Price and trend forecast of CONFIPET for Tomorrow, Weekly, Monthly
Confidence Petroleum India Limited
Symbol: NSE:CONFIPET
ISIN: INE552D01024
86.95
As on 2024-09-06
CONFIPET's Today's Performance
Confidence Petroleum India Limited started the day by opening at 89.35 today 2024-09-06. Its shares reached a high of 89.38 and dipped to a low of 86.50 in intraday. When the markets closed, CONFIPET’s stock price settled at ₹86.95 per share. Also check out its key support and resistance levels.
CONFIPET Buy/Sell Targets
Tomorrow, sell CONFIPET when its price reaches ₹ 86.95 with a stop-loss order at ₹ 88.17. You can set the target price as ₹ 85.73 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 CONFIPET 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 CONFIPET
Downside Targets | Value in ₹ |
---|---|
Tomorrow Down Target 1 | 89 |
Tomorrow Down Target 2 | 90 |
Tomorrow Down Target 3 | 92 |
Important Levels for CONFIPET
Holding Levels | Value in ₹ |
---|---|
Tomorrow Up Target 1 | 86 |
Tomorrow Up Target 2 | 85 |
Tomorrow Up Target 3 | 83 |
Based on where the stock opens tomorrow, if CONFIPET opens on a positive note, our first target will be ₹89. If Target 1 is achieved, we will aim for Target 2 which is ₹90.
But if CONFIPET falls below the average value of ₹87.61, you can enter a sell side position with target number 1 - ₹86 and second target - ₹85 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 CONFIPET
Looking at CONFIPET, 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, CONFIPET has been on a Downward path, giving us insights how its value changes in the market.
Based on this, the predicted sentiment for CONFIPET is moderate bearish.
Tomorrow's Volume based share price Forecast for CONFIPET
CONFIPET'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 120%.
Reversal detection for CONFIPET
CONFIPET may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹89 in morning tomorrow
Target 1 tomorrow | 89 |
Target 2 tomorrow | 89 |
Target 3 tomorrow | 90 |
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 CONFIPET'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 CONFIPET opens on a positive note, our first target will be ₹88.72. If Target 1 is achieved, we will aim for Target 2 which is ₹90.49.
But if CONFIPET falls below the average value of ₹87.61, you can enter a sell side position with target number 1 - ₹85.84 and second target - ₹84.73
CONFIPET's Weekly Targets
1st Up Target | 89.73 |
2nd Up Target | 92.52 |
1st Down Target | 85.33 |
2nd Down Target | 83.72 |
As the week for CONFIPET ended on bearish sentiments, we can expect further continuation of this sentiment. CONFIPET's initial target will be 89.73 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 85.33 in the upcoming week.
Weekly OHLC Values
Open | 89.86 |
High | 90.90 |
Low | 86.50 |
Close | 86.95 |
Week for CONFIPET started with an open price of 89.86, and the close was at 86.95. CONFIPET reached the highest of 90.90 and dipped lowest up to 86.50 last week. This indicates a bearish sentiment for the week.
CONFIPET full month swing targets
Monthly Up Target 1 | 94.13 |
Monthly Up Target 2 | 96.92 |
Monthly Down Target 1 | 80.93 |
Monthly Down Target 2 | 74.92 |
Targets of ₹94.13 can be expected to be reached in the coming month. Once CONFIPET achieved this target, we can aim for the next upside target of ₹96.92.
CONFIPET if fails to hold upside, down targets of ₹80.93 and ₹74.92 can be achieved by end of this month.
For complete three weeks if CONFIPET 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 CONFIPET
Symbol | Name | Industry |
---|---|---|
RELIANCE | Reliance Industries Limited | Oil & Gas Refining & Marketing |
ADANIENT | Adani Enterprises Limited | Thermal Coal |
ONGC | Oil & Natural Gas Corporation Limited | Oil & Gas Integrated |
COALINDIA | Coal India Limited | Thermal Coal |
IOC | Indian Oil Corporation Limited | Oil & Gas Refining & Marketing |
Summary
CONFIPET is expected to reach the target of 88.72 in tomorrow's trading session.
After achieving the initial target in CONFIPET, we will aim for higher targets of 90.49 tomorrow.
However, if CONFIPET starts to trade below ₹87.61, then we will shift our focus to the sell side and aim for down targets of 85.84 and 84.73.