Shri Bajrang Alliance Limited Stock Forecast

Shri Bajrang Alliance Limited stock price ended at ₹298.70 on Wednesday, after gaining 0.90%.
(Updated on May 15, 2024)

SHBAJRG.BO Signals & Forecast

The Shri Bajrang Alliance Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹300.51. On a fall, the stock will find some support from the long-term average at approximately ₹288.14. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 08, 2024, and so far it has fallen -3.08%. 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 Shri Bajrang Alliance Limited stock

Shri Bajrang Alliance Limited finds support from accumulated volume at ₹295.35 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 ₹9.65 between high and low, or 3.27%. For the last week, the stock has had daily average volatility of 4.41%.

Our recommended stop-loss: ₹285.96 (-4.26%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 23 days ago.)

Trading Expectations (SHBAJRG.BO) For The Upcoming Trading Day Of Thursday 16th

For the upcoming trading day on Thursday, 16th we expect Shri Bajrang Alliance Limited to open at ₹299.48, and during the day (based on 14 day Average True Range), to move between ₹283.11 and ₹314.29, which gives a possible trading interval of +/-₹15.59 (+/-5.22%) up or down from last closing price. If Shri Bajrang Alliance Limited takes out the full calculated possible swing range there will be an estimated 10.44% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹295.35 (1.12%) than the resistance at ₹303.50 (1.61%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Shri Bajrang Alliance Limited stock A Buy?

Shri Bajrang Alliance 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: 0.953 Hold/Accumulate Unchanged

Predicted Opening Price for Shri Bajrang Alliance Limited of Thursday, May 16, 2024

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