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

Dhanlaxmi Bank Limited

Symbol: NSE:DHANBANK

ISIN: INE680A01011

43.50

As on 2024-04-24

16.10 (52W Low) 59.00 (52W High)

DHANBANK's Today's Performance

Dhanlaxmi Bank Limited started the day by opening at 44.00 today 2024-04-24. Its shares reached a high of 44.20 and dipped to a low of 43.00 in intraday. When the markets closed, DHANBANK’s stock price settled at ₹43.50 per share. Also check out its key support and resistance levels.

DHANBANK Buy/Sell Targets

Tomorrow, sell DHANBANK when its price reaches ₹ 43.50 with a stop-loss order at ₹ 44.20. You can set the target price as ₹ 42.80 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 DHANBANK 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 DHANBANK

Downside Targets Value in ₹
Tomorrow Down Target 1 44
Tomorrow Down Target 2 45
Tomorrow Down Target 3 45

Important Levels for DHANBANK

Holding Levels Value in ₹
Tomorrow Up Target 1 43
Tomorrow Up Target 2 42
Tomorrow Up Target 3 42
Based on where the stock opens tomorrow, if DHANBANK opens on a positive note, our first target will be ₹44. If Target 1 is achieved, we will aim for Target 2 which is ₹45.

But if DHANBANK falls below the average value of ₹43.57, you can enter a sell side position with target number 1 - ₹43 and second target - ₹42 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 DHANBANK

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

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

Tomorrow's Volume based share price Forecast for DHANBANK

DHANBANK'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 88%.

Reversal detection for DHANBANK

Predicted trend chart of DHANBANK tomorrow for price forecast
DHANBANK may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹44 in morning tomorrow
Target 1 tomorrow44
Target 2 tomorrow44
Target 3 tomorrow45
 

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 DHANBANK'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 DHANBANK opens on a positive note, our first target will be ₹44.13. If Target 1 is achieved, we will aim for Target 2 which is ₹44.77.

But if DHANBANK falls below the average value of ₹43.57, you can enter a sell side position with target number 1 - ₹42.93 and second target - ₹42.37

DHANBANK's Weekly Targets
1st Up Target 44.93
2nd Up Target 46.37
1st Down Target 42.48
2nd Down Target 41.47

As the week for DHANBANK ended on bearish sentiments, we can expect further continuation of this sentiment. DHANBANK's initial target will be 44.93 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 42.48 in the upcoming week.

Weekly OHLC Values
Open 44.55
High 45.35
Low 42.90
Close 43.50

Week for DHANBANK started with an open price of 44.55, and the close was at 43.50. DHANBANK reached the highest of 45.35 and dipped lowest up to 42.90 last week. This indicates a bearish sentiment for the week.

DHANBANK full month swing targets
Monthly Up Target 1 47.38
Monthly Up Target 2 48.82
Monthly Down Target 1 40.03
Monthly Down Target 2 36.57

Targets of ₹47.38 can be expected to be reached in the coming month. Once DHANBANK achieved this target, we can aim for the next upside target of ₹48.82.

DHANBANK if fails to hold upside, down targets of ₹40.03 and ₹36.57 can be achieved by end of this month.

For complete three weeks if DHANBANK 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 DHANBANK

Symbol Name Industry
HDFCBANK HDFC Bank Limited Banks - Regional
ICICIBANK ICICI Bank Limited Banks - Regional
SBIN State Bank of India Banks - Regional
LICI Life Insurance Corporation Of India Insurance - Life
BAJFINANCE Bajaj Finance Limited Credit Services

Summary

DHANBANK is expected to reach the target of 44.13 in tomorrow's trading session.

After achieving the initial target in DHANBANK, we will aim for higher targets of 44.77 tomorrow.

However, if DHANBANK starts to trade below ₹43.57, then we will shift our focus to the sell side and aim for down targets of 42.93 and 42.37.