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

Chemcon Speciality Chemicals Limited

Symbol: NSE:CHEMCON

ISIN: INE03YM01018

259.50

As on 2024-04-12

230.05 (52W Low) 319.45 (52W High)

CHEMCON's Today's Performance

Chemcon Speciality Chemicals Limited started the day by opening at 263.00 today 2024-04-12. Its shares reached a high of 265.45 and dipped to a low of 256.65 in intraday. When the markets closed, CHEMCON’s stock price settled at ₹259.50 per share. Also check out its key support and resistance levels.

CHEMCON Buy/Sell Targets

Tomorrow, sell CHEMCON when its price reaches ₹ 259.50 with a stop-loss order at ₹ 263.94. You can set the target price as ₹ 255.06 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 CHEMCON 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 CHEMCON

Resistance Levels Value in ₹
Tomorrow Resistance 1 264
Tomorrow Resistance 2 269
Tomorrow Resistance 3 273

Important Supports for CHEMCON

Support Levels Value in ₹
Tomorrow Support 1 256
Tomorrow Support 2 252
Tomorrow Support 3 247
Based on where the stock opens tomorrow, if CHEMCON opens on a positive note, our first target will be ₹264. If Target 1 is achieved, we will aim for Target 2 which is ₹269.

But if CHEMCON falls below the average value of ₹260.53, you can enter a sell side position with target number 1 - ₹256 and second target - ₹252 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 CHEMCON

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

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

Tomorrow's Volume based share price Forecast for CHEMCON

CHEMCON'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 64%.

Reversal detection for CHEMCON

Predicted trend chart of CHEMCON tomorrow for price forecast
CHEMCON may trend may continue to be bearish since stock is making lower low and we can get target of ₹260 in morning tomorrow
Target 1 tomorrow264
Target 2 tomorrow266
Target 3 tomorrow269
 

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 CHEMCON'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 CHEMCON opens on a positive note, our first target will be ₹264.42. If Target 1 is achieved, we will aim for Target 2 which is ₹269.33.

But if CHEMCON falls below the average value of ₹260.53, you can enter a sell side position with target number 1 - ₹255.62 and second target - ₹251.73

CHEMCON's Weekly Targets
1st Up Target 265.97
2nd Up Target 272.43
1st Down Target 252.52
2nd Down Target 245.53

As the week for CHEMCON ended on bearish sentiments, we can expect further continuation of this sentiment. CHEMCON's initial target will be 265.97 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 252.52 in the upcoming week.

Weekly OHLC Values
Open 260.00
High 265.45
Low 252.00
Close 259.50

Week for CHEMCON started with an open price of 260.00, and the close was at 259.50. CHEMCON reached the highest of 265.45 and dipped lowest up to 252.00 last week. This indicates a bearish sentiment for the week.

CHEMCON full month swing targets
Monthly Up Target 1 279.42
Monthly Up Target 2 285.88
Monthly Down Target 1 239.07
Monthly Down Target 2 218.63

Targets of ₹279.42 can be expected to be reached in the coming month. Once CHEMCON achieved this target, we can aim for the next upside target of ₹285.88.

CHEMCON if fails to hold upside, down targets of ₹239.07 and ₹218.63 can be achieved by end of this month.

For complete three weeks if CHEMCON 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

CHEMCON is expected to reach the target of 264.42 in tomorrow's trading session.

After achieving the initial target in CHEMCON, we will aim for higher targets of 269.33 tomorrow.

However, if CHEMCON starts to trade below ₹260.53, then we will shift our focus to the sell side and aim for down targets of 255.62 and 251.73.