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

Hindcon Chemicals Limited

Symbol: NSE:HINDCON

ISIN: INE642Y01011

50.93

As on 2024-07-23

29.50 (52W Low) 149.50 (52W High)

HINDCON's Today's Performance

Hindcon Chemicals Limited started the day by opening at 52.86 today 2024-07-23. Its shares reached a high of 52.90 and dipped to a low of 50.00 in intraday. When the markets closed, HINDCON’s stock price settled at ₹50.93 per share. Also check out its key support and resistance levels.

HINDCON Buy/Sell Targets

Tomorrow, sell HINDCON when its price reaches ₹ 50.93 with a stop-loss order at ₹ 52.55. You can set the target price as ₹ 49.31 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 HINDCON for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Down levels for HINDCON

Downside Targets Value in ₹
Tomorrow Down Target 1 53
Tomorrow Down Target 2 54
Tomorrow Down Target 3 55

Important Levels for HINDCON

Holding Levels Value in ₹
Tomorrow Up Target 1 50
Tomorrow Up Target 2 48
Tomorrow Up Target 3 47
Based on where the stock opens tomorrow, if HINDCON opens on a positive note, our first target will be ₹53. If Target 1 is achieved, we will aim for Target 2 which is ₹54.

But if HINDCON falls below the average value of ₹51.28, you can enter a sell side position with target number 1 - ₹50 and second target - ₹48 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 HINDCON

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

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

Tomorrow's Volume based share price Forecast for HINDCON

HINDCON's Volume is currently in a Increasing 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 -23%.

Reversal detection for HINDCON

Predicted trend chart of HINDCON tomorrow for price forecast
HINDCON may trend may continue to be bearish since stock is making lower low and we can get target of ₹52 in morning tomorrow
Target 1 tomorrow52
Target 2 tomorrow53
Target 3 tomorrow54
 

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 HINDCON'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 HINDCON opens on a positive note, our first target will be ₹52.55. If Target 1 is achieved, we will aim for Target 2 which is ₹54.18.

But if HINDCON falls below the average value of ₹51.28, you can enter a sell side position with target number 1 - ₹49.65 and second target - ₹48.38

HINDCON's Weekly Targets
1st Up Target 53.28
2nd Up Target 55.63
1st Down Target 49.29
2nd Down Target 47.65

As the week for HINDCON ended on bearish sentiments, we can expect further continuation of this sentiment. HINDCON's initial target will be 53.28 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 49.29 in the upcoming week.

Weekly OHLC Values
Open 51.40
High 53.99
Low 50.00
Close 50.93

Week for HINDCON started with an open price of 51.40, and the close was at 50.93. HINDCON reached the highest of 53.99 and dipped lowest up to 50.00 last week. This indicates a bearish sentiment for the week.

HINDCON full month swing targets
Monthly Up Target 1 57.27
Monthly Up Target 2 59.62
Monthly Down Target 1 45.30
Monthly Down Target 2 39.67

Targets of ₹57.27 can be expected to be reached in the coming month. Once HINDCON achieved this target, we can aim for the next upside target of ₹59.62.

HINDCON if fails to hold upside, down targets of ₹45.30 and ₹39.67 can be achieved by end of this month.

For complete three weeks if HINDCON 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

HINDCON is expected to reach the target of 52.55 in tomorrow's trading session.

After achieving the initial target in HINDCON, we will aim for higher targets of 54.18 tomorrow.

However, if HINDCON starts to trade below ₹51.28, then we will shift our focus to the sell side and aim for down targets of 49.65 and 48.38.