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

ESAF Small Finance Bank

Symbol: NSE:ESAFSFB

ISIN: N/A

59.95

As on 2024-04-16

53.30 (52W Low) 82.40 (52W High)

ESAFSFB's Today's Performance

ESAF Small Finance Bank started the day by opening at 59.90 today 2024-04-16. Its shares reached a high of 60.60 and dipped to a low of 59.75 in intraday. When the markets closed, ESAFSFB’s stock price settled at ₹59.95 per share. Also check out its key support and resistance levels.

ESAFSFB Buy/Sell Targets

Tomorrow, sell ESAFSFB when its price reaches ₹ 59.95 with a stop-loss order at ₹ 60.73. You can set the target price as ₹ 59.17 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 ESAFSFB 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 ESAFSFB

Resistance Levels Value in ₹
Tomorrow Resistance 1 60
Tomorrow Resistance 2 61
Tomorrow Resistance 3 61

Important Supports for ESAFSFB

Support Levels Value in ₹
Tomorrow Support 1 60
Tomorrow Support 2 59
Tomorrow Support 3 59
Based on where the stock opens tomorrow, if ESAFSFB opens on a positive note, our first target will be ₹60. If Target 1 is achieved, we will aim for Target 2 which is ₹61.

But if ESAFSFB falls below the average value of ₹60.10, you can enter a sell side position with target number 1 - ₹60 and second target - ₹59 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 ESAFSFB

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

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

Tomorrow's Volume based share price Forecast for ESAFSFB

ESAFSFB'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 332%.

Reversal detection for ESAFSFB

Predicted trend chart of ESAFSFB tomorrow for price forecast
ESAFSFB may trend may continue to be bearish since stock is making lower low and we can get target of ₹60 in morning tomorrow
Target 1 tomorrow60
Target 2 tomorrow61
Target 3 tomorrow61
 

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 ESAFSFB'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 ESAFSFB opens on a positive note, our first target will be ₹60.45. If Target 1 is achieved, we will aim for Target 2 which is ₹60.95.

But if ESAFSFB falls below the average value of ₹60.10, you can enter a sell side position with target number 1 - ₹59.60 and second target - ₹59.25

ESAFSFB's Weekly Targets
1st Up Target 61.15
2nd Up Target 62.35
1st Down Target 58.55
2nd Down Target 57.15

As the week for ESAFSFB ended on bullish sentiments, we can expect further continuation of this sentiment. ESAFSFB's initial target will be 61.15 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 58.55 in the upcoming week.

Weekly OHLC Values
Open 58.35
High 60.95
Low 58.35
Close 59.95

Week for ESAFSFB started with an open price of 58.35, and the close was at 59.95. ESAFSFB reached the highest of 60.95 and dipped lowest up to 58.35 last week. This indicates a bullish sentiment for the week.

ESAFSFB full month swing targets
Monthly Up Target 1 63.75
Monthly Up Target 2 64.95
Monthly Down Target 1 55.95
Monthly Down Target 2 51.95

Targets of ₹63.75 can be expected to be reached in the coming month. Once ESAFSFB achieved this target, we can aim for the next upside target of ₹64.95.

ESAFSFB if fails to hold upside, down targets of ₹55.95 and ₹51.95 can be achieved by end of this month.

For complete three weeks if ESAFSFB 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 ESAFSFB

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

ESAFSFB is expected to reach the target of 60.45 in tomorrow's trading session.

After achieving the initial target in ESAFSFB, we will aim for higher targets of 60.95 tomorrow.

However, if ESAFSFB starts to trade below ₹60.10, then we will shift our focus to the sell side and aim for down targets of 59.60 and 59.25.