Price and trend forecast of WALCHANNAG for Tomorrow, Weekly, Monthly
Walchandnagar Industries Limited
Symbol: NSE:WALCHANNAG
ISIN: INE711A01022
313.75
As on 2024-09-06
WALCHANNAG's Today's Performance
Walchandnagar Industries Limited started the day by opening at 322.75 today 2024-09-06. Its shares reached a high of 322.75 and dipped to a low of 309.00 in intraday. When the markets closed, WALCHANNAG’s stock price settled at ₹313.75 per share. Also check out its key support and resistance levels.
WALCHANNAG Buy/Sell Targets
Tomorrow, sell WALCHANNAG when its price reaches ₹ 313.75 with a stop-loss order at ₹ 319.62. You can set the target price as ₹ 307.88 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 WALCHANNAG 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 WALCHANNAG
| Downside Targets | Value in ₹ |
|---|---|
| Tomorrow Down Target 1 | 321 |
| Tomorrow Down Target 2 | 329 |
| Tomorrow Down Target 3 | 335 |
Important Levels for WALCHANNAG
| Holding Levels | Value in ₹ |
|---|---|
| Tomorrow Up Target 1 | 308 |
| Tomorrow Up Target 2 | 301 |
| Tomorrow Up Target 3 | 294 |
Based on where the stock opens tomorrow, if WALCHANNAG opens on a positive note, our first target will be ₹321. If Target 1 is achieved, we will aim for Target 2 which is ₹329.
But if WALCHANNAG falls below the average value of ₹315.17, you can enter a sell side position with target number 1 - ₹308 and second target - ₹301 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 WALCHANNAG
Looking at WALCHANNAG, 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, WALCHANNAG has been on a Downward path, giving us insights how its value changes in the market.
Based on this, the predicted sentiment for WALCHANNAG is moderate bearish.
Tomorrow's Volume based share price Forecast for WALCHANNAG
WALCHANNAG'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 164%.
Reversal detection for WALCHANNAG
WALCHANNAG may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹321 in morning tomorrow
| Target 1 tomorrow | 320 |
| Target 2 tomorrow | 324 |
| Target 3 tomorrow | 329 |
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 WALCHANNAG'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 WALCHANNAG opens on a positive note, our first target will be ₹321.33. If Target 1 is achieved, we will aim for Target 2 which is ₹328.92.
But if WALCHANNAG falls below the average value of ₹315.17, you can enter a sell side position with target number 1 - ₹307.58 and second target - ₹301.42
WALCHANNAG's Weekly Targets
| 1st Up Target | 334.83 |
| 2nd Up Target | 355.92 |
| 1st Down Target | 300.83 |
| 2nd Down Target | 287.92 |
As the week for WALCHANNAG ended on bearish sentiments, we can expect further continuation of this sentiment. WALCHANNAG's initial target will be 334.83 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 300.83 in the upcoming week.
Weekly OHLC Values
| Open | 341.80 |
| High | 343.00 |
| Low | 309.00 |
| Close | 313.75 |
Week for WALCHANNAG started with an open price of 341.80, and the close was at 313.75. WALCHANNAG reached the highest of 343.00 and dipped lowest up to 309.00 last week. This indicates a bearish sentiment for the week.
WALCHANNAG full month swing targets
| Monthly Up Target 1 | 368.83 |
| Monthly Up Target 2 | 389.92 |
| Monthly Down Target 1 | 266.83 |
| Monthly Down Target 2 | 219.92 |
Targets of ₹368.83 can be expected to be reached in the coming month. Once WALCHANNAG achieved this target, we can aim for the next upside target of ₹389.92.
WALCHANNAG if fails to hold upside, down targets of ₹266.83 and ₹219.92 can be achieved by end of this month.
For complete three weeks if WALCHANNAG 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 WALCHANNAG
| Symbol | Name | Industry |
|---|---|---|
| LT | Larsen & Toubro Limited | Engineering & Construction |
| ADANIPORTS | Adani Ports and Special Economic Zone Limited | Marine Shipping |
| HAL | Hindustan Aeronautics Limited | Aerospace & Defense |
| SIEMENS | Siemens Limited | Specialty Industrial Machinery |
| BEL | Bharat Electronics Limited | Aerospace & Defense |
Summary
WALCHANNAG is expected to reach the target of 321.33 in tomorrow's trading session.
After achieving the initial target in WALCHANNAG, we will aim for higher targets of 328.92 tomorrow.
However, if WALCHANNAG starts to trade below ₹315.17, then we will shift our focus to the sell side and aim for down targets of 307.58 and 301.42.