.47%. For the last week the stock has had daily average volatility of 2.06%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LGBBROSLTD.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect L.G. Balakrishnan & Bros Limited to open at ₹1,266.70, and during the day (based on 14 day Average True Range), to move between ₹1,228.08 and ₹1,300.72, which gives a possible trading interval of +/-₹36.32 (+/-2.87%) up or down from last closing price. If L.G. Balakrishnan & Bros Limited takes out the full calculated possible swing range there will be an estimated 5.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹1,255.10 (0.74%) than the resistance at ₹1,288.55 (1.91%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is L.G. Balakrishnan & Bros Limited stock A Buy?
The L.G. Balakrishnan & Bros Limited stock holds several negative signals and despite the positive trend, we believe L.G. Balakrishnan & Bros Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.544 Sell Candidate Unchanged
Predicted Opening Price for L.G. Balakrishnan & Bros Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹1,266.70 ( 0.182%) | ₹1,264.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LGBBROSLTD.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,285.20 | 1.65 % | |
| R2 | 1,278.13 | 1.09 % | ||
| R1 | 1,273.77 | 0.741 % | ||
| Current price: | 1,264.40 | |||
| Support | S1 | 1,259.63 | -0.377 % | |
| S2 | 1,255.27 | -0.722 % | ||
| S3 | 1,248.20 | -1.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,323.50 | 4.67 % | |
| R2 | 1,297.25 | 2.60 % | ||
| R1 | 1,288.55 | 1.91 % | ||
| Current price | 1,264.40 | |||
| Support | S1 | 1,255.10 | -0.736% | |
| S2 | 1,139.00 | -9.92% | ||
| S3 | 1,116.75 | -11.68% |
LGBBROSLTD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 22, 2024 | Aug 22, 2024 | Aug 22, 2024 | ₹0 | 0% |
| 2 | Sep 18, 2023 | Sep 18, 2023 | Oct 20, 2023 | ₹16.00 | 1.50% |
| 3 | Jul 19, 2017 | Jul 19, 2017 | Aug 21, 2017 | ₹7.00 | 2.00% |
| 4 | Jul 05, 2016 | Jul 05, 2016 | Jul 05, 2016 | ₹1.00 | 0.421% |
| 5 | Mar 22, 2016 | Mar 22, 2016 | Mar 22, 2016 | ₹2.50 | 1.16% |
FAQ
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