Price and trend forecast of ELIN for Tomorrow, Weekly, Monthly
Elin Electronics Limited
Symbol: NSE:ELIN
ISIN: INE050401020
213.33
As on 2024-12-20
ELIN's Today's Performance
Elin Electronics Limited started the day by opening at 223.37 today 2024-12-20. Its shares reached a high of 224.79 and dipped to a low of 212.39 in intraday. When the markets closed, ELIN’s stock price settled at ₹213.33 per share. Also check out its key support and resistance levels.
ELIN Buy/Sell Targets
Tomorrow, sell ELIN when its price reaches ₹ 213.33 with a stop-loss order at ₹ 219.47. You can set the target price as ₹ 207.20 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 ELIN 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 ELIN
| Downside Targets | Value in ₹ |
|---|---|
| Tomorrow Down Target 1 | 221 |
| Tomorrow Down Target 2 | 229 |
| Tomorrow Down Target 3 | 234 |
Important Levels for ELIN
| Holding Levels | Value in ₹ |
|---|---|
| Tomorrow Up Target 1 | 209 |
| Tomorrow Up Target 2 | 204 |
| Tomorrow Up Target 3 | 196 |
Based on where the stock opens tomorrow, if ELIN opens on a positive note, our first target will be ₹221. If Target 1 is achieved, we will aim for Target 2 which is ₹229.
But if ELIN falls below the average value of ₹216.84, you can enter a sell side position with target number 1 - ₹209 and second target - ₹204 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 ELIN
Looking at ELIN, 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, ELIN has been on a Downward path, giving us insights how its value changes in the market.
Based on this, the predicted sentiment for ELIN is strong bearish.
Tomorrow's Volume based share price Forecast for ELIN
ELIN's Volume is currently in a Increasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a strong bearish trend. Volume trend strength over the last month compared to the last week is 229%.
Reversal detection for ELIN
ELIN may trend may continue to be bearish since stock is making lower low and we can get target of ₹220 in morning tomorrow
| Target 1 tomorrow | 222 |
| Target 2 tomorrow | 224 |
| Target 3 tomorrow | 229 |
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 ELIN'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 ELIN opens on a positive note, our first target will be ₹221.28. If Target 1 is achieved, we will aim for Target 2 which is ₹229.24.
But if ELIN falls below the average value of ₹216.84, you can enter a sell side position with target number 1 - ₹208.88 and second target - ₹204.44
ELIN's Weekly Targets
| 1st Up Target | 224.33 |
| 2nd Up Target | 235.32 |
| 1st Down Target | 206.67 |
| 2nd Down Target | 200.00 |
As the week for ELIN ended on bearish sentiments, we can expect further continuation of this sentiment. ELIN's initial target will be 224.33 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 206.67 in the upcoming week.
Weekly OHLC Values
| Open | 221.40 |
| High | 228.66 |
| Low | 211.00 |
| Close | 213.33 |
Week for ELIN started with an open price of 221.40, and the close was at 213.33. ELIN reached the highest of 228.66 and dipped lowest up to 211.00 last week. This indicates a bearish sentiment for the week.
ELIN full month swing targets
| Monthly Up Target 1 | 241.99 |
| Monthly Up Target 2 | 252.98 |
| Monthly Down Target 1 | 189.01 |
| Monthly Down Target 2 | 164.68 |
Targets of ₹241.99 can be expected to be reached in the coming month. Once ELIN achieved this target, we can aim for the next upside target of ₹252.98.
ELIN if fails to hold upside, down targets of ₹189.01 and ₹164.68 can be achieved by end of this month.
For complete three weeks if ELIN 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 ELIN
| Symbol | Name | Industry |
|---|---|---|
| LT | Larsen & Toubro Limited | Engineering & Construction |
| ADANIPORTS | Adani Ports and Special Economic Zone Limited | Marine Shipping |
| HAL | Hindustan Aeronautics Limited | Aerospace & Defense |
| SIEMENS | Siemens Limited | Specialty Industrial Machinery |
| BEL | Bharat Electronics Limited | Aerospace & Defense |
Summary
ELIN is expected to reach the target of 221.28 in tomorrow's trading session.
After achieving the initial target in ELIN, we will aim for higher targets of 229.24 tomorrow.
However, if ELIN starts to trade below ₹216.84, then we will shift our focus to the sell side and aim for down targets of 208.88 and 204.44.