Price and trend forecast of BALAXI for Tomorrow, Weekly, Monthly
BALAXI PHARMACEUTICALS LIMITED
Symbol: NSE:BALAXI
ISIN: INE618N01014
105.39
As on 2024-09-06
BALAXI's Today's Performance
BALAXI PHARMACEUTICALS LIMITED started the day by opening at 107.70 today 2024-09-06. Its shares reached a high of 108.69 and dipped to a low of 105.00 in intraday. When the markets closed, BALAXI’s stock price settled at ₹105.39 per share. Also check out its key support and resistance levels.
BALAXI Buy/Sell Targets
Tomorrow, sell BALAXI when its price reaches ₹ 105.39 with a stop-loss order at ₹ 106.76. You can set the target price as ₹ 104.02 to capture potential gains. This sell position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.
In the sections below, we will discuss detailed share price target of BALAXI for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.
Important Down levels for BALAXI
| Downside Targets | Value in ₹ |
|---|---|
| Tomorrow Down Target 1 | 108 |
| Tomorrow Down Target 2 | 110 |
| Tomorrow Down Target 3 | 111 |
Important Levels for BALAXI
| Holding Levels | Value in ₹ |
|---|---|
| Tomorrow Up Target 1 | 104 |
| Tomorrow Up Target 2 | 103 |
| Tomorrow Up Target 3 | 100 |
Based on where the stock opens tomorrow, if BALAXI opens on a positive note, our first target will be ₹108. If Target 1 is achieved, we will aim for Target 2 which is ₹110.
But if BALAXI falls below the average value of ₹106.36, you can enter a sell side position with target number 1 - ₹104 and second target - ₹103 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.
Daily Volume chart of BALAXI
Looking at BALAXI, we've seen a Decreasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.
In terms of its price, BALAXI has been on a Downward path, giving us insights how its value changes in the market.
Based on this, the predicted sentiment for BALAXI is moderate bearish.
Tomorrow's Volume based share price Forecast for BALAXI
BALAXI's Volume is currently in a Decreasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a moderate bearish trend. Volume trend strength over the last month compared to the last week is -37%.
Reversal detection for BALAXI
BALAXI may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹108 in morning tomorrow
| Target 1 tomorrow | 108 |
| Target 2 tomorrow | 109 |
| Target 3 tomorrow | 110 |
Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.
Combine this trend forecast with BALAXI's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.
Based on where the stock opens tomorrow, if BALAXI opens on a positive note, our first target will be ₹107.72. If Target 1 is achieved, we will aim for Target 2 which is ₹110.05.
But if BALAXI falls below the average value of ₹106.36, you can enter a sell side position with target number 1 - ₹104.03 and second target - ₹102.67
BALAXI's Weekly Targets
| 1st Up Target | 108.46 |
| 2nd Up Target | 111.53 |
| 1st Down Target | 103.66 |
| 2nd Down Target | 101.93 |
As the week for BALAXI ended on bearish sentiments, we can expect further continuation of this sentiment. BALAXI's initial target will be 108.46 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 103.66 in the upcoming week.
Weekly OHLC Values
| Open | 108.20 |
| High | 109.80 |
| Low | 105.00 |
| Close | 105.39 |
Week for BALAXI started with an open price of 108.20, and the close was at 105.39. BALAXI reached the highest of 109.80 and dipped lowest up to 105.00 last week. This indicates a bearish sentiment for the week.
BALAXI full month swing targets
| Monthly Up Target 1 | 113.26 |
| Monthly Up Target 2 | 116.33 |
| Monthly Down Target 1 | 98.86 |
| Monthly Down Target 2 | 92.33 |
Targets of ₹113.26 can be expected to be reached in the coming month. Once BALAXI achieved this target, we can aim for the next upside target of ₹116.33.
BALAXI if fails to hold upside, down targets of ₹98.86 and ₹92.33 can be achieved by end of this month.
For complete three weeks if BALAXI is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.
Related Stocks in the Same Sector as BALAXI
| Symbol | Name | Industry |
|---|---|---|
| EMBASSY | Embassy Office Parks REIT | Other |
| BALAXI | BALAXI PHARMACEUTICALS LIMITED | Other |
| 3PLAND | 3P Land Holdings Limited | Other |
| IDFNIFTYET | IDFC Mutual Fund - IDFC Nifty ETF | Other |
Summary
BALAXI is expected to reach the target of 107.72 in tomorrow's trading session.
After achieving the initial target in BALAXI, we will aim for higher targets of 110.05 tomorrow.
However, if BALAXI starts to trade below ₹106.36, then we will shift our focus to the sell side and aim for down targets of 104.03 and 102.67.