Orissa Bengal Carrier Limited Stock Forecast
Green day on Friday for Orissa Bengal Carrier Limited
(Updated on Jun 14, 2024)
The Orissa Bengal Carrier Limited stock price gained 0.0534% on the last trading day (Friday, 14th Jun 2024), rising from ₹56.22 to ₹56.25. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.89% from a day low at ₹53.65 to a day high of ₹56.81. The price has risen in 6 of the last 10 days and is up by 4.26% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 587 more shares were traded than the day before. In total, 13 thousand shares were bought and sold for approximately ₹709.88 thousand.
The stock lies in the middle of a very wide and weak 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 5.18% during the next 3 months and, with a 90% probability hold a price between ₹52.43 and ₹67.22 at the end of this 3-month period.
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OBCL.BO Signals & Forecast
The Orissa Bengal Carrier 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 ₹55.32 and ₹55.17. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 05, 2024, and so far it has risen 8.24%. Further rise is indicated until a new top pivot has been found. Orissa Bengal Carrier Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Orissa Bengal Carrier Limited stock
Orissa Bengal Carrier Limited finds support from accumulated volume at ₹56.10 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 ₹3.16 between high and low, or 5.89%. For the last week, the stock has had daily average volatility of 4.18%.
Our recommended stop-loss: ₹54.00 (-4.00%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (OBCL.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Orissa Bengal Carrier Limited to open at ₹55.57, and during the day (based on 14 day Average True Range), to move between ₹52.96 and ₹59.54, which gives a possible trading interval of +/-₹3.29 (+/-5.85%) up or down from last closing price. If Orissa Bengal Carrier Limited takes out the full calculated possible swing range there will be an estimated 11.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹56.10 (0.27%) than the resistance at ₹57.76 (2.68%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Orissa Bengal Carrier Limited stock A Buy?
Orissa Bengal Carrier Limited 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.
Current score: 0.275 Hold/Accumulate Unchanged
Predicted Opening Price for Orissa Bengal Carrier Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹55.57 ( 1.21%) | ₹56.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OBCL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 58.73 | 4.41% |
| R2 | 57.52 | 2.26% |
| R1 | 56.78 | 0.94% |
| Price | 56.25 | |
| S1 | 54.36 | -3.35% |
| S2 | 53.62 | -4.68% |
| S3 | 52.41 | -6.83% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 62.17 | 10.52% |
| R2 | 61.62 | 9.55% |
| R1 | 57.76 | 2.68% |
| Price | 56.25 | |
| S1 | 56.10 | -0.267% |
| S2 | 52.97 | -5.83% |
| S3 | 51.56 | -8.34% |
OBCL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 27, 2020 | Aug 27, 2020 | Oct 04, 2020 | ₹0.500 | 1.68% |
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