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

DMCC SPECIALITY CHEMICALS LIMITED

Symbol: NSE:DMCC

ISIN: INE505A01010

340.05

As on 2024-04-16

240.10 (52W Low) 369.80 (52W High)

DMCC's Today's Performance

DMCC SPECIALITY CHEMICALS LIMITED started the day by opening at 322.90 today 2024-04-16. Its shares reached a high of 346.00 and dipped to a low of 322.00 in intraday. When the markets closed, DMCC’s stock price settled at ₹340.05 per share. Also check out its key support and resistance levels.

DMCC Buy/Sell Targets

Tomorrow, buy DMCC when its price reaches ₹ 340.05 with a stop-loss order at ₹ 331.60. You can set the target price as ₹ 348.50 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 DMCC 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 DMCC

Resistance Levels Value in ₹
Tomorrow Resistance 1 350
Tomorrow Resistance 2 360
Tomorrow Resistance 3 374

Important Supports for DMCC

Support Levels Value in ₹
Tomorrow Support 1 326
Tomorrow Support 2 312
Tomorrow Support 3 302
Based on where the stock opens tomorrow, if DMCC opens on a positive note, our first target will be ₹350. If Target 1 is achieved, we will aim for Target 2 which is ₹360.

But if DMCC falls below the average value of ₹336.02, you can enter a sell side position with target number 1 - ₹326 and second target - ₹312 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 DMCC

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

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

Tomorrow's Volume based share price Forecast for DMCC

DMCC'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 49%.

Reversal detection for DMCC

Predicted trend chart of DMCC tomorrow for price forecast
DMCC may reverse its trend from upside (Short term bearish outlook) and we can get target of ₹322 in morning tomorrow
Target 1 tomorrow345
Target 2 tomorrow351
Target 3 tomorrow360
 

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 DMCC'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 DMCC opens on a positive note, our first target will be ₹350.03. If Target 1 is achieved, we will aim for Target 2 which is ₹360.02.

But if DMCC falls below the average value of ₹336.02, you can enter a sell side position with target number 1 - ₹326.03 and second target - ₹312.02

DMCC's Weekly Targets
1st Up Target 351.52
2nd Up Target 362.98
1st Down Target 323.07
2nd Down Target 306.08

As the week for DMCC ended on bullish sentiments, we can expect further continuation of this sentiment. DMCC's initial target will be 351.52 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 323.07 in the upcoming week.

Weekly OHLC Values
Open 328.00
High 346.00
Low 317.55
Close 340.05

Week for DMCC started with an open price of 328.00, and the close was at 340.05. DMCC reached the highest of 346.00 and dipped lowest up to 317.55 last week. This indicates a bullish sentiment for the week.

DMCC full month swing targets
Monthly Up Target 1 379.97
Monthly Up Target 2 391.43
Monthly Down Target 1 294.62
Monthly Down Target 2 249.18

Targets of ₹379.97 can be expected to be reached in the coming month. Once DMCC achieved this target, we can aim for the next upside target of ₹391.43.

DMCC if fails to hold upside, down targets of ₹294.62 and ₹249.18 can be achieved by end of this month.

For complete three weeks if DMCC 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

DMCC is expected to reach the target of 350.03 in tomorrow's trading session.

After achieving the initial target in DMCC, we will aim for higher targets of 360.02 tomorrow.

However, if DMCC starts to trade below ₹336.02, then we will shift our focus to the sell side and aim for down targets of 326.03 and 312.02.