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

Bodal Chemicals Limited

Symbol: NSE:BODALCHEM

ISIN: INE338D01028

77.85

As on 2024-04-19

64.15 (52W Low) 100.95 (52W High)

BODALCHEM's Today's Performance

Bodal Chemicals Limited started the day by opening at 77.10 today 2024-04-19. Its shares reached a high of 78.30 and dipped to a low of 76.05 in intraday. When the markets closed, BODALCHEM’s stock price settled at ₹77.85 per share. Also check out its key support and resistance levels.

BODALCHEM Buy/Sell Targets

Tomorrow, sell BODALCHEM when its price reaches ₹ 77.85 with a stop-loss order at ₹ 79.06. You can set the target price as ₹ 76.64 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 BODALCHEM 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 BODALCHEM

Downside Targets Value in ₹
Tomorrow Down Target 1 79
Tomorrow Down Target 2 80
Tomorrow Down Target 3 81

Important Levels for BODALCHEM

Holding Levels Value in ₹
Tomorrow Up Target 1 77
Tomorrow Up Target 2 75
Tomorrow Up Target 3 74
Based on where the stock opens tomorrow, if BODALCHEM opens on a positive note, our first target will be ₹79. If Target 1 is achieved, we will aim for Target 2 which is ₹80.

But if BODALCHEM falls below the average value of ₹77.40, you can enter a sell side position with target number 1 - ₹77 and second target - ₹75 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 BODALCHEM

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

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

Tomorrow's Volume based share price Forecast for BODALCHEM

BODALCHEM'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 BODALCHEM

Predicted trend chart of BODALCHEM tomorrow for price forecast
BODALCHEM may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹78 in morning tomorrow
Target 1 tomorrow78
Target 2 tomorrow79
Target 3 tomorrow80
 

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 BODALCHEM'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 BODALCHEM opens on a positive note, our first target will be ₹78.75. If Target 1 is achieved, we will aim for Target 2 which is ₹79.65.

But if BODALCHEM falls below the average value of ₹77.40, you can enter a sell side position with target number 1 - ₹76.50 and second target - ₹75.15

BODALCHEM's Weekly Targets
1st Up Target 79.88
2nd Up Target 81.92
1st Down Target 75.93
2nd Down Target 74.02

As the week for BODALCHEM ended on bearish sentiments, we can expect further continuation of this sentiment. BODALCHEM's initial target will be 79.88 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 75.93 in the upcoming week.

Weekly OHLC Values
Open 78.60
High 80.00
Low 76.05
Close 77.85

Week for BODALCHEM started with an open price of 78.60, and the close was at 77.85. BODALCHEM reached the highest of 80.00 and dipped lowest up to 76.05 last week. This indicates a bearish sentiment for the week.

BODALCHEM full month swing targets
Monthly Up Target 1 83.83
Monthly Up Target 2 85.87
Monthly Down Target 1 71.98
Monthly Down Target 2 66.12

Targets of ₹83.83 can be expected to be reached in the coming month. Once BODALCHEM achieved this target, we can aim for the next upside target of ₹85.87.

BODALCHEM if fails to hold upside, down targets of ₹71.98 and ₹66.12 can be achieved by end of this month.

For complete three weeks if BODALCHEM 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

BODALCHEM is expected to reach the target of 78.75 in tomorrow's trading session.

After achieving the initial target in BODALCHEM, we will aim for higher targets of 79.65 tomorrow.

However, if BODALCHEM starts to trade below ₹77.40, then we will shift our focus to the sell side and aim for down targets of 76.50 and 75.15.