Price and trend forecast of ELGIRUBCO for Tomorrow, Weekly, Monthly
Elgi Rubber Company Limited
Symbol: NSE:ELGIRUBCO
ISIN: INE819L01012
131.40
As on 2024-11-06
ELGIRUBCO's Today's Performance
Elgi Rubber Company Limited started the day by opening at 135.99 today 2024-11-06. Its shares reached a high of 139.95 and dipped to a low of 127.60 in intraday. When the markets closed, ELGIRUBCO’s stock price settled at ₹131.40 per share. Also check out its key support and resistance levels.
ELGIRUBCO Buy/Sell Targets
Tomorrow, buy ELGIRUBCO when its price reaches ₹ 131.40 with a stop-loss order at ₹ 123.20. You can set the target price as ₹ 139.60 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 ELGIRUBCO 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 ELGIRUBCO
| Downside Targets | Value in ₹ |
|---|---|
| Tomorrow Down Target 1 | 138 |
| Tomorrow Down Target 2 | 145 |
| Tomorrow Down Target 3 | 151 |
Important Levels for ELGIRUBCO
| Holding Levels | Value in ₹ |
|---|---|
| Tomorrow Up Target 1 | 126 |
| Tomorrow Up Target 2 | 121 |
| Tomorrow Up Target 3 | 114 |
Based on where the stock opens tomorrow, if ELGIRUBCO opens on a positive note, our first target will be ₹138. If Target 1 is achieved, we will aim for Target 2 which is ₹145.
But if ELGIRUBCO falls below the average value of ₹132.98, you can enter a sell side position with target number 1 - ₹126 and second target - ₹121 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 ELGIRUBCO
Looking at ELGIRUBCO, 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, ELGIRUBCO has been on a Upward path, giving us insights how its value changes in the market.
Based on this, the predicted sentiment for ELGIRUBCO is strong bullish.
Tomorrow's Volume based share price Forecast for ELGIRUBCO
ELGIRUBCO'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 610%.
Reversal detection for ELGIRUBCO
ELGIRUBCO may trend may continue to be bullish since stock is making higher highs and we can get target of ₹118 in morning tomorrow
| Target 1 tomorrow | 138 |
| Target 2 tomorrow | 141 |
| Target 3 tomorrow | 145 |
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 ELGIRUBCO'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 ELGIRUBCO opens on a positive note, our first target will be ₹138.37. If Target 1 is achieved, we will aim for Target 2 which is ₹145.33.
But if ELGIRUBCO falls below the average value of ₹132.98, you can enter a sell side position with target number 1 - ₹126.02 and second target - ₹120.63
ELGIRUBCO's Weekly Targets
| 1st Up Target | 146.11 |
| 2nd Up Target | 160.81 |
| 1st Down Target | 110.54 |
| 2nd Down Target | 89.67 |
As the week for ELGIRUBCO ended on bullish sentiments, we can expect further continuation of this sentiment. ELGIRUBCO's initial target will be 146.11 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 110.54 in the upcoming week.
Weekly OHLC Values
| Open | 105.70 |
| High | 139.95 |
| Low | 104.38 |
| Close | 131.40 |
Week for ELGIRUBCO started with an open price of 105.70, and the close was at 131.40. ELGIRUBCO reached the highest of 139.95 and dipped lowest up to 104.38 last week. This indicates a bullish sentiment for the week.
ELGIRUBCO full month swing targets
| Monthly Up Target 1 | 181.68 |
| Monthly Up Target 2 | 196.38 |
| Monthly Down Target 1 | 74.97 |
| Monthly Down Target 2 | 18.53 |
Targets of ₹181.68 can be expected to be reached in the coming month. Once ELGIRUBCO achieved this target, we can aim for the next upside target of ₹196.38.
ELGIRUBCO if fails to hold upside, down targets of ₹74.97 and ₹18.53 can be achieved by end of this month.
For complete three weeks if ELGIRUBCO 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 ELGIRUBCO
| Symbol | Name | Industry |
|---|---|---|
| MARUTI | Maruti Suzuki India Limited | Auto Manufacturers |
| TATAMTRDVR | Tata Motors Limited | Auto Manufacturers |
| TATAMOTORS | Tata Motors Limited | Auto Manufacturers |
| TITAN | Titan Company Limited | Luxury Goods |
| BAJAJ-AUTO | Bajaj Auto Limited | Auto Manufacturers |
Summary
ELGIRUBCO is expected to reach the target of 138.37 in tomorrow's trading session.
After achieving the initial target in ELGIRUBCO, we will aim for higher targets of 145.33 tomorrow.
However, if ELGIRUBCO starts to trade below ₹132.98, then we will shift our focus to the sell side and aim for down targets of 126.02 and 120.63.