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

Aditya Birla Fashion and Retail Limited

Symbol: NSE:ABFRL

ISIN: INE647O01011

233.95

As on 2024-04-12

184.40 (52W Low) 266.00 (52W High)

ABFRL's Today's Performance

Aditya Birla Fashion and Retail Limited started the day by opening at 238.10 today 2024-04-12. Its shares reached a high of 240.40 and dipped to a low of 233.00 in intraday. When the markets closed, ABFRL’s stock price settled at ₹233.95 per share. Also check out its key support and resistance levels.

ABFRL Buy/Sell Targets

Tomorrow, sell ABFRL when its price reaches ₹ 233.95 with a stop-loss order at ₹ 237.48. You can set the target price as ₹ 230.42 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 ABFRL for tomorrow's session along with weekly support and resistance. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Resistance for ABFRL

Resistance Levels Value in ₹
Tomorrow Resistance 1 239
Tomorrow Resistance 2 243
Tomorrow Resistance 3 246

Important Supports for ABFRL

Support Levels Value in ₹
Tomorrow Support 1 231
Tomorrow Support 2 228
Tomorrow Support 3 224
Based on where the stock opens tomorrow, if ABFRL opens on a positive note, our first target will be ₹239. If Target 1 is achieved, we will aim for Target 2 which is ₹243.

But if ABFRL falls below the average value of ₹235.78, you can enter a sell side position with target number 1 - ₹231 and second target - ₹228 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 ABFRL

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

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

Tomorrow's Volume based share price Forecast for ABFRL

ABFRL'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 -22%.

Reversal detection for ABFRL

Predicted trend chart of ABFRL tomorrow for price forecast
ABFRL may trend may continue to be bearish since stock is making lower low and we can get target of ₹239 in morning tomorrow
Target 1 tomorrow239
Target 2 tomorrow240
Target 3 tomorrow243
 

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 ABFRL'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 ABFRL opens on a positive note, our first target will be ₹238.57. If Target 1 is achieved, we will aim for Target 2 which is ₹243.18.

But if ABFRL falls below the average value of ₹235.78, you can enter a sell side position with target number 1 - ₹231.17 and second target - ₹228.38

ABFRL's Weekly Targets
1st Up Target 241.30
2nd Up Target 248.65
1st Down Target 229.80
2nd Down Target 225.65

As the week for ABFRL ended on bearish sentiments, we can expect further continuation of this sentiment. ABFRL's initial target will be 241.30 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 229.80 in the upcoming week.

Weekly OHLC Values
Open 237.45
High 244.50
Low 233.00
Close 233.95

Week for ABFRL started with an open price of 237.45, and the close was at 233.95. ABFRL reached the highest of 244.50 and dipped lowest up to 233.00 last week. This indicates a bearish sentiment for the week.

ABFRL full month swing targets
Monthly Up Target 1 252.80
Monthly Up Target 2 260.15
Monthly Down Target 1 218.30
Monthly Down Target 2 202.65

Targets of ₹252.80 can be expected to be reached in the coming month. Once ABFRL achieved this target, we can aim for the next upside target of ₹260.15.

ABFRL if fails to hold upside, down targets of ₹218.30 and ₹202.65 can be achieved by end of this month.

For complete three weeks if ABFRL 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 ABFRL

Symbol Name Industry
MARUTI Maruti Suzuki India Limited Auto Manufacturers
TATAMTRDVR Tata Motors Limited Auto Manufacturers
TATAMOTORS Tata Motors Limited Auto Manufacturers
TITAN Titan Company Limited Luxury Goods
BAJAJ-AUTO Bajaj Auto Limited Auto Manufacturers

Summary

ABFRL is expected to reach the target of 238.57 in tomorrow's trading session.

After achieving the initial target in ABFRL, we will aim for higher targets of 243.18 tomorrow.

However, if ABFRL starts to trade below ₹235.78, then we will shift our focus to the sell side and aim for down targets of 231.17 and 228.38.