Binayak Tex Processors Limited Stock Forecast

Green day on Tuesday for Binayak Tex Processors Limited
(Updated on Jun 25, 2024)

ZBINTXPP.BO Signals & Forecast

The Binayak Tex Processors 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 ₹1,766.31 and ₹1,217.71. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 103.46%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Binayak Tex Processors Limited stock

Binayak Tex Processors Limited finds support from accumulated volume at ₹1,938.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved ₹0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.764%.

Since the Binayak Tex Processors Limited has been rising for 10 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stop-loss: ₹1,963.73 (-3.50%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 26 days ago.)

Trading Expectations (ZBINTXPP.BO) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Binayak Tex Processors Limited to open at ₹2,034.95, and during the day (based on 14 day Average True Range), to move between ₹1,970.02 and ₹2,099.88, which gives a possible trading interval of +/-₹64.93 (+/-3.19%) up or down from last closing price. If Binayak Tex Processors Limited takes out the full calculated possible swing range there will be an estimated 6.38% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ₹1,938.05, some ₹96.90 (4.76%) from the current price of ₹2,034.95, our system finds the risk reward attractive.

Is Binayak Tex Processors Limited stock A Buy?

Binayak Tex Processors 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: 0.000 Hold/Accumulate Unchanged

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 Binayak Tex Processors Limited of Wednesday, June 26, 2024

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