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

Aban Offshore Limited

Symbol: NSE:ABAN

ISIN: INE421A01028

63.15

As on 2024-07-19

39.25 (52W Low) 93.35 (52W High)

ABAN's Today's Performance

Aban Offshore Limited started the day by opening at 63.15 today 2024-07-19. Its shares reached a high of 63.15 and dipped to a low of 63.05 in intraday. When the markets closed, ABAN’s stock price settled at ₹63.15 per share. Also check out its key support and resistance levels.

ABAN Buy/Sell Targets

Tomorrow, sell ABAN when its price reaches ₹ 63.15 with a stop-loss order at ₹ 63.17. You can set the target price as ₹ 63.13 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 ABAN 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 ABAN

Downside Targets Value in ₹
Tomorrow Down Target 1 63
Tomorrow Down Target 2 63
Tomorrow Down Target 3 63

Important Levels for ABAN

Holding Levels Value in ₹
Tomorrow Up Target 1 63
Tomorrow Up Target 2 63
Tomorrow Up Target 3 63
Based on where the stock opens tomorrow, if ABAN opens on a positive note, our first target will be ₹63. If Target 1 is achieved, we will aim for Target 2 which is ₹63.

But if ABAN falls below the average value of ₹63.12, you can enter a sell side position with target number 1 - ₹63 and second target - ₹63 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 ABAN

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

Based on this, the predicted sentiment for ABAN is moderate bearish.

Tomorrow's Volume based share price Forecast for ABAN

ABAN'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 -23%.

Reversal detection for ABAN

Predicted trend chart of ABAN tomorrow for price forecast
ABAN may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹64 in morning tomorrow
Target 1 tomorrow63
Target 2 tomorrow63
Target 3 tomorrow63
 

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 ABAN'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 ABAN opens on a positive note, our first target will be ₹63.18. If Target 1 is achieved, we will aim for Target 2 which is ₹63.22.

But if ABAN falls below the average value of ₹63.12, you can enter a sell side position with target number 1 - ₹63.08 and second target - ₹63.02

ABAN's Weekly Targets
1st Up Target 65.90
2nd Up Target 68.64
1st Down Target 61.73
2nd Down Target 60.30

As the week for ABAN ended on bearish sentiments, we can expect further continuation of this sentiment. ABAN's initial target will be 65.90 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 61.73 in the upcoming week.

Weekly OHLC Values
Open 67.22
High 67.22
Low 63.05
Close 63.15

Week for ABAN started with an open price of 67.22, and the close was at 63.15. ABAN reached the highest of 67.22 and dipped lowest up to 63.05 last week. This indicates a bearish sentiment for the week.

ABAN full month swing targets
Monthly Up Target 1 70.07
Monthly Up Target 2 72.81
Monthly Down Target 1 57.56
Monthly Down Target 2 51.96

Targets of ₹70.07 can be expected to be reached in the coming month. Once ABAN achieved this target, we can aim for the next upside target of ₹72.81.

ABAN if fails to hold upside, down targets of ₹57.56 and ₹51.96 can be achieved by end of this month.

For complete three weeks if ABAN 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 ABAN

Symbol Name Industry
RELIANCE Reliance Industries Limited Oil & Gas Refining & Marketing
ADANIENT Adani Enterprises Limited Thermal Coal
ONGC Oil & Natural Gas Corporation Limited Oil & Gas Integrated
COALINDIA Coal India Limited Thermal Coal
IOC Indian Oil Corporation Limited Oil & Gas Refining & Marketing

Summary

ABAN is expected to reach the target of 63.18 in tomorrow's trading session.

After achieving the initial target in ABAN, we will aim for higher targets of 63.22 tomorrow.

However, if ABAN starts to trade below ₹63.12, then we will shift our focus to the sell side and aim for down targets of 63.08 and 63.02.