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

Harrisons Malayalam Limited

Symbol: NSE:HARRMALAYA

ISIN: INE544A01019

164.55

As on 2024-04-16

113.50 (52W Low) 216.00 (52W High)

HARRMALAYA's Today's Performance

Harrisons Malayalam Limited started the day by opening at 163.85 today 2024-04-16. Its shares reached a high of 168.05 and dipped to a low of 163.40 in intraday. When the markets closed, HARRMALAYA’s stock price settled at ₹164.55 per share. Also check out its key support and resistance levels.

HARRMALAYA Buy/Sell Targets

Tomorrow, buy HARRMALAYA when its price reaches ₹ 164.55 with a stop-loss order at ₹ 161.84. You can set the target price as ₹ 167.26 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 HARRMALAYA 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 HARRMALAYA

Resistance Levels Value in ₹
Tomorrow Resistance 1 167
Tomorrow Resistance 2 170
Tomorrow Resistance 3 172

Important Supports for HARRMALAYA

Support Levels Value in ₹
Tomorrow Support 1 163
Tomorrow Support 2 161
Tomorrow Support 3 158
Based on where the stock opens tomorrow, if HARRMALAYA opens on a positive note, our first target will be ₹167. If Target 1 is achieved, we will aim for Target 2 which is ₹170.

But if HARRMALAYA falls below the average value of ₹165.33, you can enter a sell side position with target number 1 - ₹163 and second target - ₹161 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 HARRMALAYA

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

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

Tomorrow's Volume based share price Forecast for HARRMALAYA

HARRMALAYA'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 81%.

Reversal detection for HARRMALAYA

Predicted trend chart of HARRMALAYA tomorrow for price forecast
HARRMALAYA may trend may continue to be bullish since stock is making higher highs and we can get target of ₹164 in morning tomorrow
Target 1 tomorrow167
Target 2 tomorrow168
Target 3 tomorrow170
 

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 HARRMALAYA'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 HARRMALAYA opens on a positive note, our first target will be ₹167.27. If Target 1 is achieved, we will aim for Target 2 which is ₹169.98.

But if HARRMALAYA falls below the average value of ₹165.33, you can enter a sell side position with target number 1 - ₹162.62 and second target - ₹160.68

HARRMALAYA's Weekly Targets
1st Up Target 168.08
2nd Up Target 171.62
1st Down Target 160.98
2nd Down Target 157.42

As the week for HARRMALAYA ended on bearish sentiments, we can expect further continuation of this sentiment. HARRMALAYA's initial target will be 168.08 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 160.98 in the upcoming week.

Weekly OHLC Values
Open 168.00
High 168.05
Low 160.95
Close 164.55

Week for HARRMALAYA started with an open price of 168.00, and the close was at 164.55. HARRMALAYA reached the highest of 168.05 and dipped lowest up to 160.95 last week. This indicates a bearish sentiment for the week.

HARRMALAYA full month swing targets
Monthly Up Target 1 175.18
Monthly Up Target 2 178.72
Monthly Down Target 1 153.88
Monthly Down Target 2 143.22

Targets of ₹175.18 can be expected to be reached in the coming month. Once HARRMALAYA achieved this target, we can aim for the next upside target of ₹178.72.

HARRMALAYA if fails to hold upside, down targets of ₹153.88 and ₹143.22 can be achieved by end of this month.

For complete three weeks if HARRMALAYA 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

HARRMALAYA is expected to reach the target of 167.27 in tomorrow's trading session.

After achieving the initial target in HARRMALAYA, we will aim for higher targets of 169.98 tomorrow.

However, if HARRMALAYA starts to trade below ₹165.33, then we will shift our focus to the sell side and aim for down targets of 162.62 and 160.68.