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

CREDITACCESS GRAMEEN LIMITED

Symbol: NSE:CREDITACC

ISIN: INE741K01010

1,411.20

As on 2024-05-17

1,120.00 (52W Low) 1,796.00 (52W High)

CREDITACC's Today's Performance

CREDITACCESS GRAMEEN LIMITED started the day by opening at 1,423.95 today 2024-05-17. Its shares reached a high of 1,423.95 and dipped to a low of 1,404.05 in intraday. When the markets closed, CREDITACC’s stock price settled at ₹1,411.20 per share. Also check out its key support and resistance levels.

CREDITACC Buy/Sell Targets

Tomorrow, sell CREDITACC when its price reaches ₹ 1,411.20 with a stop-loss order at ₹ 1,426.50. You can set the target price as ₹ 1,395.90 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 CREDITACC 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 CREDITACC

Downside Targets Value in ₹
Tomorrow Down Target 1 1,422
Tomorrow Down Target 2 1,433
Tomorrow Down Target 3 1,442

Important Levels for CREDITACC

Holding Levels Value in ₹
Tomorrow Up Target 1 1,402
Tomorrow Up Target 2 1,393
Tomorrow Up Target 3 1,382
Based on where the stock opens tomorrow, if CREDITACC opens on a positive note, our first target will be ₹1,422. If Target 1 is achieved, we will aim for Target 2 which is ₹1,433.

But if CREDITACC falls below the average value of ₹1,413.07, you can enter a sell side position with target number 1 - ₹1,402 and second target - ₹1,393 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 CREDITACC

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

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

Tomorrow's Volume based share price Forecast for CREDITACC

CREDITACC'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 -11%.

Reversal detection for CREDITACC

Predicted trend chart of CREDITACC tomorrow for price forecast
CREDITACC may trend may continue to be bearish since stock is making lower low and we can get target of ₹1417 in morning tomorrow
Target 1 tomorrow1421
Target 2 tomorrow1425
Target 3 tomorrow1433
 

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 CREDITACC'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 CREDITACC opens on a positive note, our first target will be ₹1,422.08. If Target 1 is achieved, we will aim for Target 2 which is ₹1,432.97.

But if CREDITACC falls below the average value of ₹1,413.07, you can enter a sell side position with target number 1 - ₹1,402.18 and second target - ₹1,393.17

CREDITACC's Weekly Targets
1st Up Target 1,443.60
2nd Up Target 1,476.00
1st Down Target 1,373.60
2nd Down Target 1,336.00

As the week for CREDITACC ended on bearish sentiments, we can expect further continuation of this sentiment. CREDITACC's initial target will be 1,443.60 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 1,373.60 in the upcoming week.

Weekly OHLC Values
Open 1,417.95
High 1,438.40
Low 1,368.40
Close 1,411.20

Week for CREDITACC started with an open price of 1,417.95, and the close was at 1,411.20. CREDITACC reached the highest of 1,438.40 and dipped lowest up to 1,368.40 last week. This indicates a bearish sentiment for the week.

CREDITACC full month swing targets
Monthly Up Target 1 1,513.60
Monthly Up Target 2 1,546.00
Monthly Down Target 1 1,303.60
Monthly Down Target 2 1,196.00

Targets of ₹1,513.60 can be expected to be reached in the coming month. Once CREDITACC achieved this target, we can aim for the next upside target of ₹1,546.00.

CREDITACC if fails to hold upside, down targets of ₹1,303.60 and ₹1,196.00 can be achieved by end of this month.

For complete three weeks if CREDITACC 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 CREDITACC

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LICI Life Insurance Corporation Of India Insurance - Life
BAJFINANCE Bajaj Finance Limited Credit Services

Summary

CREDITACC is expected to reach the target of 1,422.08 in tomorrow's trading session.

After achieving the initial target in CREDITACC, we will aim for higher targets of 1,432.97 tomorrow.

However, if CREDITACC starts to trade below ₹1,413.07, then we will shift our focus to the sell side and aim for down targets of 1,402.18 and 1,393.17.