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

Wheels India Limited

Symbol: NSE:WHEELS

ISIN: INE715A01015

710.90

As on 2024-11-08

548.00 (52W Low) 914.95 (52W High)

WHEELS's Today's Performance

Wheels India Limited started the day by opening at 721.00 today 2024-11-08. Its shares reached a high of 721.85 and dipped to a low of 707.00 in intraday. When the markets closed, WHEELS’s stock price settled at ₹710.90 per share. Also check out its key support and resistance levels.

WHEELS Buy/Sell Targets

Tomorrow, sell WHEELS when its price reaches ₹ 710.90 with a stop-loss order at ₹ 719.01. You can set the target price as ₹ 702.79 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 WHEELS 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 WHEELS

Downside Targets Value in ₹
Tomorrow Down Target 1 720
Tomorrow Down Target 2 728
Tomorrow Down Target 3 734

Important Levels for WHEELS

Holding Levels Value in ₹
Tomorrow Up Target 1 705
Tomorrow Up Target 2 698
Tomorrow Up Target 3 690
Based on where the stock opens tomorrow, if WHEELS opens on a positive note, our first target will be ₹720. If Target 1 is achieved, we will aim for Target 2 which is ₹728.

But if WHEELS falls below the average value of ₹713.25, you can enter a sell side position with target number 1 - ₹705 and second target - ₹698 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 WHEELS

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

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

Tomorrow's Volume based share price Forecast for WHEELS

WHEELS'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 -11%.

Reversal detection for WHEELS

Predicted trend chart of WHEELS tomorrow for price forecast
WHEELS may trend may continue to be bearish since stock is making lower low and we can get target of ₹718 in morning tomorrow
Target 1 tomorrow719
Target 2 tomorrow722
Target 3 tomorrow728
 

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 WHEELS'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 WHEELS opens on a positive note, our first target will be ₹719.50. If Target 1 is achieved, we will aim for Target 2 which is ₹728.10.

But if WHEELS falls below the average value of ₹713.25, you can enter a sell side position with target number 1 - ₹704.65 and second target - ₹698.40

WHEELS's Weekly Targets
1st Up Target 728.73
2nd Up Target 746.57
1st Down Target 689.33
2nd Down Target 667.77

As the week for WHEELS ended on bearish sentiments, we can expect further continuation of this sentiment. WHEELS's initial target will be 728.73 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 689.33 in the upcoming week.

Weekly OHLC Values
Open 712.00
High 725.00
Low 685.60
Close 710.90

Week for WHEELS started with an open price of 712.00, and the close was at 710.90. WHEELS reached the highest of 725.00 and dipped lowest up to 685.60 last week. This indicates a bearish sentiment for the week.

WHEELS full month swing targets
Monthly Up Target 1 768.13
Monthly Up Target 2 785.97
Monthly Down Target 1 649.93
Monthly Down Target 2 588.97

Targets of ₹768.13 can be expected to be reached in the coming month. Once WHEELS achieved this target, we can aim for the next upside target of ₹785.97.

WHEELS if fails to hold upside, down targets of ₹649.93 and ₹588.97 can be achieved by end of this month.

For complete three weeks if WHEELS 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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TITAN Titan Company Limited Luxury Goods
BAJAJ-AUTO Bajaj Auto Limited Auto Manufacturers

Summary

WHEELS is expected to reach the target of 719.50 in tomorrow's trading session.

After achieving the initial target in WHEELS, we will aim for higher targets of 728.10 tomorrow.

However, if WHEELS starts to trade below ₹713.25, then we will shift our focus to the sell side and aim for down targets of 704.65 and 698.40.