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

Bombay Dyeing & Mfg Company Limited

Symbol: NSE:BOMDYEING

ISIN: INE032A01023

177.05

As on 2024-05-27

79.40 (52W Low) 196.90 (52W High)

BOMDYEING's Today's Performance

Bombay Dyeing & Mfg Company Limited started the day by opening at 180.90 today 2024-05-27. Its shares reached a high of 181.70 and dipped to a low of 175.75 in intraday. When the markets closed, BOMDYEING’s stock price settled at ₹177.05 per share. Also check out its key support and resistance levels.

BOMDYEING Buy/Sell Targets

Tomorrow, sell BOMDYEING when its price reaches ₹ 177.05 with a stop-loss order at ₹ 179.70. You can set the target price as ₹ 174.40 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 BOMDYEING 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 BOMDYEING

Downside Targets Value in ₹
Tomorrow Down Target 1 181
Tomorrow Down Target 2 184
Tomorrow Down Target 3 187

Important Levels for BOMDYEING

Holding Levels Value in ₹
Tomorrow Up Target 1 175
Tomorrow Up Target 2 172
Tomorrow Up Target 3 169
Based on where the stock opens tomorrow, if BOMDYEING opens on a positive note, our first target will be ₹181. If Target 1 is achieved, we will aim for Target 2 which is ₹184.

But if BOMDYEING falls below the average value of ₹178.17, you can enter a sell side position with target number 1 - ₹175 and second target - ₹172 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 BOMDYEING

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

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

Tomorrow's Volume based share price Forecast for BOMDYEING

BOMDYEING's Volume is currently in a Decreasing 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 59%.

Reversal detection for BOMDYEING

Predicted trend chart of BOMDYEING tomorrow for price forecast
BOMDYEING may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹182 in morning tomorrow
Target 1 tomorrow180
Target 2 tomorrow182
Target 3 tomorrow184
 

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 BOMDYEING'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 BOMDYEING opens on a positive note, our first target will be ₹180.58. If Target 1 is achieved, we will aim for Target 2 which is ₹184.12.

But if BOMDYEING falls below the average value of ₹178.17, you can enter a sell side position with target number 1 - ₹174.63 and second target - ₹172.22

BOMDYEING's Weekly Targets
1st Up Target 180.58
2nd Up Target 184.12
1st Down Target 174.63
2nd Down Target 172.22

As the week for BOMDYEING ended on bearish sentiments, we can expect further continuation of this sentiment. BOMDYEING's initial target will be 180.58 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 174.63 in the upcoming week.

Weekly OHLC Values
Open 180.90
High 181.70
Low 175.75
Close 177.05

Week for BOMDYEING started with an open price of 180.90, and the close was at 177.05. BOMDYEING reached the highest of 181.70 and dipped lowest up to 175.75 last week. This indicates a bearish sentiment for the week.

BOMDYEING full month swing targets
Monthly Up Target 1 186.53
Monthly Up Target 2 190.07
Monthly Down Target 1 168.68
Monthly Down Target 2 160.32

Targets of ₹186.53 can be expected to be reached in the coming month. Once BOMDYEING achieved this target, we can aim for the next upside target of ₹190.07.

BOMDYEING if fails to hold upside, down targets of ₹168.68 and ₹160.32 can be achieved by end of this month.

For complete three weeks if BOMDYEING 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

BOMDYEING is expected to reach the target of 180.58 in tomorrow's trading session.

After achieving the initial target in BOMDYEING, we will aim for higher targets of 184.12 tomorrow.

However, if BOMDYEING starts to trade below ₹178.17, then we will shift our focus to the sell side and aim for down targets of 174.63 and 172.22.