Price and trend forecast of DCMSHRIRAM for Tomorrow, Weekly, Monthly
DCM Shriram Limited
Symbol: NSE:DCMSHRIRAM
ISIN: INE499A01024
1,032.75
As on 2024-07-26
DCMSHRIRAM's Today's Performance
DCM Shriram Limited started the day by opening at 1,041.00 today 2024-07-26. Its shares reached a high of 1,041.00 and dipped to a low of 1,026.70 in intraday. When the markets closed, DCMSHRIRAM’s stock price settled at ₹1,032.75 per share. Also check out its key support and resistance levels.
DCMSHRIRAM Buy/Sell Targets
Tomorrow, sell DCMSHRIRAM when its price reaches ₹ 1,032.75 with a stop-loss order at ₹ 1,044.43. You can set the target price as ₹ 1,021.07 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 DCMSHRIRAM 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 DCMSHRIRAM
| Downside Targets | Value in ₹ |
|---|---|
| Tomorrow Down Target 1 | 1,040 |
| Tomorrow Down Target 2 | 1,048 |
| Tomorrow Down Target 3 | 1,055 |
Important Levels for DCMSHRIRAM
| Holding Levels | Value in ₹ |
|---|---|
| Tomorrow Up Target 1 | 1,026 |
| Tomorrow Up Target 2 | 1,019 |
| Tomorrow Up Target 3 | 1,012 |
Based on where the stock opens tomorrow, if DCMSHRIRAM opens on a positive note, our first target will be ₹1,040. If Target 1 is achieved, we will aim for Target 2 which is ₹1,048.
But if DCMSHRIRAM falls below the average value of ₹1,033.48, you can enter a sell side position with target number 1 - ₹1,026 and second target - ₹1,019 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 DCMSHRIRAM
Looking at DCMSHRIRAM, 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, DCMSHRIRAM has been on a Upward path, giving us insights how its value changes in the market.
Based on this, the predicted sentiment for DCMSHRIRAM is moderate bullish.
Tomorrow's Volume based share price Forecast for DCMSHRIRAM
DCMSHRIRAM's Volume is currently in a Decreasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a moderate bullish trend. Volume trend strength over the last month compared to the last week is -37%.
Reversal detection for DCMSHRIRAM
DCMSHRIRAM may trend may continue to be bearish since stock is making lower low and we can get target of ₹1031 in morning tomorrow
| Target 1 tomorrow | 1039 |
| Target 2 tomorrow | 1042 |
| Target 3 tomorrow | 1048 |
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 DCMSHRIRAM'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 DCMSHRIRAM opens on a positive note, our first target will be ₹1,040.27. If Target 1 is achieved, we will aim for Target 2 which is ₹1,047.78.
But if DCMSHRIRAM falls below the average value of ₹1,033.48, you can enter a sell side position with target number 1 - ₹1,025.97 and second target - ₹1,019.18
DCMSHRIRAM's Weekly Targets
| 1st Up Target | 1,063.57 |
| 2nd Up Target | 1,094.38 |
| 1st Down Target | 981.47 |
| 2nd Down Target | 930.18 |
As the week for DCMSHRIRAM ended on bullish sentiments, we can expect further continuation of this sentiment. DCMSHRIRAM's initial target will be 1,063.57 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 981.47 in the upcoming week.
Weekly OHLC Values
| Open | 969.95 |
| High | 1,043.10 |
| Low | 961.00 |
| Close | 1,032.75 |
Week for DCMSHRIRAM started with an open price of 969.95, and the close was at 1,032.75. DCMSHRIRAM reached the highest of 1,043.10 and dipped lowest up to 961.00 last week. This indicates a bullish sentiment for the week.
DCMSHRIRAM full month swing targets
| Monthly Up Target 1 | 1,145.67 |
| Monthly Up Target 2 | 1,176.48 |
| Monthly Down Target 1 | 899.37 |
| Monthly Down Target 2 | 765.98 |
Targets of ₹1,145.67 can be expected to be reached in the coming month. Once DCMSHRIRAM achieved this target, we can aim for the next upside target of ₹1,176.48.
DCMSHRIRAM if fails to hold upside, down targets of ₹899.37 and ₹765.98 can be achieved by end of this month.
For complete three weeks if DCMSHRIRAM 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 DCMSHRIRAM
| Symbol | Name | Industry |
|---|---|---|
| ULTRACEMCO | UltraTech Cement Limited | Building Materials |
| ASIANPAINT | Asian Paints Limited | Specialty Chemicals |
| JSWSTEEL | JSW Steel Limited | Steel |
| TATASTEEL | Tata Steel Limited | Steel |
| GRASIM | Grasim Industries Limited | Building Materials |
Summary
DCMSHRIRAM is expected to reach the target of 1,040.27 in tomorrow's trading session.
After achieving the initial target in DCMSHRIRAM, we will aim for higher targets of 1,047.78 tomorrow.
However, if DCMSHRIRAM starts to trade below ₹1,033.48, then we will shift our focus to the sell side and aim for down targets of 1,025.97 and 1,019.18.