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

Graphite India Limited

Symbol: NSE:GRAPHITE

ISIN: INE371A01025

644.55

As on 2024-04-16

267.20 (52W Low) 694.75 (52W High)

GRAPHITE's Today's Performance

Graphite India Limited started the day by opening at 636.60 today 2024-04-16. Its shares reached a high of 661.75 and dipped to a low of 634.10 in intraday. When the markets closed, GRAPHITE’s stock price settled at ₹644.55 per share. Also check out its key support and resistance levels.

GRAPHITE Buy/Sell Targets

Tomorrow, sell GRAPHITE when its price reaches ₹ 644.55 with a stop-loss order at ₹ 662.25. You can set the target price as ₹ 626.85 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 GRAPHITE 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 GRAPHITE

Resistance Levels Value in ₹
Tomorrow Resistance 1 660
Tomorrow Resistance 2 674
Tomorrow Resistance 3 687

Important Supports for GRAPHITE

Support Levels Value in ₹
Tomorrow Support 1 632
Tomorrow Support 2 619
Tomorrow Support 3 604
Based on where the stock opens tomorrow, if GRAPHITE opens on a positive note, our first target will be ₹660. If Target 1 is achieved, we will aim for Target 2 which is ₹674.

But if GRAPHITE falls below the average value of ₹646.80, you can enter a sell side position with target number 1 - ₹632 and second target - ₹619 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 GRAPHITE

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

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

Tomorrow's Volume based share price Forecast for GRAPHITE

GRAPHITE'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 17%.

Reversal detection for GRAPHITE

Predicted trend chart of GRAPHITE tomorrow for price forecast
GRAPHITE may trend may continue to be bearish since stock is making lower low and we can get target of ₹646 in morning tomorrow
Target 1 tomorrow657
Target 2 tomorrow664
Target 3 tomorrow674
 

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 GRAPHITE'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 GRAPHITE opens on a positive note, our first target will be ₹659.50. If Target 1 is achieved, we will aim for Target 2 which is ₹674.45.

But if GRAPHITE falls below the average value of ₹646.80, you can enter a sell side position with target number 1 - ₹631.85 and second target - ₹619.15

GRAPHITE's Weekly Targets
1st Up Target 664.57
2nd Up Target 684.58
1st Down Target 624.77
2nd Down Target 604.98

As the week for GRAPHITE ended on bearish sentiments, we can expect further continuation of this sentiment. GRAPHITE's initial target will be 664.57 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 624.77 in the upcoming week.

Weekly OHLC Values
Open 648.60
High 664.80
Low 625.00
Close 644.55

Week for GRAPHITE started with an open price of 648.60, and the close was at 644.55. GRAPHITE reached the highest of 664.80 and dipped lowest up to 625.00 last week. This indicates a bearish sentiment for the week.

GRAPHITE full month swing targets
Monthly Up Target 1 704.37
Monthly Up Target 2 724.38
Monthly Down Target 1 584.97
Monthly Down Target 2 525.38

Targets of ₹704.37 can be expected to be reached in the coming month. Once GRAPHITE achieved this target, we can aim for the next upside target of ₹724.38.

GRAPHITE if fails to hold upside, down targets of ₹584.97 and ₹525.38 can be achieved by end of this month.

For complete three weeks if GRAPHITE 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

GRAPHITE is expected to reach the target of 659.50 in tomorrow's trading session.

After achieving the initial target in GRAPHITE, we will aim for higher targets of 674.45 tomorrow.

However, if GRAPHITE starts to trade below ₹646.80, then we will shift our focus to the sell side and aim for down targets of 631.85 and 619.15.