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

Indian Metals & Ferro Alloys Limited

Symbol: NSE:IMFA

ISIN: INE919H01018

792.30

As on 2024-06-13

281.60 (52W Low) 880.00 (52W High)

IMFA's Today's Performance

Indian Metals & Ferro Alloys Limited started the day by opening at 805.00 today 2024-06-13. Its shares reached a high of 805.05 and dipped to a low of 787.05 in intraday. When the markets closed, IMFA’s stock price settled at ₹792.30 per share. Also check out its key support and resistance levels.

IMFA Buy/Sell Targets

Tomorrow, buy IMFA when its price reaches ₹ 792.30 with a stop-loss order at ₹ 755.26. You can set the target price as ₹ 829.34 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 IMFA 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 IMFA

Downside Targets Value in ₹
Tomorrow Down Target 1 803
Tomorrow Down Target 2 813
Tomorrow Down Target 3 821

Important Levels for IMFA

Holding Levels Value in ₹
Tomorrow Up Target 1 785
Tomorrow Up Target 2 777
Tomorrow Up Target 3 767
Based on where the stock opens tomorrow, if IMFA opens on a positive note, our first target will be ₹803. If Target 1 is achieved, we will aim for Target 2 which is ₹813.

But if IMFA falls below the average value of ₹794.80, you can enter a sell side position with target number 1 - ₹785 and second target - ₹777 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 IMFA

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

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

Tomorrow's Volume based share price Forecast for IMFA

IMFA'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 -27%.

Reversal detection for IMFA

Predicted trend chart of IMFA tomorrow for price forecast
IMFA may trend may continue to be bullish since stock is making higher highs and we can get target of ₹814 in morning tomorrow
Target 1 tomorrow802
Target 2 tomorrow806
Target 3 tomorrow813
 

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 IMFA'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 IMFA opens on a positive note, our first target will be ₹802.55. If Target 1 is achieved, we will aim for Target 2 which is ₹812.80.

But if IMFA falls below the average value of ₹794.80, you can enter a sell side position with target number 1 - ₹784.55 and second target - ₹776.80

IMFA's Weekly Targets
1st Up Target 866.58
2nd Up Target 940.87
1st Down Target 731.43
2nd Down Target 670.57

As the week for IMFA ended on bullish sentiments, we can expect further continuation of this sentiment. IMFA's initial target will be 866.58 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 731.43 in the upcoming week.

Weekly OHLC Values
Open 744.85
High 880.00
Low 744.85
Close 792.30

Week for IMFA started with an open price of 744.85, and the close was at 792.30. IMFA reached the highest of 880.00 and dipped lowest up to 744.85 last week. This indicates a bullish sentiment for the week.

IMFA full month swing targets
Monthly Up Target 1 1,001.73
Monthly Up Target 2 1,076.02
Monthly Down Target 1 596.28
Monthly Down Target 2 400.27

Targets of ₹1,001.73 can be expected to be reached in the coming month. Once IMFA achieved this target, we can aim for the next upside target of ₹1,076.02.

IMFA if fails to hold upside, down targets of ₹596.28 and ₹400.27 can be achieved by end of this month.

For complete three weeks if IMFA 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

IMFA is expected to reach the target of 802.55 in tomorrow's trading session.

After achieving the initial target in IMFA, we will aim for higher targets of 812.80 tomorrow.

However, if IMFA starts to trade below ₹794.80, then we will shift our focus to the sell side and aim for down targets of 784.55 and 776.80.