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

Godrej Industries Limited

Symbol: NSE:GODREJIND

ISIN: INE233A01035

798.05

As on 2024-05-17

458.00 (52W Low) 990.00 (52W High)

GODREJIND's Today's Performance

Godrej Industries Limited started the day by opening at 799.00 today 2024-05-17. Its shares reached a high of 811.80 and dipped to a low of 792.25 in intraday. When the markets closed, GODREJIND’s stock price settled at ₹798.05 per share. Also check out its key support and resistance levels.

GODREJIND Buy/Sell Targets

Tomorrow, buy GODREJIND when its price reaches ₹ 798.05 with a stop-loss order at ₹ 790.65. You can set the target price as ₹ 805.45 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 GODREJIND 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 GODREJIND

Downside Targets Value in ₹
Tomorrow Down Target 1 809
Tomorrow Down Target 2 820
Tomorrow Down Target 3 829

Important Levels for GODREJIND

Holding Levels Value in ₹
Tomorrow Up Target 1 790
Tomorrow Up Target 2 781
Tomorrow Up Target 3 770
Based on where the stock opens tomorrow, if GODREJIND opens on a positive note, our first target will be ₹809. If Target 1 is achieved, we will aim for Target 2 which is ₹820.

But if GODREJIND falls below the average value of ₹800.70, you can enter a sell side position with target number 1 - ₹790 and second target - ₹781 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 GODREJIND

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

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

Tomorrow's Volume based share price Forecast for GODREJIND

GODREJIND'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 533%.

Reversal detection for GODREJIND

Predicted trend chart of GODREJIND tomorrow for price forecast
GODREJIND may reverse its trend from upside (Short term bearish outlook) and we can get target of ₹798 in morning tomorrow
Target 1 tomorrow808
Target 2 tomorrow813
Target 3 tomorrow820
 

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 GODREJIND'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 GODREJIND opens on a positive note, our first target will be ₹809.15. If Target 1 is achieved, we will aim for Target 2 which is ₹820.25.

But if GODREJIND falls below the average value of ₹800.70, you can enter a sell side position with target number 1 - ₹789.60 and second target - ₹781.15

GODREJIND's Weekly Targets
1st Up Target 823.92
2nd Up Target 849.78
1st Down Target 782.22
2nd Down Target 766.38

As the week for GODREJIND ended on bearish sentiments, we can expect further continuation of this sentiment. GODREJIND's initial target will be 823.92 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 782.22 in the upcoming week.

Weekly OHLC Values
Open 826.05
High 833.95
Low 792.25
Close 798.05

Week for GODREJIND started with an open price of 826.05, and the close was at 798.05. GODREJIND reached the highest of 833.95 and dipped lowest up to 792.25 last week. This indicates a bearish sentiment for the week.

GODREJIND full month swing targets
Monthly Up Target 1 865.62
Monthly Up Target 2 891.48
Monthly Down Target 1 740.52
Monthly Down Target 2 682.98

Targets of ₹865.62 can be expected to be reached in the coming month. Once GODREJIND achieved this target, we can aim for the next upside target of ₹891.48.

GODREJIND if fails to hold upside, down targets of ₹740.52 and ₹682.98 can be achieved by end of this month.

For complete three weeks if GODREJIND 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.

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Summary

GODREJIND is expected to reach the target of 809.15 in tomorrow's trading session.

After achieving the initial target in GODREJIND, we will aim for higher targets of 820.25 tomorrow.

However, if GODREJIND starts to trade below ₹800.70, then we will shift our focus to the sell side and aim for down targets of 789.60 and 781.15.