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

Gujarat Mineral Development Corporation Limited

Symbol: NSE:GMDCLTD

ISIN: INE131A01031

411.10

As on 2024-07-24

167.00 (52W Low) 506.00 (52W High)

GMDCLTD's Today's Performance

Gujarat Mineral Development Corporation Limited started the day by opening at 397.00 today 2024-07-24. Its shares reached a high of 424.45 and dipped to a low of 394.30 in intraday. When the markets closed, GMDCLTD’s stock price settled at ₹411.10 per share. Also check out its key support and resistance levels.

GMDCLTD Buy/Sell Targets

Tomorrow, buy GMDCLTD when its price reaches ₹ 411.10 with a stop-loss order at ₹ 398.85. You can set the target price as ₹ 423.35 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 GMDCLTD 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 GMDCLTD

Downside Targets Value in ₹
Tomorrow Down Target 1 426
Tomorrow Down Target 2 440
Tomorrow Down Target 3 456

Important Levels for GMDCLTD

Holding Levels Value in ₹
Tomorrow Up Target 1 395
Tomorrow Up Target 2 380
Tomorrow Up Target 3 365
Based on where the stock opens tomorrow, if GMDCLTD opens on a positive note, our first target will be ₹426. If Target 1 is achieved, we will aim for Target 2 which is ₹440.

But if GMDCLTD falls below the average value of ₹409.95, you can enter a sell side position with target number 1 - ₹395 and second target - ₹380 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 GMDCLTD

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

Based on this, the predicted sentiment for GMDCLTD is strong bearish.

Tomorrow's Volume based share price Forecast for GMDCLTD

GMDCLTD'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 40%.

Reversal detection for GMDCLTD

Predicted trend chart of GMDCLTD tomorrow for price forecast
GMDCLTD may trend may continue to be bullish since stock is making higher highs and we can get target of ₹396 in morning tomorrow
Target 1 tomorrow421
Target 2 tomorrow429
Target 3 tomorrow440
 

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 GMDCLTD'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 GMDCLTD opens on a positive note, our first target will be ₹425.60. If Target 1 is achieved, we will aim for Target 2 which is ₹440.10.

But if GMDCLTD falls below the average value of ₹409.95, you can enter a sell side position with target number 1 - ₹395.45 and second target - ₹379.80

GMDCLTD's Weekly Targets
1st Up Target 430.33
2nd Up Target 449.57
1st Down Target 385.98
2nd Down Target 360.87

As the week for GMDCLTD ended on bullish sentiments, we can expect further continuation of this sentiment. GMDCLTD's initial target will be 430.33 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 385.98 in the upcoming week.

Weekly OHLC Values
Open 395.00
High 424.45
Low 380.10
Close 411.10

Week for GMDCLTD started with an open price of 395.00, and the close was at 411.10. GMDCLTD reached the highest of 424.45 and dipped lowest up to 380.10 last week. This indicates a bullish sentiment for the week.

GMDCLTD full month swing targets
Monthly Up Target 1 474.68
Monthly Up Target 2 493.92
Monthly Down Target 1 341.63
Monthly Down Target 2 272.17

Targets of ₹474.68 can be expected to be reached in the coming month. Once GMDCLTD achieved this target, we can aim for the next upside target of ₹493.92.

GMDCLTD if fails to hold upside, down targets of ₹341.63 and ₹272.17 can be achieved by end of this month.

For complete three weeks if GMDCLTD 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 GMDCLTD

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RELIANCE Reliance Industries Limited Oil & Gas Refining & Marketing
ADANIENT Adani Enterprises Limited Thermal Coal
ONGC Oil & Natural Gas Corporation Limited Oil & Gas Integrated
COALINDIA Coal India Limited Thermal Coal
IOC Indian Oil Corporation Limited Oil & Gas Refining & Marketing

Summary

GMDCLTD is expected to reach the target of 425.60 in tomorrow's trading session.

After achieving the initial target in GMDCLTD, we will aim for higher targets of 440.10 tomorrow.

However, if GMDCLTD starts to trade below ₹409.95, then we will shift our focus to the sell side and aim for down targets of 395.45 and 379.80.