Price and trend forecast of SOMATEX for Tomorrow, Weekly, Monthly
Soma Textiles & Industries Limited
Symbol: NSE:SOMATEX
ISIN: INE314C01013
50.33
As on 2024-12-20
SOMATEX's Today's Performance
Soma Textiles & Industries Limited started the day by opening at 50.20 today 2024-12-20. Its shares reached a high of 53.60 and dipped to a low of 49.70 in intraday. When the markets closed, SOMATEX’s stock price settled at ₹50.33 per share. Also check out its key support and resistance levels.
SOMATEX Buy/Sell Targets
Tomorrow, sell SOMATEX when its price reaches ₹ 50.33 with a stop-loss order at ₹ 51.62. You can set the target price as ₹ 49.04 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 SOMATEX 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 SOMATEX
| Downside Targets | Value in ₹ |
|---|---|
| Tomorrow Down Target 1 | 53 |
| Tomorrow Down Target 2 | 55 |
| Tomorrow Down Target 3 | 57 |
Important Levels for SOMATEX
| Holding Levels | Value in ₹ |
|---|---|
| Tomorrow Up Target 1 | 49 |
| Tomorrow Up Target 2 | 47 |
| Tomorrow Up Target 3 | 45 |
Based on where the stock opens tomorrow, if SOMATEX opens on a positive note, our first target will be ₹53. If Target 1 is achieved, we will aim for Target 2 which is ₹55.
But if SOMATEX falls below the average value of ₹51.21, you can enter a sell side position with target number 1 - ₹49 and second target - ₹47 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 SOMATEX
Looking at SOMATEX, 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, SOMATEX has been on a Downward path, giving us insights how its value changes in the market.
Based on this, the predicted sentiment for SOMATEX is moderate bearish.
Tomorrow's Volume based share price Forecast for SOMATEX
SOMATEX'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 -21%.
Reversal detection for SOMATEX
SOMATEX may reverse its trend from upside (Short term bearish outlook) and we can get target of ₹52 in morning tomorrow
| Target 1 tomorrow | 53 |
| Target 2 tomorrow | 54 |
| Target 3 tomorrow | 55 |
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 SOMATEX'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 SOMATEX opens on a positive note, our first target will be ₹52.72. If Target 1 is achieved, we will aim for Target 2 which is ₹55.11.
But if SOMATEX falls below the average value of ₹51.21, you can enter a sell side position with target number 1 - ₹48.82 and second target - ₹47.31
SOMATEX's Weekly Targets
| 1st Up Target | 54.45 |
| 2nd Up Target | 58.58 |
| 1st Down Target | 47.95 |
| 2nd Down Target | 45.58 |
As the week for SOMATEX ended on bearish sentiments, we can expect further continuation of this sentiment. SOMATEX's initial target will be 54.45 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 47.95 in the upcoming week.
Weekly OHLC Values
| Open | 55.38 |
| High | 56.20 |
| Low | 49.70 |
| Close | 50.33 |
Week for SOMATEX started with an open price of 55.38, and the close was at 50.33. SOMATEX reached the highest of 56.20 and dipped lowest up to 49.70 last week. This indicates a bearish sentiment for the week.
SOMATEX full month swing targets
| Monthly Up Target 1 | 60.95 |
| Monthly Up Target 2 | 65.08 |
| Monthly Down Target 1 | 41.45 |
| Monthly Down Target 2 | 32.58 |
Targets of ₹60.95 can be expected to be reached in the coming month. Once SOMATEX achieved this target, we can aim for the next upside target of ₹65.08.
SOMATEX if fails to hold upside, down targets of ₹41.45 and ₹32.58 can be achieved by end of this month.
For complete three weeks if SOMATEX 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 SOMATEX
| Symbol | Name | Industry |
|---|---|---|
| MARUTI | Maruti Suzuki India Limited | Auto Manufacturers |
| TATAMTRDVR | Tata Motors Limited | Auto Manufacturers |
| TATAMOTORS | Tata Motors Limited | Auto Manufacturers |
| TITAN | Titan Company Limited | Luxury Goods |
| BAJAJ-AUTO | Bajaj Auto Limited | Auto Manufacturers |
Summary
SOMATEX is expected to reach the target of 52.72 in tomorrow's trading session.
After achieving the initial target in SOMATEX, we will aim for higher targets of 55.11 tomorrow.
However, if SOMATEX starts to trade below ₹51.21, then we will shift our focus to the sell side and aim for down targets of 48.82 and 47.31.