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

Electrosteel Castings Limited

Symbol: NSE:ELECTCAST

ISIN: INE086A01029

203.10

As on 2024-04-24

34.60 (52W Low) 208.00 (52W High)

ELECTCAST's Today's Performance

Electrosteel Castings Limited started the day by opening at 205.25 today 2024-04-24. Its shares reached a high of 207.20 and dipped to a low of 200.60 in intraday. When the markets closed, ELECTCAST’s stock price settled at ₹203.10 per share. Also check out its key support and resistance levels.

ELECTCAST Buy/Sell Targets

Tomorrow, sell ELECTCAST when its price reaches ₹ 203.10 with a stop-loss order at ₹ 206.45. You can set the target price as ₹ 199.75 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 ELECTCAST 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 ELECTCAST

Downside Targets Value in ₹
Tomorrow Down Target 1 207
Tomorrow Down Target 2 210
Tomorrow Down Target 3 213

Important Levels for ELECTCAST

Holding Levels Value in ₹
Tomorrow Up Target 1 200
Tomorrow Up Target 2 197
Tomorrow Up Target 3 193
Based on where the stock opens tomorrow, if ELECTCAST opens on a positive note, our first target will be ₹207. If Target 1 is achieved, we will aim for Target 2 which is ₹210.

But if ELECTCAST falls below the average value of ₹203.63, you can enter a sell side position with target number 1 - ₹200 and second target - ₹197 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 ELECTCAST

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

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

Tomorrow's Volume based share price Forecast for ELECTCAST

ELECTCAST'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 64%.

Reversal detection for ELECTCAST

Predicted trend chart of ELECTCAST tomorrow for price forecast
ELECTCAST may trend may continue to be bearish since stock is making lower low and we can get target of ₹204 in morning tomorrow
Target 1 tomorrow206
Target 2 tomorrow208
Target 3 tomorrow210
 

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 ELECTCAST'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 ELECTCAST opens on a positive note, our first target will be ₹206.67. If Target 1 is achieved, we will aim for Target 2 which is ₹210.23.

But if ELECTCAST falls below the average value of ₹203.63, you can enter a sell side position with target number 1 - ₹200.07 and second target - ₹197.03

ELECTCAST's Weekly Targets
1st Up Target 207.40
2nd Up Target 211.70
1st Down Target 199.40
2nd Down Target 195.70

As the week for ELECTCAST ended on bullish sentiments, we can expect further continuation of this sentiment. ELECTCAST's initial target will be 207.40 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 199.40 in the upcoming week.

Weekly OHLC Values
Open 201.05
High 208.00
Low 200.00
Close 203.10

Week for ELECTCAST started with an open price of 201.05, and the close was at 203.10. ELECTCAST reached the highest of 208.00 and dipped lowest up to 200.00 last week. This indicates a bullish sentiment for the week.

ELECTCAST full month swing targets
Monthly Up Target 1 215.40
Monthly Up Target 2 219.70
Monthly Down Target 1 191.40
Monthly Down Target 2 179.70

Targets of ₹215.40 can be expected to be reached in the coming month. Once ELECTCAST achieved this target, we can aim for the next upside target of ₹219.70.

ELECTCAST if fails to hold upside, down targets of ₹191.40 and ₹179.70 can be achieved by end of this month.

For complete three weeks if ELECTCAST 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

ELECTCAST is expected to reach the target of 206.67 in tomorrow's trading session.

After achieving the initial target in ELECTCAST, we will aim for higher targets of 210.23 tomorrow.

However, if ELECTCAST starts to trade below ₹203.63, then we will shift our focus to the sell side and aim for down targets of 200.07 and 197.03.