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

Greenlam Industries Limited

Symbol: NSE:GREENLAM

ISIN: INE544R01021

560.60

As on 2024-04-16

283.50 (52W Low) 625.55 (52W High)

GREENLAM's Today's Performance

Greenlam Industries Limited started the day by opening at 544.90 today 2024-04-16. Its shares reached a high of 566.70 and dipped to a low of 544.90 in intraday. When the markets closed, GREENLAM’s stock price settled at ₹560.60 per share. Also check out its key support and resistance levels.

GREENLAM Buy/Sell Targets

Tomorrow, buy GREENLAM when its price reaches ₹ 560.60 with a stop-loss order at ₹ 549.93. You can set the target price as ₹ 571.27 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 GREENLAM 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 GREENLAM

Resistance Levels Value in ₹
Tomorrow Resistance 1 570
Tomorrow Resistance 2 579
Tomorrow Resistance 3 592

Important Supports for GREENLAM

Support Levels Value in ₹
Tomorrow Support 1 548
Tomorrow Support 2 536
Tomorrow Support 3 526
Based on where the stock opens tomorrow, if GREENLAM opens on a positive note, our first target will be ₹570. If Target 1 is achieved, we will aim for Target 2 which is ₹579.

But if GREENLAM falls below the average value of ₹557.40, you can enter a sell side position with target number 1 - ₹548 and second target - ₹536 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 GREENLAM

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

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

Tomorrow's Volume based share price Forecast for GREENLAM

GREENLAM'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 410%.

Reversal detection for GREENLAM

Predicted trend chart of GREENLAM tomorrow for price forecast
GREENLAM may reverse its trend from upside (Short term bearish outlook) and we can get target of ₹546 in morning tomorrow
Target 1 tomorrow566
Target 2 tomorrow571
Target 3 tomorrow579
 

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 GREENLAM'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 GREENLAM opens on a positive note, our first target will be ₹569.90. If Target 1 is achieved, we will aim for Target 2 which is ₹579.20.

But if GREENLAM falls below the average value of ₹557.40, you can enter a sell side position with target number 1 - ₹548.10 and second target - ₹535.60

GREENLAM's Weekly Targets
1st Up Target 572.80
2nd Up Target 585.00
1st Down Target 542.30
2nd Down Target 524.00

As the week for GREENLAM ended on bullish sentiments, we can expect further continuation of this sentiment. GREENLAM's initial target will be 572.80 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 542.30 in the upcoming week.

Weekly OHLC Values
Open 548.20
High 566.70
Low 536.20
Close 560.60

Week for GREENLAM started with an open price of 548.20, and the close was at 560.60. GREENLAM reached the highest of 566.70 and dipped lowest up to 536.20 last week. This indicates a bullish sentiment for the week.

GREENLAM full month swing targets
Monthly Up Target 1 603.30
Monthly Up Target 2 615.50
Monthly Down Target 1 511.80
Monthly Down Target 2 463.00

Targets of ₹603.30 can be expected to be reached in the coming month. Once GREENLAM achieved this target, we can aim for the next upside target of ₹615.50.

GREENLAM if fails to hold upside, down targets of ₹511.80 and ₹463.00 can be achieved by end of this month.

For complete three weeks if GREENLAM 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

GREENLAM is expected to reach the target of 569.90 in tomorrow's trading session.

After achieving the initial target in GREENLAM, we will aim for higher targets of 579.20 tomorrow.

However, if GREENLAM starts to trade below ₹557.40, then we will shift our focus to the sell side and aim for down targets of 548.10 and 535.60.