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Price and trend forecast of PARADEEP for Tomorrow, Weekly, Monthly

Paradeep Phosphates Limited

Symbol: NSE:PARADEEP

ISIN: INE088F01024

83.61

As on 2024-07-23

58.65 (52W Low) 95.74 (52W High)

PARADEEP's Today's Performance

Paradeep Phosphates Limited started the day by opening at 88.30 today 2024-07-23. Its shares reached a high of 88.39 and dipped to a low of 82.00 in intraday. When the markets closed, PARADEEP’s stock price settled at ₹83.61 per share. Also check out its key support and resistance levels.

PARADEEP Buy/Sell Targets

Tomorrow, sell PARADEEP when its price reaches ₹ 83.61 with a stop-loss order at ₹ 86.40. You can set the target price as ₹ 80.82 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 PARADEEP 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 PARADEEP

Downside Targets Value in ₹
Tomorrow Down Target 1 87
Tomorrow Down Target 2 91
Tomorrow Down Target 3 94

Important Levels for PARADEEP

Holding Levels Value in ₹
Tomorrow Up Target 1 81
Tomorrow Up Target 2 78
Tomorrow Up Target 3 75
Based on where the stock opens tomorrow, if PARADEEP opens on a positive note, our first target will be ₹87. If Target 1 is achieved, we will aim for Target 2 which is ₹91.

But if PARADEEP falls below the average value of ₹84.67, you can enter a sell side position with target number 1 - ₹81 and second target - ₹78 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 PARADEEP

Looking at PARADEEP, we've seen a Increasing 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, PARADEEP has been on a Downward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for PARADEEP is moderate bearish.

Tomorrow's Volume based share price Forecast for PARADEEP

PARADEEP's Volume is currently in a Increasing 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 -7%.

Reversal detection for PARADEEP

Predicted trend chart of PARADEEP tomorrow for price forecast
PARADEEP may trend may continue to be bearish since stock is making lower low and we can get target of ₹88 in morning tomorrow
Target 1 tomorrow87
Target 2 tomorrow89
Target 3 tomorrow91
 

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 PARADEEP'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 PARADEEP opens on a positive note, our first target will be ₹87.33. If Target 1 is achieved, we will aim for Target 2 which is ₹91.06.

But if PARADEEP falls below the average value of ₹84.67, you can enter a sell side position with target number 1 - ₹80.94 and second target - ₹78.28

PARADEEP's Weekly Targets
1st Up Target 88.91
2nd Up Target 94.20
1st Down Target 80.16
2nd Down Target 76.70

As the week for PARADEEP ended on bearish sentiments, we can expect further continuation of this sentiment. PARADEEP's initial target will be 88.91 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 80.16 in the upcoming week.

Weekly OHLC Values
Open 85.80
High 90.75
Low 82.00
Close 83.61

Week for PARADEEP started with an open price of 85.80, and the close was at 83.61. PARADEEP reached the highest of 90.75 and dipped lowest up to 82.00 last week. This indicates a bearish sentiment for the week.

PARADEEP full month swing targets
Monthly Up Target 1 97.66
Monthly Up Target 2 102.95
Monthly Down Target 1 71.41
Monthly Down Target 2 59.20

Targets of ₹97.66 can be expected to be reached in the coming month. Once PARADEEP achieved this target, we can aim for the next upside target of ₹102.95.

PARADEEP if fails to hold upside, down targets of ₹71.41 and ₹59.20 can be achieved by end of this month.

For complete three weeks if PARADEEP 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.

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Summary

PARADEEP is expected to reach the target of 87.33 in tomorrow's trading session.

After achieving the initial target in PARADEEP, we will aim for higher targets of 91.06 tomorrow.

However, if PARADEEP starts to trade below ₹84.67, then we will shift our focus to the sell side and aim for down targets of 80.94 and 78.28.