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

Bandhan Bank Limited

Symbol: NSE:BANDHANBNK

ISIN: INE545U01014

194.23

As on 2024-06-13

169.15 (52W Low) 266.80 (52W High)

BANDHANBNK's Today's Performance

Bandhan Bank Limited started the day by opening at 198.30 today 2024-06-13. Its shares reached a high of 198.85 and dipped to a low of 193.66 in intraday. When the markets closed, BANDHANBNK’s stock price settled at ₹194.23 per share. Also check out its key support and resistance levels.

BANDHANBNK Buy/Sell Targets

Tomorrow, sell BANDHANBNK when its price reaches ₹ 194.23 with a stop-loss order at ₹ 196.68. You can set the target price as ₹ 191.78 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 BANDHANBNK 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 BANDHANBNK

Downside Targets Value in ₹
Tomorrow Down Target 1 198
Tomorrow Down Target 2 201
Tomorrow Down Target 3 203

Important Levels for BANDHANBNK

Holding Levels Value in ₹
Tomorrow Up Target 1 192
Tomorrow Up Target 2 190
Tomorrow Up Target 3 187
Based on where the stock opens tomorrow, if BANDHANBNK opens on a positive note, our first target will be ₹198. If Target 1 is achieved, we will aim for Target 2 which is ₹201.

But if BANDHANBNK falls below the average value of ₹195.58, you can enter a sell side position with target number 1 - ₹192 and second target - ₹190 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 BANDHANBNK

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

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

Tomorrow's Volume based share price Forecast for BANDHANBNK

BANDHANBNK'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 48%.

Reversal detection for BANDHANBNK

Predicted trend chart of BANDHANBNK tomorrow for price forecast
BANDHANBNK may trend may continue to be bearish since stock is making lower low and we can get target of ₹198 in morning tomorrow
Target 1 tomorrow198
Target 2 tomorrow199
Target 3 tomorrow201
 

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 BANDHANBNK'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 BANDHANBNK opens on a positive note, our first target will be ₹197.50. If Target 1 is achieved, we will aim for Target 2 which is ₹200.77.

But if BANDHANBNK falls below the average value of ₹195.58, you can enter a sell side position with target number 1 - ₹192.31 and second target - ₹190.39

BANDHANBNK's Weekly Targets
1st Up Target 200.13
2nd Up Target 206.02
1st Down Target 191.00
2nd Down Target 187.76

As the week for BANDHANBNK ended on bearish sentiments, we can expect further continuation of this sentiment. BANDHANBNK's initial target will be 200.13 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 191.00 in the upcoming week.

Weekly OHLC Values
Open 196.55
High 202.79
Low 193.66
Close 194.23

Week for BANDHANBNK started with an open price of 196.55, and the close was at 194.23. BANDHANBNK reached the highest of 202.79 and dipped lowest up to 193.66 last week. This indicates a bearish sentiment for the week.

BANDHANBNK full month swing targets
Monthly Up Target 1 209.26
Monthly Up Target 2 215.15
Monthly Down Target 1 181.87
Monthly Down Target 2 169.50

Targets of ₹209.26 can be expected to be reached in the coming month. Once BANDHANBNK achieved this target, we can aim for the next upside target of ₹215.15.

BANDHANBNK if fails to hold upside, down targets of ₹181.87 and ₹169.50 can be achieved by end of this month.

For complete three weeks if BANDHANBNK 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 BANDHANBNK

Symbol Name Industry
HDFCBANK HDFC Bank Limited Banks - Regional
ICICIBANK ICICI Bank Limited Banks - Regional
SBIN State Bank of India Banks - Regional
LICI Life Insurance Corporation Of India Insurance - Life
BAJFINANCE Bajaj Finance Limited Credit Services

Summary

BANDHANBNK is expected to reach the target of 197.50 in tomorrow's trading session.

After achieving the initial target in BANDHANBNK, we will aim for higher targets of 200.77 tomorrow.

However, if BANDHANBNK starts to trade below ₹195.58, then we will shift our focus to the sell side and aim for down targets of 192.31 and 190.39.