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

Automotive Stampings and Assemblies Limited

Symbol: NSE:ASAL

ISIN: INE900C01027

766.10

As on 2024-04-16

301.85 (52W Low) 822.70 (52W High)

ASAL's Today's Performance

Automotive Stampings and Assemblies Limited started the day by opening at 729.80 today 2024-04-16. Its shares reached a high of 777.00 and dipped to a low of 728.45 in intraday. When the markets closed, ASAL’s stock price settled at ₹766.10 per share. Also check out its key support and resistance levels.

ASAL Buy/Sell Targets

Tomorrow, buy ASAL when its price reaches ₹ 766.10 with a stop-loss order at ₹ 741.75. You can set the target price as ₹ 790.45 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 ASAL 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 ASAL

Resistance Levels Value in ₹
Tomorrow Resistance 1 786
Tomorrow Resistance 2 806
Tomorrow Resistance 3 834

Important Supports for ASAL

Support Levels Value in ₹
Tomorrow Support 1 737
Tomorrow Support 2 709
Tomorrow Support 3 689
Based on where the stock opens tomorrow, if ASAL opens on a positive note, our first target will be ₹786. If Target 1 is achieved, we will aim for Target 2 which is ₹806.

But if ASAL falls below the average value of ₹757.18, you can enter a sell side position with target number 1 - ₹737 and second target - ₹709 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 ASAL

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

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

Tomorrow's Volume based share price Forecast for ASAL

ASAL's Volume is currently in a Increasing 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 -37%.

Reversal detection for ASAL

Predicted trend chart of ASAL tomorrow for price forecast
ASAL may reverse its trend from upside (Short term bearish outlook) and we can get target of ₹737 in morning tomorrow
Target 1 tomorrow776
Target 2 tomorrow787
Target 3 tomorrow806
 

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 ASAL'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 ASAL opens on a positive note, our first target will be ₹785.92. If Target 1 is achieved, we will aim for Target 2 which is ₹805.73.

But if ASAL falls below the average value of ₹757.18, you can enter a sell side position with target number 1 - ₹737.37 and second target - ₹708.63

ASAL's Weekly Targets
1st Up Target 787.07
2nd Up Target 808.03
1st Down Target 735.07
2nd Down Target 704.03

As the week for ASAL ended on bullish sentiments, we can expect further continuation of this sentiment. ASAL's initial target will be 787.07 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 735.07 in the upcoming week.

Weekly OHLC Values
Open 732.10
High 777.00
Low 725.00
Close 766.10

Week for ASAL started with an open price of 732.10, and the close was at 766.10. ASAL reached the highest of 777.00 and dipped lowest up to 725.00 last week. This indicates a bullish sentiment for the week.

ASAL full month swing targets
Monthly Up Target 1 839.07
Monthly Up Target 2 860.03
Monthly Down Target 1 683.07
Monthly Down Target 2 600.03

Targets of ₹839.07 can be expected to be reached in the coming month. Once ASAL achieved this target, we can aim for the next upside target of ₹860.03.

ASAL if fails to hold upside, down targets of ₹683.07 and ₹600.03 can be achieved by end of this month.

For complete three weeks if ASAL 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 ASAL

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

ASAL is expected to reach the target of 785.92 in tomorrow's trading session.

After achieving the initial target in ASAL, we will aim for higher targets of 805.73 tomorrow.

However, if ASAL starts to trade below ₹757.18, then we will shift our focus to the sell side and aim for down targets of 737.37 and 708.63.