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

DCM Shriram Limited

Symbol: NSE:DCMSHRIRAM

ISIN: INE499A01024

911.20

As on 2024-04-19

772.05 (52W Low) 1,175.00 (52W High)

DCMSHRIRAM's Today's Performance

DCM Shriram Limited started the day by opening at 928.00 today 2024-04-19. Its shares reached a high of 928.00 and dipped to a low of 908.25 in intraday. When the markets closed, DCMSHRIRAM’s stock price settled at ₹911.20 per share. Also check out its key support and resistance levels.

DCMSHRIRAM Buy/Sell Targets

Tomorrow, sell DCMSHRIRAM when its price reaches ₹ 911.20 with a stop-loss order at ₹ 923.46. You can set the target price as ₹ 898.94 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 DCMSHRIRAM 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 DCMSHRIRAM

Downside Targets Value in ₹
Tomorrow Down Target 1 923
Tomorrow Down Target 2 936
Tomorrow Down Target 3 943

Important Levels for DCMSHRIRAM

Holding Levels Value in ₹
Tomorrow Up Target 1 904
Tomorrow Up Target 2 896
Tomorrow Up Target 3 884
Based on where the stock opens tomorrow, if DCMSHRIRAM opens on a positive note, our first target will be ₹923. If Target 1 is achieved, we will aim for Target 2 which is ₹936.

But if DCMSHRIRAM falls below the average value of ₹915.82, you can enter a sell side position with target number 1 - ₹904 and second target - ₹896 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 DCMSHRIRAM

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

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

Tomorrow's Volume based share price Forecast for DCMSHRIRAM

DCMSHRIRAM'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 -37%.

Reversal detection for DCMSHRIRAM

Predicted trend chart of DCMSHRIRAM tomorrow for price forecast
DCMSHRIRAM may trend may continue to be bearish since stock is making lower low and we can get target of ₹925 in morning tomorrow
Target 1 tomorrow923
Target 2 tomorrow928
Target 3 tomorrow936
 

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 DCMSHRIRAM'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 DCMSHRIRAM opens on a positive note, our first target will be ₹923.38. If Target 1 is achieved, we will aim for Target 2 which is ₹935.57.

But if DCMSHRIRAM falls below the average value of ₹915.82, you can enter a sell side position with target number 1 - ₹903.63 and second target - ₹896.07

DCMSHRIRAM's Weekly Targets
1st Up Target 931.42
2nd Up Target 951.63
1st Down Target 899.62
2nd Down Target 888.03

As the week for DCMSHRIRAM ended on bearish sentiments, we can expect further continuation of this sentiment. DCMSHRIRAM's initial target will be 931.42 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 899.62 in the upcoming week.

Weekly OHLC Values
Open 920.00
High 940.05
Low 908.25
Close 911.20

Week for DCMSHRIRAM started with an open price of 920.00, and the close was at 911.20. DCMSHRIRAM reached the highest of 940.05 and dipped lowest up to 908.25 last week. This indicates a bearish sentiment for the week.

DCMSHRIRAM full month swing targets
Monthly Up Target 1 963.22
Monthly Up Target 2 983.43
Monthly Down Target 1 867.82
Monthly Down Target 2 824.43

Targets of ₹963.22 can be expected to be reached in the coming month. Once DCMSHRIRAM achieved this target, we can aim for the next upside target of ₹983.43.

DCMSHRIRAM if fails to hold upside, down targets of ₹867.82 and ₹824.43 can be achieved by end of this month.

For complete three weeks if DCMSHRIRAM 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

DCMSHRIRAM is expected to reach the target of 923.38 in tomorrow's trading session.

After achieving the initial target in DCMSHRIRAM, we will aim for higher targets of 935.57 tomorrow.

However, if DCMSHRIRAM starts to trade below ₹915.82, then we will shift our focus to the sell side and aim for down targets of 903.63 and 896.07.