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

Alembic Limited

Symbol: NSE:ALEMBICLTD

ISIN: INE426A01027

94.40

As on 2024-04-12

59.80 (52W Low) 107.65 (52W High)

ALEMBICLTD's Today's Performance

Alembic Limited started the day by opening at 95.80 today 2024-04-12. Its shares reached a high of 97.25 and dipped to a low of 94.10 in intraday. When the markets closed, ALEMBICLTD’s stock price settled at ₹94.40 per share. Also check out its key support and resistance levels.

ALEMBICLTD Buy/Sell Targets

Tomorrow, sell ALEMBICLTD when its price reaches ₹ 94.40 with a stop-loss order at ₹ 96.33. You can set the target price as ₹ 92.48 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 ALEMBICLTD 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 ALEMBICLTD

Resistance Levels Value in ₹
Tomorrow Resistance 1 96
Tomorrow Resistance 2 98
Tomorrow Resistance 3 100

Important Supports for ALEMBICLTD

Support Levels Value in ₹
Tomorrow Support 1 93
Tomorrow Support 2 92
Tomorrow Support 3 90
Based on where the stock opens tomorrow, if ALEMBICLTD opens on a positive note, our first target will be ₹96. If Target 1 is achieved, we will aim for Target 2 which is ₹98.

But if ALEMBICLTD falls below the average value of ₹95.25, you can enter a sell side position with target number 1 - ₹93 and second target - ₹92 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 ALEMBICLTD

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

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

Tomorrow's Volume based share price Forecast for ALEMBICLTD

ALEMBICLTD'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 20%.

Reversal detection for ALEMBICLTD

Predicted trend chart of ALEMBICLTD tomorrow for price forecast
ALEMBICLTD may trend may continue to be bearish since stock is making lower low and we can get target of ₹97 in morning tomorrow
Target 1 tomorrow96
Target 2 tomorrow97
Target 3 tomorrow98
 

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 ALEMBICLTD'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 ALEMBICLTD opens on a positive note, our first target will be ₹96.40. If Target 1 is achieved, we will aim for Target 2 which is ₹98.40.

But if ALEMBICLTD falls below the average value of ₹95.25, you can enter a sell side position with target number 1 - ₹93.25 and second target - ₹92.10

ALEMBICLTD's Weekly Targets
1st Up Target 98.23
2nd Up Target 102.07
1st Down Target 92.33
2nd Down Target 90.27

As the week for ALEMBICLTD ended on bearish sentiments, we can expect further continuation of this sentiment. ALEMBICLTD's initial target will be 98.23 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 92.33 in the upcoming week.

Weekly OHLC Values
Open 97.00
High 100.00
Low 94.10
Close 94.40

Week for ALEMBICLTD started with an open price of 97.00, and the close was at 94.40. ALEMBICLTD reached the highest of 100.00 and dipped lowest up to 94.10 last week. This indicates a bearish sentiment for the week.

ALEMBICLTD full month swing targets
Monthly Up Target 1 104.13
Monthly Up Target 2 107.97
Monthly Down Target 1 86.43
Monthly Down Target 2 78.47

Targets of ₹104.13 can be expected to be reached in the coming month. Once ALEMBICLTD achieved this target, we can aim for the next upside target of ₹107.97.

ALEMBICLTD if fails to hold upside, down targets of ₹86.43 and ₹78.47 can be achieved by end of this month.

For complete three weeks if ALEMBICLTD 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

ALEMBICLTD is expected to reach the target of 96.40 in tomorrow's trading session.

After achieving the initial target in ALEMBICLTD, we will aim for higher targets of 98.40 tomorrow.

However, if ALEMBICLTD starts to trade below ₹95.25, then we will shift our focus to the sell side and aim for down targets of 93.25 and 92.10.