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

Birla Cable Limited

Symbol: NSE:BIRLACABLE

ISIN: INE800A01015

229.53

As on 2024-12-06

199.60 (52W Low) 340.00 (52W High)

BIRLACABLE's Today's Performance

Birla Cable Limited started the day by opening at 228.48 today 2024-12-06. Its shares reached a high of 234.90 and dipped to a low of 227.01 in intraday. When the markets closed, BIRLACABLE’s stock price settled at ₹229.53 per share. Also check out its key support and resistance levels.

BIRLACABLE Buy/Sell Targets

Tomorrow, buy BIRLACABLE when its price reaches ₹ 229.53 with a stop-loss order at ₹ 225.15. You can set the target price as ₹ 233.91 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 BIRLACABLE 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 BIRLACABLE

Downside Targets Value in ₹
Tomorrow Down Target 1 234
Tomorrow Down Target 2 238
Tomorrow Down Target 3 242

Important Levels for BIRLACABLE

Holding Levels Value in ₹
Tomorrow Up Target 1 226
Tomorrow Up Target 2 223
Tomorrow Up Target 3 218
Based on where the stock opens tomorrow, if BIRLACABLE opens on a positive note, our first target will be ₹234. If Target 1 is achieved, we will aim for Target 2 which is ₹238.

But if BIRLACABLE falls below the average value of ₹230.48, you can enter a sell side position with target number 1 - ₹226 and second target - ₹223 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 BIRLACABLE

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

Based on this, the predicted sentiment for BIRLACABLE is strong bullish.

Tomorrow's Volume based share price Forecast for BIRLACABLE

BIRLACABLE's Volume is currently in a Increasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a strong bullish trend. Volume trend strength over the last month compared to the last week is 559%.

Reversal detection for BIRLACABLE

Predicted trend chart of BIRLACABLE tomorrow for price forecast
BIRLACABLE may trend may continue to be bullish since stock is making higher highs and we can get target of ₹228 in morning tomorrow
Target 1 tomorrow233
Target 2 tomorrow235
Target 3 tomorrow238
 

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 BIRLACABLE'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 BIRLACABLE opens on a positive note, our first target will be ₹233.95. If Target 1 is achieved, we will aim for Target 2 which is ₹238.37.

But if BIRLACABLE falls below the average value of ₹230.48, you can enter a sell side position with target number 1 - ₹226.06 and second target - ₹222.59

BIRLACABLE's Weekly Targets
1st Up Target 237.88
2nd Up Target 246.22
1st Down Target 218.21
2nd Down Target 206.88

As the week for BIRLACABLE ended on bullish sentiments, we can expect further continuation of this sentiment. BIRLACABLE's initial target will be 237.88 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 218.21 in the upcoming week.

Weekly OHLC Values
Open 219.30
High 234.90
Low 215.23
Close 229.53

Week for BIRLACABLE started with an open price of 219.30, and the close was at 229.53. BIRLACABLE reached the highest of 234.90 and dipped lowest up to 215.23 last week. This indicates a bullish sentiment for the week.

BIRLACABLE full month swing targets
Monthly Up Target 1 257.55
Monthly Up Target 2 265.89
Monthly Down Target 1 198.54
Monthly Down Target 2 167.54

Targets of ₹257.55 can be expected to be reached in the coming month. Once BIRLACABLE achieved this target, we can aim for the next upside target of ₹265.89.

BIRLACABLE if fails to hold upside, down targets of ₹198.54 and ₹167.54 can be achieved by end of this month.

For complete three weeks if BIRLACABLE 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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IDEAFORGE ideaForge Technology Limited Computer Hardware

Summary

BIRLACABLE is expected to reach the target of 233.95 in tomorrow's trading session.

After achieving the initial target in BIRLACABLE, we will aim for higher targets of 238.37 tomorrow.

However, if BIRLACABLE starts to trade below ₹230.48, then we will shift our focus to the sell side and aim for down targets of 226.06 and 222.59.