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

SANDUR MANGANESE AND IRON ORES LTD

Symbol: NSE:SANDUMA

ISIN: N/A

531.50

As on 2024-05-17

238.27 (52W Low) 614.00 (52W High)

SANDUMA's Today's Performance

SANDUR MANGANESE AND IRON ORES LTD started the day by opening at 509.00 today 2024-05-17. Its shares reached a high of 531.50 and dipped to a low of 503.30 in intraday. When the markets closed, SANDUMA’s stock price settled at ₹531.50 per share. Also check out its key support and resistance levels.

SANDUMA Buy/Sell Targets

Tomorrow, buy SANDUMA when its price reaches ₹ 531.50 with a stop-loss order at ₹ 519.76. You can set the target price as ₹ 543.24 to capture potential gains. This buy 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 SANDUMA 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 SANDUMA

Downside Targets Value in ₹
Tomorrow Down Target 1 541
Tomorrow Down Target 2 550
Tomorrow Down Target 3 569

Important Levels for SANDUMA

Holding Levels Value in ₹
Tomorrow Up Target 1 513
Tomorrow Up Target 2 494
Tomorrow Up Target 3 485
Based on where the stock opens tomorrow, if SANDUMA opens on a positive note, our first target will be ₹541. If Target 1 is achieved, we will aim for Target 2 which is ₹550.

But if SANDUMA falls below the average value of ₹522.10, you can enter a sell side position with target number 1 - ₹513 and second target - ₹494 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 SANDUMA

Looking at SANDUMA, 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, SANDUMA has been on a Upward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for SANDUMA is moderate bullish.

Tomorrow's Volume based share price Forecast for SANDUMA

SANDUMA's Volume is currently in a Increasing 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 -11%.

Reversal detection for SANDUMA

Predicted trend chart of SANDUMA tomorrow for price forecast
SANDUMA may trend may continue to be bullish since stock is making higher highs and we can get target of ₹511 in morning tomorrow
Target 1 tomorrow533
Target 2 tomorrow540
Target 3 tomorrow550
 

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 SANDUMA'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 SANDUMA opens on a positive note, our first target will be ₹540.90. If Target 1 is achieved, we will aim for Target 2 which is ₹550.30.

But if SANDUMA falls below the average value of ₹522.10, you can enter a sell side position with target number 1 - ₹512.70 and second target - ₹493.90

SANDUMA's Weekly Targets
1st Up Target 552.93
2nd Up Target 574.37
1st Down Target 489.53
2nd Down Target 447.57

As the week for SANDUMA ended on bullish sentiments, we can expect further continuation of this sentiment. SANDUMA's initial target will be 552.93 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 489.53 in the upcoming week.

Weekly OHLC Values
Open 487.00
High 532.40
Low 469.00
Close 531.50

Week for SANDUMA started with an open price of 487.00, and the close was at 531.50. SANDUMA reached the highest of 532.40 and dipped lowest up to 469.00 last week. This indicates a bullish sentiment for the week.

SANDUMA full month swing targets
Monthly Up Target 1 616.33
Monthly Up Target 2 637.77
Monthly Down Target 1 426.13
Monthly Down Target 2 320.77

Targets of ₹616.33 can be expected to be reached in the coming month. Once SANDUMA achieved this target, we can aim for the next upside target of ₹637.77.

SANDUMA if fails to hold upside, down targets of ₹426.13 and ₹320.77 can be achieved by end of this month.

For complete three weeks if SANDUMA 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

SANDUMA is expected to reach the target of 540.90 in tomorrow's trading session.

After achieving the initial target in SANDUMA, we will aim for higher targets of 550.30 tomorrow.

However, if SANDUMA starts to trade below ₹522.10, then we will shift our focus to the sell side and aim for down targets of 512.70 and 493.90.