Stock Information Portal

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

IG Petrochemicals Limited

Symbol: NSE:IGPL

ISIN: INE204A01010

627.00

As on 2024-07-24

402.50 (52W Low) 658.90 (52W High)

IGPL's Today's Performance

IG Petrochemicals Limited started the day by opening at 596.00 today 2024-07-24. Its shares reached a high of 633.50 and dipped to a low of 596.00 in intraday. When the markets closed, IGPL’s stock price settled at ₹627.00 per share. Also check out its key support and resistance levels.

IGPL Buy/Sell Targets

Tomorrow, buy IGPL when its price reaches ₹ 627.00 with a stop-loss order at ₹ 608.33. You can set the target price as ₹ 645.68 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 IGPL 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 IGPL

Downside Targets Value in ₹
Tomorrow Down Target 1 642
Tomorrow Down Target 2 656
Tomorrow Down Target 3 679

Important Levels for IGPL

Holding Levels Value in ₹
Tomorrow Up Target 1 604
Tomorrow Up Target 2 581
Tomorrow Up Target 3 567
Based on where the stock opens tomorrow, if IGPL opens on a positive note, our first target will be ₹642. If Target 1 is achieved, we will aim for Target 2 which is ₹656.

But if IGPL falls below the average value of ₹618.83, you can enter a sell side position with target number 1 - ₹604 and second target - ₹581 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 IGPL

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

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

Tomorrow's Volume based share price Forecast for IGPL

IGPL'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 -28%.

Reversal detection for IGPL

Predicted trend chart of IGPL tomorrow for price forecast
IGPL may reverse its trend from upside (Short term bearish outlook) and we can get target of ₹593 in morning tomorrow
Target 1 tomorrow633
Target 2 tomorrow642
Target 3 tomorrow656
 

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 IGPL'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 IGPL opens on a positive note, our first target will be ₹641.67. If Target 1 is achieved, we will aim for Target 2 which is ₹656.33.

But if IGPL falls below the average value of ₹618.83, you can enter a sell side position with target number 1 - ₹604.17 and second target - ₹581.33

IGPL's Weekly Targets
1st Up Target 648.33
2nd Up Target 669.67
1st Down Target 590.83
2nd Down Target 554.67

As the week for IGPL ended on bullish sentiments, we can expect further continuation of this sentiment. IGPL's initial target will be 648.33 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 590.83 in the upcoming week.

Weekly OHLC Values
Open 585.00
High 633.50
Low 576.00
Close 627.00

Week for IGPL started with an open price of 585.00, and the close was at 627.00. IGPL reached the highest of 633.50 and dipped lowest up to 576.00 last week. This indicates a bullish sentiment for the week.

IGPL full month swing targets
Monthly Up Target 1 705.83
Monthly Up Target 2 727.17
Monthly Down Target 1 533.33
Monthly Down Target 2 439.67

Targets of ₹705.83 can be expected to be reached in the coming month. Once IGPL achieved this target, we can aim for the next upside target of ₹727.17.

IGPL if fails to hold upside, down targets of ₹533.33 and ₹439.67 can be achieved by end of this month.

For complete three weeks if IGPL 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.

Related Stocks in the Same Sector as IGPL

Symbol Name Industry
ULTRACEMCO UltraTech Cement Limited Building Materials
ASIANPAINT Asian Paints Limited Specialty Chemicals
JSWSTEEL JSW Steel Limited Steel
TATASTEEL Tata Steel Limited Steel
GRASIM Grasim Industries Limited Building Materials

Summary

IGPL is expected to reach the target of 641.67 in tomorrow's trading session.

After achieving the initial target in IGPL, we will aim for higher targets of 656.33 tomorrow.

However, if IGPL starts to trade below ₹618.83, then we will shift our focus to the sell side and aim for down targets of 604.17 and 581.33.