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

GRM Overseas Limited

Symbol: NSE:GRMOVER

ISIN: INE192H01020

135.30

As on 2024-04-16

113.00 (52W Low) 230.40 (52W High)

GRMOVER's Today's Performance

GRM Overseas Limited started the day by opening at 133.40 today 2024-04-16. Its shares reached a high of 139.55 and dipped to a low of 130.85 in intraday. When the markets closed, GRMOVER’s stock price settled at ₹135.30 per share. Also check out its key support and resistance levels.

GRMOVER Buy/Sell Targets

Tomorrow, buy GRMOVER when its price reaches ₹ 135.30 with a stop-loss order at ₹ 131.28. You can set the target price as ₹ 139.32 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 GRMOVER 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 GRMOVER

Resistance Levels Value in ₹
Tomorrow Resistance 1 140
Tomorrow Resistance 2 144
Tomorrow Resistance 3 148

Important Supports for GRMOVER

Support Levels Value in ₹
Tomorrow Support 1 131
Tomorrow Support 2 127
Tomorrow Support 3 122
Based on where the stock opens tomorrow, if GRMOVER opens on a positive note, our first target will be ₹140. If Target 1 is achieved, we will aim for Target 2 which is ₹144.

But if GRMOVER falls below the average value of ₹135.23, you can enter a sell side position with target number 1 - ₹131 and second target - ₹127 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 GRMOVER

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

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

Tomorrow's Volume based share price Forecast for GRMOVER

GRMOVER'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 96%.

Reversal detection for GRMOVER

Predicted trend chart of GRMOVER tomorrow for price forecast
GRMOVER may trend may continue to be bullish since stock is making higher highs and we can get target of ₹133 in morning tomorrow
Target 1 tomorrow139
Target 2 tomorrow141
Target 3 tomorrow144
 

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 GRMOVER'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 GRMOVER opens on a positive note, our first target will be ₹139.62. If Target 1 is achieved, we will aim for Target 2 which is ₹143.93.

But if GRMOVER falls below the average value of ₹135.23, you can enter a sell side position with target number 1 - ₹130.92 and second target - ₹126.53

GRMOVER's Weekly Targets
1st Up Target 140.48
2nd Up Target 145.67
1st Down Target 129.18
2nd Down Target 123.07

As the week for GRMOVER ended on bearish sentiments, we can expect further continuation of this sentiment. GRMOVER's initial target will be 140.48 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 129.18 in the upcoming week.

Weekly OHLC Values
Open 137.00
High 139.55
Low 128.25
Close 135.30

Week for GRMOVER started with an open price of 137.00, and the close was at 135.30. GRMOVER reached the highest of 139.55 and dipped lowest up to 128.25 last week. This indicates a bearish sentiment for the week.

GRMOVER full month swing targets
Monthly Up Target 1 151.78
Monthly Up Target 2 156.97
Monthly Down Target 1 117.88
Monthly Down Target 2 100.47

Targets of ₹151.78 can be expected to be reached in the coming month. Once GRMOVER achieved this target, we can aim for the next upside target of ₹156.97.

GRMOVER if fails to hold upside, down targets of ₹117.88 and ₹100.47 can be achieved by end of this month.

For complete three weeks if GRMOVER 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

GRMOVER is expected to reach the target of 139.62 in tomorrow's trading session.

After achieving the initial target in GRMOVER, we will aim for higher targets of 143.93 tomorrow.

However, if GRMOVER starts to trade below ₹135.23, then we will shift our focus to the sell side and aim for down targets of 130.92 and 126.53.