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

Central Bank of India

Symbol: NSE:CENTRALBK

ISIN: INE483A01010

63.90

As on 2024-04-12

24.50 (52W Low) 76.90 (52W High)

CENTRALBK's Today's Performance

Central Bank of India started the day by opening at 64.85 today 2024-04-12. Its shares reached a high of 65.45 and dipped to a low of 63.70 in intraday. When the markets closed, CENTRALBK’s stock price settled at ₹63.90 per share. Also check out its key support and resistance levels.

CENTRALBK Buy/Sell Targets

Tomorrow, sell CENTRALBK when its price reaches ₹ 63.90 with a stop-loss order at ₹ 64.88. You can set the target price as ₹ 62.92 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 CENTRALBK 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 CENTRALBK

Resistance Levels Value in ₹
Tomorrow Resistance 1 65
Tomorrow Resistance 2 66
Tomorrow Resistance 3 67

Important Supports for CENTRALBK

Support Levels Value in ₹
Tomorrow Support 1 63
Tomorrow Support 2 63
Tomorrow Support 3 62
Based on where the stock opens tomorrow, if CENTRALBK opens on a positive note, our first target will be ₹65. If Target 1 is achieved, we will aim for Target 2 which is ₹66.

But if CENTRALBK falls below the average value of ₹64.35, you can enter a sell side position with target number 1 - ₹63 and second target - ₹63 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 CENTRALBK

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

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

Tomorrow's Volume based share price Forecast for CENTRALBK

CENTRALBK'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 30%.

Reversal detection for CENTRALBK

Predicted trend chart of CENTRALBK tomorrow for price forecast
CENTRALBK may trend may continue to be bearish since stock is making lower low and we can get target of ₹65 in morning tomorrow
Target 1 tomorrow65
Target 2 tomorrow65
Target 3 tomorrow66
 

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 CENTRALBK'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 CENTRALBK opens on a positive note, our first target will be ₹65.00. If Target 1 is achieved, we will aim for Target 2 which is ₹66.10.

But if CENTRALBK falls below the average value of ₹64.35, you can enter a sell side position with target number 1 - ₹63.25 and second target - ₹62.60

CENTRALBK's Weekly Targets
1st Up Target 65.58
2nd Up Target 67.27
1st Down Target 62.58
2nd Down Target 61.27

As the week for CENTRALBK ended on bearish sentiments, we can expect further continuation of this sentiment. CENTRALBK's initial target will be 65.58 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 62.58 in the upcoming week.

Weekly OHLC Values
Open 65.85
High 65.95
Low 62.95
Close 63.90

Week for CENTRALBK started with an open price of 65.85, and the close was at 63.90. CENTRALBK reached the highest of 65.95 and dipped lowest up to 62.95 last week. This indicates a bearish sentiment for the week.

CENTRALBK full month swing targets
Monthly Up Target 1 68.58
Monthly Up Target 2 70.27
Monthly Down Target 1 59.58
Monthly Down Target 2 55.27

Targets of ₹68.58 can be expected to be reached in the coming month. Once CENTRALBK achieved this target, we can aim for the next upside target of ₹70.27.

CENTRALBK if fails to hold upside, down targets of ₹59.58 and ₹55.27 can be achieved by end of this month.

For complete three weeks if CENTRALBK 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 CENTRALBK

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BAJFINANCE Bajaj Finance Limited Credit Services

Summary

CENTRALBK is expected to reach the target of 65.00 in tomorrow's trading session.

After achieving the initial target in CENTRALBK, we will aim for higher targets of 66.10 tomorrow.

However, if CENTRALBK starts to trade below ₹64.35, then we will shift our focus to the sell side and aim for down targets of 63.25 and 62.60.