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

Indian Bank

Symbol: NSE:INDIANB

ISIN: INE562A01011

509.95

As on 2024-04-24

268.00 (52W Low) 573.75 (52W High)

INDIANB's Today's Performance

Indian Bank started the day by opening at 517.70 today 2024-04-24. Its shares reached a high of 521.65 and dipped to a low of 506.30 in intraday. When the markets closed, INDIANB’s stock price settled at ₹509.95 per share. Also check out its key support and resistance levels.

INDIANB Buy/Sell Targets

Tomorrow, sell INDIANB when its price reaches ₹ 509.95 with a stop-loss order at ₹ 517.68. You can set the target price as ₹ 502.23 to capture potential gains. This sell 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 INDIANB 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 INDIANB

Downside Targets Value in ₹
Tomorrow Down Target 1 519
Tomorrow Down Target 2 528
Tomorrow Down Target 3 534

Important Levels for INDIANB

Holding Levels Value in ₹
Tomorrow Up Target 1 504
Tomorrow Up Target 2 497
Tomorrow Up Target 3 488
Based on where the stock opens tomorrow, if INDIANB opens on a positive note, our first target will be ₹519. If Target 1 is achieved, we will aim for Target 2 which is ₹528.

But if INDIANB falls below the average value of ₹512.63, you can enter a sell side position with target number 1 - ₹504 and second target - ₹497 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 INDIANB

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

Based on this, the predicted sentiment for INDIANB is strong bearish.

Tomorrow's Volume based share price Forecast for INDIANB

INDIANB's Volume is currently in a Increasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a strong bearish trend. Volume trend strength over the last month compared to the last week is 26%.

Reversal detection for INDIANB

Predicted trend chart of INDIANB tomorrow for price forecast
INDIANB may trend may continue to be bearish since stock is making lower low and we can get target of ₹519 in morning tomorrow
Target 1 tomorrow518
Target 2 tomorrow522
Target 3 tomorrow528
 

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 INDIANB'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 INDIANB opens on a positive note, our first target will be ₹518.97. If Target 1 is achieved, we will aim for Target 2 which is ₹527.98.

But if INDIANB falls below the average value of ₹512.63, you can enter a sell side position with target number 1 - ₹503.62 and second target - ₹497.28

INDIANB's Weekly Targets
1st Up Target 525.50
2nd Up Target 541.05
1st Down Target 500.35
2nd Down Target 490.75

As the week for INDIANB ended on bearish sentiments, we can expect further continuation of this sentiment. INDIANB's initial target will be 525.50 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 500.35 in the upcoming week.

Weekly OHLC Values
Open 519.80
High 531.45
Low 506.30
Close 509.95

Week for INDIANB started with an open price of 519.80, and the close was at 509.95. INDIANB reached the highest of 531.45 and dipped lowest up to 506.30 last week. This indicates a bearish sentiment for the week.

INDIANB full month swing targets
Monthly Up Target 1 550.65
Monthly Up Target 2 566.20
Monthly Down Target 1 475.20
Monthly Down Target 2 440.45

Targets of ₹550.65 can be expected to be reached in the coming month. Once INDIANB achieved this target, we can aim for the next upside target of ₹566.20.

INDIANB if fails to hold upside, down targets of ₹475.20 and ₹440.45 can be achieved by end of this month.

For complete three weeks if INDIANB 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 INDIANB

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

INDIANB is expected to reach the target of 518.97 in tomorrow's trading session.

After achieving the initial target in INDIANB, we will aim for higher targets of 527.98 tomorrow.

However, if INDIANB starts to trade below ₹512.63, then we will shift our focus to the sell side and aim for down targets of 503.62 and 497.28.