Price and trend forecast of SUMIT for Tomorrow, Weekly, Monthly
Sumit Woods Limited
Symbol: NSE:SUMIT
ISIN: INE748Z01013
149.33
As on 2024-09-11
SUMIT's Today's Performance
Sumit Woods Limited started the day by opening at 155.42 today 2024-09-11. Its shares reached a high of 155.42 and dipped to a low of 149.33 in intraday. When the markets closed, SUMIT’s stock price settled at ₹149.33 per share. Also check out its key support and resistance levels.
SUMIT Buy/Sell Targets
Tomorrow, sell SUMIT when its price reaches ₹ 149.33 with a stop-loss order at ₹ 150.35. You can set the target price as ₹ 148.32 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 SUMIT 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 SUMIT
| Downside Targets | Value in ₹ |
|---|---|
| Tomorrow Down Target 1 | 153 |
| Tomorrow Down Target 2 | 157 |
| Tomorrow Down Target 3 | 159 |
Important Levels for SUMIT
| Holding Levels | Value in ₹ |
|---|---|
| Tomorrow Up Target 1 | 147 |
| Tomorrow Up Target 2 | 145 |
| Tomorrow Up Target 3 | 141 |
Based on where the stock opens tomorrow, if SUMIT opens on a positive note, our first target will be ₹153. If Target 1 is achieved, we will aim for Target 2 which is ₹157.
But if SUMIT falls below the average value of ₹151.36, you can enter a sell side position with target number 1 - ₹147 and second target - ₹145 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 SUMIT
Looking at SUMIT, 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, SUMIT has been on a Upward path, giving us insights how its value changes in the market.
Based on this, the predicted sentiment for SUMIT is moderate bullish.
Tomorrow's Volume based share price Forecast for SUMIT
SUMIT'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 -31%.
Reversal detection for SUMIT
SUMIT may reverse its trend from upside (Short term bearish outlook) and we can get target of ₹152 in morning tomorrow
| Target 1 tomorrow | 154 |
| Target 2 tomorrow | 155 |
| Target 3 tomorrow | 157 |
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 SUMIT'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 SUMIT opens on a positive note, our first target will be ₹153.39. If Target 1 is achieved, we will aim for Target 2 which is ₹157.45.
But if SUMIT falls below the average value of ₹151.36, you can enter a sell side position with target number 1 - ₹147.30 and second target - ₹145.27
SUMIT's Weekly Targets
| 1st Up Target | 153.39 |
| 2nd Up Target | 157.45 |
| 1st Down Target | 147.30 |
| 2nd Down Target | 145.27 |
As the week for SUMIT ended on bearish sentiments, we can expect further continuation of this sentiment. SUMIT's initial target will be 153.39 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 147.30 in the upcoming week.
Weekly OHLC Values
| Open | 149.40 |
| High | 155.42 |
| Low | 149.33 |
| Close | 149.33 |
Week for SUMIT started with an open price of 149.40, and the close was at 149.33. SUMIT reached the highest of 155.42 and dipped lowest up to 149.33 last week. This indicates a bearish sentiment for the week.
SUMIT full month swing targets
| Monthly Up Target 1 | 159.48 |
| Monthly Up Target 2 | 163.54 |
| Monthly Down Target 1 | 141.21 |
| Monthly Down Target 2 | 133.09 |
Targets of ₹159.48 can be expected to be reached in the coming month. Once SUMIT achieved this target, we can aim for the next upside target of ₹163.54.
SUMIT if fails to hold upside, down targets of ₹141.21 and ₹133.09 can be achieved by end of this month.
For complete three weeks if SUMIT 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 SUMIT
| Symbol | Name | Industry |
|---|---|---|
| DLF | DLF Limited | Real Estate - Development |
| LODHA | Macrotech Developers Limited | Real Estate - Development |
| GODREJPROP | Godrej Properties Limited | Real Estate - Development |
| OBEROIRLTY | Oberoi Realty Limited | Real Estate - Development |
| PHOENIXLTD | The Phoenix Mills Limited | Real Estate - Diversified |
Summary
SUMIT is expected to reach the target of 153.39 in tomorrow's trading session.
After achieving the initial target in SUMIT, we will aim for higher targets of 157.45 tomorrow.
However, if SUMIT starts to trade below ₹151.36, then we will shift our focus to the sell side and aim for down targets of 147.30 and 145.27.