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

Chembond Chemicals Ltd

Symbol: NSE:CHEMBOND

ISIN: INE995D01025

614.30

As on 2024-07-19

329.90 (52W Low) 743.20 (52W High)

CHEMBOND's Today's Performance

Chembond Chemicals Ltd started the day by opening at 628.45 today 2024-07-19. Its shares reached a high of 628.45 and dipped to a low of 604.95 in intraday. When the markets closed, CHEMBOND’s stock price settled at ₹614.30 per share. Also check out its key support and resistance levels.

CHEMBOND Buy/Sell Targets

Tomorrow, sell CHEMBOND when its price reaches ₹ 614.30 with a stop-loss order at ₹ 622.63. You can set the target price as ₹ 605.97 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 CHEMBOND 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 CHEMBOND

Downside Targets Value in ₹
Tomorrow Down Target 1 627
Tomorrow Down Target 2 639
Tomorrow Down Target 3 650

Important Levels for CHEMBOND

Holding Levels Value in ₹
Tomorrow Up Target 1 603
Tomorrow Up Target 2 592
Tomorrow Up Target 3 580
Based on where the stock opens tomorrow, if CHEMBOND opens on a positive note, our first target will be ₹627. If Target 1 is achieved, we will aim for Target 2 which is ₹639.

But if CHEMBOND falls below the average value of ₹615.90, you can enter a sell side position with target number 1 - ₹603 and second target - ₹592 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 CHEMBOND

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

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

Tomorrow's Volume based share price Forecast for CHEMBOND

CHEMBOND'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 -87%.

Reversal detection for CHEMBOND

Predicted trend chart of CHEMBOND tomorrow for price forecast
CHEMBOND may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹632 in morning tomorrow
Target 1 tomorrow625
Target 2 tomorrow630
Target 3 tomorrow639
 

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 CHEMBOND'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 CHEMBOND opens on a positive note, our first target will be ₹626.85. If Target 1 is achieved, we will aim for Target 2 which is ₹639.40.

But if CHEMBOND falls below the average value of ₹615.90, you can enter a sell side position with target number 1 - ₹603.35 and second target - ₹592.40

CHEMBOND's Weekly Targets
1st Up Target 636.42
2nd Up Target 658.53
1st Down Target 598.57
2nd Down Target 582.83

As the week for CHEMBOND ended on bearish sentiments, we can expect further continuation of this sentiment. CHEMBOND's initial target will be 636.42 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 598.57 in the upcoming week.

Weekly OHLC Values
Open 642.80
High 642.80
Low 604.95
Close 614.30

Week for CHEMBOND started with an open price of 642.80, and the close was at 614.30. CHEMBOND reached the highest of 642.80 and dipped lowest up to 604.95 last week. This indicates a bearish sentiment for the week.

CHEMBOND full month swing targets
Monthly Up Target 1 674.27
Monthly Up Target 2 696.38
Monthly Down Target 1 560.72
Monthly Down Target 2 507.13

Targets of ₹674.27 can be expected to be reached in the coming month. Once CHEMBOND achieved this target, we can aim for the next upside target of ₹696.38.

CHEMBOND if fails to hold upside, down targets of ₹560.72 and ₹507.13 can be achieved by end of this month.

For complete three weeks if CHEMBOND 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 CHEMBOND

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GRASIM Grasim Industries Limited Building Materials

Summary

CHEMBOND is expected to reach the target of 626.85 in tomorrow's trading session.

After achieving the initial target in CHEMBOND, we will aim for higher targets of 639.40 tomorrow.

However, if CHEMBOND starts to trade below ₹615.90, then we will shift our focus to the sell side and aim for down targets of 603.35 and 592.40.