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

Concord Biotech Limited

Symbol: NSE:CONCORDBIO

ISIN: N/A

1,629.60

As on 2024-04-24

900.05 (52W Low) 1,660.00 (52W High)

CONCORDBIO's Today's Performance

Concord Biotech Limited started the day by opening at 1,616.55 today 2024-04-24. Its shares reached a high of 1,648.60 and dipped to a low of 1,610.00 in intraday. When the markets closed, CONCORDBIO’s stock price settled at ₹1,629.60 per share. Also check out its key support and resistance levels.

CONCORDBIO Buy/Sell Targets

Tomorrow, buy CONCORDBIO when its price reaches ₹ 1,629.60 with a stop-loss order at ₹ 1,604.20. You can set the target price as ₹ 1,655.00 to capture potential gains. This buy 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 CONCORDBIO 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 CONCORDBIO

Downside Targets Value in ₹
Tomorrow Down Target 1 1,649
Tomorrow Down Target 2 1,668
Tomorrow Down Target 3 1,687

Important Levels for CONCORDBIO

Holding Levels Value in ₹
Tomorrow Up Target 1 1,610
Tomorrow Up Target 2 1,591
Tomorrow Up Target 3 1,572
Based on where the stock opens tomorrow, if CONCORDBIO opens on a positive note, our first target will be ₹1,649. If Target 1 is achieved, we will aim for Target 2 which is ₹1,668.

But if CONCORDBIO falls below the average value of ₹1,629.40, you can enter a sell side position with target number 1 - ₹1,610 and second target - ₹1,591 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 CONCORDBIO

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

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

Tomorrow's Volume based share price Forecast for CONCORDBIO

CONCORDBIO'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 1733%.

Reversal detection for CONCORDBIO

Predicted trend chart of CONCORDBIO tomorrow for price forecast
CONCORDBIO may trend may continue to be bullish since stock is making higher highs and we can get target of ₹1612 in morning tomorrow
Target 1 tomorrow1644
Target 2 tomorrow1653
Target 3 tomorrow1668
 

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 CONCORDBIO'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 CONCORDBIO opens on a positive note, our first target will be ₹1,648.80. If Target 1 is achieved, we will aim for Target 2 which is ₹1,668.00.

But if CONCORDBIO falls below the average value of ₹1,629.40, you can enter a sell side position with target number 1 - ₹1,610.20 and second target - ₹1,590.80

CONCORDBIO's Weekly Targets
1st Up Target 1,661.73
2nd Up Target 1,693.87
1st Down Target 1,584.33
2nd Down Target 1,539.07

As the week for CONCORDBIO ended on bullish sentiments, we can expect further continuation of this sentiment. CONCORDBIO's initial target will be 1,661.73 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 1,584.33 in the upcoming week.

Weekly OHLC Values
Open 1,607.35
High 1,648.60
Low 1,571.20
Close 1,629.60

Week for CONCORDBIO started with an open price of 1,607.35, and the close was at 1,629.60. CONCORDBIO reached the highest of 1,648.60 and dipped lowest up to 1,571.20 last week. This indicates a bullish sentiment for the week.

CONCORDBIO full month swing targets
Monthly Up Target 1 1,739.13
Monthly Up Target 2 1,771.27
Monthly Down Target 1 1,506.93
Monthly Down Target 2 1,384.27

Targets of ₹1,739.13 can be expected to be reached in the coming month. Once CONCORDBIO achieved this target, we can aim for the next upside target of ₹1,771.27.

CONCORDBIO if fails to hold upside, down targets of ₹1,506.93 and ₹1,384.27 can be achieved by end of this month.

For complete three weeks if CONCORDBIO 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 CONCORDBIO

Symbol Name Industry
SUNPHARMA Sun Pharmaceutical Industries Limited Drug Manufacturers - Specialty & Generic
CIPLA Cipla Limited Drug Manufacturers - General
DRREDDY Dr. Reddy's Laboratories Limited Drug Manufacturers - Specialty & Generic
ZYDUSLIFE Zydus Lifesciences Limited Drug Manufacturers - Specialty & Generic
APOLLOHOSP Apollo Hospitals Enterprise Limited Medical Care Facilities

Summary

CONCORDBIO is expected to reach the target of 1,648.80 in tomorrow's trading session.

After achieving the initial target in CONCORDBIO, we will aim for higher targets of 1,668.00 tomorrow.

However, if CONCORDBIO starts to trade below ₹1,629.40, then we will shift our focus to the sell side and aim for down targets of 1,610.20 and 1,590.80.