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

Sunflag Iron And Steel Company Limited

Symbol: NSE:SUNFLAG

ISIN: INE947A01014

210.02

As on 2024-06-13

146.00 (52W Low) 248.80 (52W High)

SUNFLAG's Today's Performance

Sunflag Iron And Steel Company Limited started the day by opening at 212.40 today 2024-06-13. Its shares reached a high of 216.00 and dipped to a low of 208.60 in intraday. When the markets closed, SUNFLAG’s stock price settled at ₹210.02 per share. Also check out its key support and resistance levels.

SUNFLAG Buy/Sell Targets

Tomorrow, sell SUNFLAG when its price reaches ₹ 210.02 with a stop-loss order at ₹ 213.25. You can set the target price as ₹ 206.79 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 SUNFLAG 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 SUNFLAG

Downside Targets Value in ₹
Tomorrow Down Target 1 214
Tomorrow Down Target 2 219
Tomorrow Down Target 3 222

Important Levels for SUNFLAG

Holding Levels Value in ₹
Tomorrow Up Target 1 207
Tomorrow Up Target 2 204
Tomorrow Up Target 3 200
Based on where the stock opens tomorrow, if SUNFLAG opens on a positive note, our first target will be ₹214. If Target 1 is achieved, we will aim for Target 2 which is ₹219.

But if SUNFLAG falls below the average value of ₹211.54, you can enter a sell side position with target number 1 - ₹207 and second target - ₹204 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 SUNFLAG

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

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

Tomorrow's Volume based share price Forecast for SUNFLAG

SUNFLAG'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 -30%.

Reversal detection for SUNFLAG

Predicted trend chart of SUNFLAG tomorrow for price forecast
SUNFLAG may trend may continue to be bearish since stock is making lower low and we can get target of ₹212 in morning tomorrow
Target 1 tomorrow214
Target 2 tomorrow216
Target 3 tomorrow219
 

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 SUNFLAG'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 SUNFLAG opens on a positive note, our first target will be ₹214.48. If Target 1 is achieved, we will aim for Target 2 which is ₹218.94.

But if SUNFLAG falls below the average value of ₹211.54, you can enter a sell side position with target number 1 - ₹207.08 and second target - ₹204.14

SUNFLAG's Weekly Targets
1st Up Target 214.97
2nd Up Target 219.92
1st Down Target 206.10
2nd Down Target 202.18

As the week for SUNFLAG ended on bullish sentiments, we can expect further continuation of this sentiment. SUNFLAG's initial target will be 214.97 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 206.10 in the upcoming week.

Weekly OHLC Values
Open 209.55
High 216.00
Low 207.13
Close 210.02

Week for SUNFLAG started with an open price of 209.55, and the close was at 210.02. SUNFLAG reached the highest of 216.00 and dipped lowest up to 207.13 last week. This indicates a bullish sentiment for the week.

SUNFLAG full month swing targets
Monthly Up Target 1 223.84
Monthly Up Target 2 228.79
Monthly Down Target 1 197.23
Monthly Down Target 2 184.44

Targets of ₹223.84 can be expected to be reached in the coming month. Once SUNFLAG achieved this target, we can aim for the next upside target of ₹228.79.

SUNFLAG if fails to hold upside, down targets of ₹197.23 and ₹184.44 can be achieved by end of this month.

For complete three weeks if SUNFLAG 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 SUNFLAG

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

SUNFLAG is expected to reach the target of 214.48 in tomorrow's trading session.

After achieving the initial target in SUNFLAG, we will aim for higher targets of 218.94 tomorrow.

However, if SUNFLAG starts to trade below ₹211.54, then we will shift our focus to the sell side and aim for down targets of 207.08 and 204.14.