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

Alankit Limited

Symbol: NSE:ALANKIT

ISIN: INE914E01040

17.40

As on 2024-04-12

8.15 (52W Low) 23.60 (52W High)

ALANKIT's Today's Performance

Alankit Limited started the day by opening at 17.45 today 2024-04-12. Its shares reached a high of 17.50 and dipped to a low of 17.40 in intraday. When the markets closed, ALANKIT’s stock price settled at ₹17.40 per share. Also check out its key support and resistance levels.

ALANKIT Buy/Sell Targets

Tomorrow, buy ALANKIT when its price reaches ₹ 17.40 with a stop-loss order at ₹ 17.25. You can set the target price as ₹ 17.55 to capture potential gains. This buy 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 ALANKIT 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 ALANKIT

Resistance Levels Value in ₹
Tomorrow Resistance 1 17
Tomorrow Resistance 2 18
Tomorrow Resistance 3 18

Important Supports for ALANKIT

Support Levels Value in ₹
Tomorrow Support 1 17
Tomorrow Support 2 17
Tomorrow Support 3 17
Based on where the stock opens tomorrow, if ALANKIT opens on a positive note, our first target will be ₹17. If Target 1 is achieved, we will aim for Target 2 which is ₹18.

But if ALANKIT falls below the average value of ₹17.43, you can enter a sell side position with target number 1 - ₹17 and second target - ₹17 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 ALANKIT

Looking at ALANKIT, we've seen a Increasing 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, ALANKIT has been on a Downward path, giving us insights how its value changes in the market.

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

Tomorrow's Volume based share price Forecast for ALANKIT

ALANKIT's Volume is currently in a Increasing 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 -6%.

Reversal detection for ALANKIT

Predicted trend chart of ALANKIT tomorrow for price forecast
ALANKIT may trend may continue to be bullish since stock is making higher highs and we can get target of ₹17 in morning tomorrow
Target 1 tomorrow17
Target 2 tomorrow17
Target 3 tomorrow18
 

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 ALANKIT'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 ALANKIT opens on a positive note, our first target will be ₹17.47. If Target 1 is achieved, we will aim for Target 2 which is ₹17.53.

But if ALANKIT falls below the average value of ₹17.43, you can enter a sell side position with target number 1 - ₹17.37 and second target - ₹17.33

ALANKIT's Weekly Targets
1st Up Target 17.68
2nd Up Target 17.97
1st Down Target 17.08
2nd Down Target 16.77

As the week for ALANKIT ended on bullish sentiments, we can expect further continuation of this sentiment. ALANKIT's initial target will be 17.68 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 17.08 in the upcoming week.

Weekly OHLC Values
Open 17.35
High 17.65
Low 17.05
Close 17.40

Week for ALANKIT started with an open price of 17.35, and the close was at 17.40. ALANKIT reached the highest of 17.65 and dipped lowest up to 17.05 last week. This indicates a bullish sentiment for the week.

ALANKIT full month swing targets
Monthly Up Target 1 18.28
Monthly Up Target 2 18.57
Monthly Down Target 1 16.48
Monthly Down Target 2 15.57

Targets of ₹18.28 can be expected to be reached in the coming month. Once ALANKIT achieved this target, we can aim for the next upside target of ₹18.57.

ALANKIT if fails to hold upside, down targets of ₹16.48 and ₹15.57 can be achieved by end of this month.

For complete three weeks if ALANKIT 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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Summary

ALANKIT is expected to reach the target of 17.47 in tomorrow's trading session.

After achieving the initial target in ALANKIT, we will aim for higher targets of 17.53 tomorrow.

However, if ALANKIT starts to trade below ₹17.43, then we will shift our focus to the sell side and aim for down targets of 17.37 and 17.33.