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

The India Cements Limited

Symbol: NSE:INDIACEM

ISIN: INE383A01012

227.60

As on 2024-04-24

176.25 (52W Low) 277.00 (52W High)

INDIACEM's Today's Performance

The India Cements Limited started the day by opening at 225.25 today 2024-04-24. Its shares reached a high of 232.70 and dipped to a low of 225.10 in intraday. When the markets closed, INDIACEM’s stock price settled at ₹227.60 per share. Also check out its key support and resistance levels.

INDIACEM Buy/Sell Targets

Tomorrow, buy INDIACEM when its price reaches ₹ 227.60 with a stop-loss order at ₹ 223.64. You can set the target price as ₹ 231.56 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 INDIACEM 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 INDIACEM

Downside Targets Value in ₹
Tomorrow Down Target 1 232
Tomorrow Down Target 2 236
Tomorrow Down Target 3 239

Important Levels for INDIACEM

Holding Levels Value in ₹
Tomorrow Up Target 1 224
Tomorrow Up Target 2 221
Tomorrow Up Target 3 217
Based on where the stock opens tomorrow, if INDIACEM opens on a positive note, our first target will be ₹232. If Target 1 is achieved, we will aim for Target 2 which is ₹236.

But if INDIACEM falls below the average value of ₹228.47, you can enter a sell side position with target number 1 - ₹224 and second target - ₹221 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 INDIACEM

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

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

Tomorrow's Volume based share price Forecast for INDIACEM

INDIACEM'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 -41%.

Reversal detection for INDIACEM

Predicted trend chart of INDIACEM tomorrow for price forecast
INDIACEM may reverse its trend from upside (Short term bearish outlook) and we can get target of ₹224 in morning tomorrow
Target 1 tomorrow231
Target 2 tomorrow233
Target 3 tomorrow236
 

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 INDIACEM'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 INDIACEM opens on a positive note, our first target will be ₹231.83. If Target 1 is achieved, we will aim for Target 2 which is ₹236.07.

But if INDIACEM falls below the average value of ₹228.47, you can enter a sell side position with target number 1 - ₹224.23 and second target - ₹220.87

INDIACEM's Weekly Targets
1st Up Target 233.85
2nd Up Target 240.10
1st Down Target 220.20
2nd Down Target 212.80

As the week for INDIACEM ended on bearish sentiments, we can expect further continuation of this sentiment. INDIACEM's initial target will be 233.85 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 220.20 in the upcoming week.

Weekly OHLC Values
Open 228.00
High 232.70
Low 219.05
Close 227.60

Week for INDIACEM started with an open price of 228.00, and the close was at 227.60. INDIACEM reached the highest of 232.70 and dipped lowest up to 219.05 last week. This indicates a bearish sentiment for the week.

INDIACEM full month swing targets
Monthly Up Target 1 247.50
Monthly Up Target 2 253.75
Monthly Down Target 1 206.55
Monthly Down Target 2 185.50

Targets of ₹247.50 can be expected to be reached in the coming month. Once INDIACEM achieved this target, we can aim for the next upside target of ₹253.75.

INDIACEM if fails to hold upside, down targets of ₹206.55 and ₹185.50 can be achieved by end of this month.

For complete three weeks if INDIACEM 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 INDIACEM

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

INDIACEM is expected to reach the target of 231.83 in tomorrow's trading session.

After achieving the initial target in INDIACEM, we will aim for higher targets of 236.07 tomorrow.

However, if INDIACEM starts to trade below ₹228.47, then we will shift our focus to the sell side and aim for down targets of 224.23 and 220.87.