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

GlaxoSmithKline Pharmaceuticals Limited

Symbol: NSE:GLAXO

ISIN: INE159A01016

2,077.25

As on 2024-04-24

1,227.00 (52W Low) 2,524.00 (52W High)

GLAXO's Today's Performance

GlaxoSmithKline Pharmaceuticals Limited started the day by opening at 1,956.50 today 2024-04-24. Its shares reached a high of 2,087.00 and dipped to a low of 1,954.25 in intraday. When the markets closed, GLAXO’s stock price settled at ₹2,077.25 per share. Also check out its key support and resistance levels.

GLAXO Buy/Sell Targets

Tomorrow, buy GLAXO when its price reaches ₹ 2,077.25 with a stop-loss order at ₹ 2,032.81. You can set the target price as ₹ 2,121.69 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 GLAXO 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 GLAXO

Downside Targets Value in ₹
Tomorrow Down Target 1 2,125
Tomorrow Down Target 2 2,172
Tomorrow Down Target 3 2,258

Important Levels for GLAXO

Holding Levels Value in ₹
Tomorrow Up Target 1 1,992
Tomorrow Up Target 2 1,907
Tomorrow Up Target 3 1,859
Based on where the stock opens tomorrow, if GLAXO opens on a positive note, our first target will be ₹2,125. If Target 1 is achieved, we will aim for Target 2 which is ₹2,172.

But if GLAXO falls below the average value of ₹2,039.50, you can enter a sell side position with target number 1 - ₹1,992 and second target - ₹1,907 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 GLAXO

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

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

Tomorrow's Volume based share price Forecast for GLAXO

GLAXO's Volume is currently in a Increasing 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 -52%.

Reversal detection for GLAXO

Predicted trend chart of GLAXO tomorrow for price forecast
GLAXO may reverse its trend from upside (Short term bearish outlook) and we can get target of ₹1947 in morning tomorrow
Target 1 tomorrow2090
Target 2 tomorrow2122
Target 3 tomorrow2172
 

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 GLAXO'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 GLAXO opens on a positive note, our first target will be ₹2,124.75. If Target 1 is achieved, we will aim for Target 2 which is ₹2,172.25.

But if GLAXO falls below the average value of ₹2,039.50, you can enter a sell side position with target number 1 - ₹1,992.00 and second target - ₹1,906.75

GLAXO's Weekly Targets
1st Up Target 2,152.17
2nd Up Target 2,227.08
1st Down Target 1,937.17
2nd Down Target 1,797.08

As the week for GLAXO ended on bullish sentiments, we can expect further continuation of this sentiment. GLAXO's initial target will be 2,152.17 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 1,937.17 in the upcoming week.

Weekly OHLC Values
Open 1,872.00
High 2,087.00
Low 1,872.00
Close 2,077.25

Week for GLAXO started with an open price of 1,872.00, and the close was at 2,077.25. GLAXO reached the highest of 2,087.00 and dipped lowest up to 1,872.00 last week. This indicates a bullish sentiment for the week.

GLAXO full month swing targets
Monthly Up Target 1 2,367.17
Monthly Up Target 2 2,442.08
Monthly Down Target 1 1,722.17
Monthly Down Target 2 1,367.08

Targets of ₹2,367.17 can be expected to be reached in the coming month. Once GLAXO achieved this target, we can aim for the next upside target of ₹2,442.08.

GLAXO if fails to hold upside, down targets of ₹1,722.17 and ₹1,367.08 can be achieved by end of this month.

For complete three weeks if GLAXO 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 GLAXO

Symbol Name Industry
SUNPHARMA Sun Pharmaceutical Industries Limited Drug Manufacturers - Specialty & Generic
CIPLA Cipla Limited Drug Manufacturers - General
DRREDDY Dr. Reddy's Laboratories Limited Drug Manufacturers - Specialty & Generic
ZYDUSLIFE Zydus Lifesciences Limited Drug Manufacturers - Specialty & Generic
APOLLOHOSP Apollo Hospitals Enterprise Limited Medical Care Facilities

Summary

GLAXO is expected to reach the target of 2,124.75 in tomorrow's trading session.

After achieving the initial target in GLAXO, we will aim for higher targets of 2,172.25 tomorrow.

However, if GLAXO starts to trade below ₹2,039.50, then we will shift our focus to the sell side and aim for down targets of 1,992.00 and 1,906.75.