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

HFCL Limited

Symbol: NSE:HFCL

ISIN: INE548A01028

94.15

As on 2024-04-16

60.35 (52W Low) 117.80 (52W High)

HFCL's Today's Performance

HFCL Limited started the day by opening at 93.10 today 2024-04-16. Its shares reached a high of 96.10 and dipped to a low of 93.10 in intraday. When the markets closed, HFCL’s stock price settled at ₹94.15 per share. Also check out its key support and resistance levels.

HFCL Buy/Sell Targets

Tomorrow, sell HFCL when its price reaches ₹ 94.15 with a stop-loss order at ₹ 96.13. You can set the target price as ₹ 92.17 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 HFCL 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 HFCL

Resistance Levels Value in ₹
Tomorrow Resistance 1 96
Tomorrow Resistance 2 97
Tomorrow Resistance 3 99

Important Supports for HFCL

Support Levels Value in ₹
Tomorrow Support 1 93
Tomorrow Support 2 91
Tomorrow Support 3 90
Based on where the stock opens tomorrow, if HFCL opens on a positive note, our first target will be ₹96. If Target 1 is achieved, we will aim for Target 2 which is ₹97.

But if HFCL falls below the average value of ₹94.45, you can enter a sell side position with target number 1 - ₹93 and second target - ₹91 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 HFCL

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

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

Tomorrow's Volume based share price Forecast for HFCL

HFCL'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 51%.

Reversal detection for HFCL

Predicted trend chart of HFCL tomorrow for price forecast
HFCL may trend may continue to be bearish since stock is making lower low and we can get target of ₹95 in morning tomorrow
Target 1 tomorrow96
Target 2 tomorrow96
Target 3 tomorrow97
 

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 HFCL'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 HFCL opens on a positive note, our first target will be ₹95.80. If Target 1 is achieved, we will aim for Target 2 which is ₹97.45.

But if HFCL falls below the average value of ₹94.45, you can enter a sell side position with target number 1 - ₹92.80 and second target - ₹91.45

HFCL's Weekly Targets
1st Up Target 96.50
2nd Up Target 98.85
1st Down Target 92.20
2nd Down Target 90.25

As the week for HFCL ended on bearish sentiments, we can expect further continuation of this sentiment. HFCL's initial target will be 96.50 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 92.20 in the upcoming week.

Weekly OHLC Values
Open 95.95
High 96.90
Low 92.60
Close 94.15

Week for HFCL started with an open price of 95.95, and the close was at 94.15. HFCL reached the highest of 96.90 and dipped lowest up to 92.60 last week. This indicates a bearish sentiment for the week.

HFCL full month swing targets
Monthly Up Target 1 100.80
Monthly Up Target 2 103.15
Monthly Down Target 1 87.90
Monthly Down Target 2 81.65

Targets of ₹100.80 can be expected to be reached in the coming month. Once HFCL achieved this target, we can aim for the next upside target of ₹103.15.

HFCL if fails to hold upside, down targets of ₹87.90 and ₹81.65 can be achieved by end of this month.

For complete three weeks if HFCL 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

HFCL is expected to reach the target of 95.80 in tomorrow's trading session.

After achieving the initial target in HFCL, we will aim for higher targets of 97.45 tomorrow.

However, if HFCL starts to trade below ₹94.45, then we will shift our focus to the sell side and aim for down targets of 92.80 and 91.45.