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

IIFL Finance Limited

Symbol: NSE:IIFL

ISIN: INE530B01024

410.55

As on 2024-04-24

313.25 (52W Low) 703.40 (52W High)

IIFL's Today's Performance

IIFL Finance Limited started the day by opening at 410.10 today 2024-04-24. Its shares reached a high of 415.80 and dipped to a low of 408.50 in intraday. When the markets closed, IIFL’s stock price settled at ₹410.55 per share. Also check out its key support and resistance levels.

IIFL Buy/Sell Targets

Tomorrow, buy IIFL when its price reaches ₹ 410.55 with a stop-loss order at ₹ 404.89. You can set the target price as ₹ 416.21 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 IIFL 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 IIFL

Downside Targets Value in ₹
Tomorrow Down Target 1 415
Tomorrow Down Target 2 419
Tomorrow Down Target 3 422

Important Levels for IIFL

Holding Levels Value in ₹
Tomorrow Up Target 1 407
Tomorrow Up Target 2 404
Tomorrow Up Target 3 400
Based on where the stock opens tomorrow, if IIFL opens on a positive note, our first target will be ₹415. If Target 1 is achieved, we will aim for Target 2 which is ₹419.

But if IIFL falls below the average value of ₹411.62, you can enter a sell side position with target number 1 - ₹407 and second target - ₹404 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 IIFL

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

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

Tomorrow's Volume based share price Forecast for IIFL

IIFL'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 -75%.

Reversal detection for IIFL

Predicted trend chart of IIFL tomorrow for price forecast
IIFL may trend may continue to be bullish since stock is making higher highs and we can get target of ₹410 in morning tomorrow
Target 1 tomorrow414
Target 2 tomorrow416
Target 3 tomorrow419
 

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 IIFL'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 IIFL opens on a positive note, our first target will be ₹414.73. If Target 1 is achieved, we will aim for Target 2 which is ₹418.92.

But if IIFL falls below the average value of ₹411.62, you can enter a sell side position with target number 1 - ₹407.43 and second target - ₹404.32

IIFL's Weekly Targets
1st Up Target 418.76
2nd Up Target 426.96
1st Down Target 399.82
2nd Down Target 389.08

As the week for IIFL ended on bullish sentiments, we can expect further continuation of this sentiment. IIFL's initial target will be 418.76 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 399.82 in the upcoming week.

Weekly OHLC Values
Open 397.29
High 416.23
Low 397.29
Close 410.55

Week for IIFL started with an open price of 397.29, and the close was at 410.55. IIFL reached the highest of 416.23 and dipped lowest up to 397.29 last week. This indicates a bullish sentiment for the week.

IIFL full month swing targets
Monthly Up Target 1 437.70
Monthly Up Target 2 445.90
Monthly Down Target 1 380.88
Monthly Down Target 2 351.20

Targets of ₹437.70 can be expected to be reached in the coming month. Once IIFL achieved this target, we can aim for the next upside target of ₹445.90.

IIFL if fails to hold upside, down targets of ₹380.88 and ₹351.20 can be achieved by end of this month.

For complete three weeks if IIFL 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 IIFL

Symbol Name Industry
HDFCBANK HDFC Bank Limited Banks - Regional
ICICIBANK ICICI Bank Limited Banks - Regional
SBIN State Bank of India Banks - Regional
LICI Life Insurance Corporation Of India Insurance - Life
BAJFINANCE Bajaj Finance Limited Credit Services

Summary

IIFL is expected to reach the target of 414.73 in tomorrow's trading session.

After achieving the initial target in IIFL, we will aim for higher targets of 418.92 tomorrow.

However, if IIFL starts to trade below ₹411.62, then we will shift our focus to the sell side and aim for down targets of 407.43 and 404.32.