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

Hindustan Composites Limited

Symbol: NSE:HINDCOMPOS

ISIN: INE310C01029

424.10

As on 2024-04-12

266.20 (52W Low) 494.45 (52W High)

HINDCOMPOS's Today's Performance

Hindustan Composites Limited started the day by opening at 428.10 today 2024-04-12. Its shares reached a high of 434.95 and dipped to a low of 423.05 in intraday. When the markets closed, HINDCOMPOS’s stock price settled at ₹424.10 per share. Also check out its key support and resistance levels.

HINDCOMPOS Buy/Sell Targets

Tomorrow, sell HINDCOMPOS when its price reaches ₹ 424.10 with a stop-loss order at ₹ 430.29. You can set the target price as ₹ 417.91 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 HINDCOMPOS 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 HINDCOMPOS

Resistance Levels Value in ₹
Tomorrow Resistance 1 432
Tomorrow Resistance 2 439
Tomorrow Resistance 3 444

Important Supports for HINDCOMPOS

Support Levels Value in ₹
Tomorrow Support 1 420
Tomorrow Support 2 415
Tomorrow Support 3 408
Based on where the stock opens tomorrow, if HINDCOMPOS opens on a positive note, our first target will be ₹432. If Target 1 is achieved, we will aim for Target 2 which is ₹439.

But if HINDCOMPOS falls below the average value of ₹427.37, you can enter a sell side position with target number 1 - ₹420 and second target - ₹415 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 HINDCOMPOS

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

Based on this, the predicted sentiment for HINDCOMPOS is moderate bullish.

Tomorrow's Volume based share price Forecast for HINDCOMPOS

HINDCOMPOS's Volume is currently in a Decreasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a moderate bullish trend. Volume trend strength over the last month compared to the last week is 133%.

Reversal detection for HINDCOMPOS

Predicted trend chart of HINDCOMPOS tomorrow for price forecast
HINDCOMPOS may trend may continue to be bearish since stock is making lower low and we can get target of ₹427 in morning tomorrow
Target 1 tomorrow432
Target 2 tomorrow435
Target 3 tomorrow439
 

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 HINDCOMPOS'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 HINDCOMPOS opens on a positive note, our first target will be ₹431.68. If Target 1 is achieved, we will aim for Target 2 which is ₹439.27.

But if HINDCOMPOS falls below the average value of ₹427.37, you can enter a sell side position with target number 1 - ₹419.78 and second target - ₹415.47

HINDCOMPOS's Weekly Targets
1st Up Target 442.32
2nd Up Target 460.53
1st Down Target 413.57
2nd Down Target 403.03

As the week for HINDCOMPOS ended on bearish sentiments, we can expect further continuation of this sentiment. HINDCOMPOS's initial target will be 442.32 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 413.57 in the upcoming week.

Weekly OHLC Values
Open 426.00
High 450.00
Low 421.25
Close 424.10

Week for HINDCOMPOS started with an open price of 426.00, and the close was at 424.10. HINDCOMPOS reached the highest of 450.00 and dipped lowest up to 421.25 last week. This indicates a bearish sentiment for the week.

HINDCOMPOS full month swing targets
Monthly Up Target 1 471.07
Monthly Up Target 2 489.28
Monthly Down Target 1 384.82
Monthly Down Target 2 345.53

Targets of ₹471.07 can be expected to be reached in the coming month. Once HINDCOMPOS achieved this target, we can aim for the next upside target of ₹489.28.

HINDCOMPOS if fails to hold upside, down targets of ₹384.82 and ₹345.53 can be achieved by end of this month.

For complete three weeks if HINDCOMPOS 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

HINDCOMPOS is expected to reach the target of 431.68 in tomorrow's trading session.

After achieving the initial target in HINDCOMPOS, we will aim for higher targets of 439.27 tomorrow.

However, if HINDCOMPOS starts to trade below ₹427.37, then we will shift our focus to the sell side and aim for down targets of 419.78 and 415.47.