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

Hi-Tech Pipes Limited

Symbol: NSE:HITECH

ISIN: INE106T01025

131.50

As on 2024-04-16

71.00 (52W Low) 170.00 (52W High)

HITECH's Today's Performance

Hi-Tech Pipes Limited started the day by opening at 127.90 today 2024-04-16. Its shares reached a high of 132.40 and dipped to a low of 127.85 in intraday. When the markets closed, HITECH’s stock price settled at ₹131.50 per share. Also check out its key support and resistance levels.

HITECH Buy/Sell Targets

Tomorrow, buy HITECH when its price reaches ₹ 131.50 with a stop-loss order at ₹ 129.02. You can set the target price as ₹ 133.98 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 HITECH 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 HITECH

Resistance Levels Value in ₹
Tomorrow Resistance 1 133
Tomorrow Resistance 2 135
Tomorrow Resistance 3 138

Important Supports for HITECH

Support Levels Value in ₹
Tomorrow Support 1 129
Tomorrow Support 2 126
Tomorrow Support 3 124
Based on where the stock opens tomorrow, if HITECH opens on a positive note, our first target will be ₹133. If Target 1 is achieved, we will aim for Target 2 which is ₹135.

But if HITECH falls below the average value of ₹130.58, you can enter a sell side position with target number 1 - ₹129 and second target - ₹126 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 HITECH

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

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

Tomorrow's Volume based share price Forecast for HITECH

HITECH'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 HITECH

Predicted trend chart of HITECH tomorrow for price forecast
HITECH may trend may continue to be bullish since stock is making higher highs and we can get target of ₹129 in morning tomorrow
Target 1 tomorrow132
Target 2 tomorrow133
Target 3 tomorrow135
 

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 HITECH'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 HITECH opens on a positive note, our first target will be ₹133.32. If Target 1 is achieved, we will aim for Target 2 which is ₹135.13.

But if HITECH falls below the average value of ₹130.58, you can enter a sell side position with target number 1 - ₹128.77 and second target - ₹126.03

HITECH's Weekly Targets
1st Up Target 133.90
2nd Up Target 136.30
1st Down Target 127.60
2nd Down Target 123.70

As the week for HITECH ended on bullish sentiments, we can expect further continuation of this sentiment. HITECH's initial target will be 133.90 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 127.60 in the upcoming week.

Weekly OHLC Values
Open 126.10
High 132.40
Low 126.10
Close 131.50

Week for HITECH started with an open price of 126.10, and the close was at 131.50. HITECH reached the highest of 132.40 and dipped lowest up to 126.10 last week. This indicates a bullish sentiment for the week.

HITECH full month swing targets
Monthly Up Target 1 140.20
Monthly Up Target 2 142.60
Monthly Down Target 1 121.30
Monthly Down Target 2 111.10

Targets of ₹140.20 can be expected to be reached in the coming month. Once HITECH achieved this target, we can aim for the next upside target of ₹142.60.

HITECH if fails to hold upside, down targets of ₹121.30 and ₹111.10 can be achieved by end of this month.

For complete three weeks if HITECH 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

HITECH is expected to reach the target of 133.32 in tomorrow's trading session.

After achieving the initial target in HITECH, we will aim for higher targets of 135.13 tomorrow.

However, if HITECH starts to trade below ₹130.58, then we will shift our focus to the sell side and aim for down targets of 128.77 and 126.03.