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

InterGlobe Aviation Limited

Symbol: NSE:INDIGO

ISIN: INE646L01027

3,570.05

As on 2024-04-16

1,882.85 (52W Low) 3,830.45 (52W High)

INDIGO's Today's Performance

InterGlobe Aviation Limited started the day by opening at 3,589.70 today 2024-04-16. Its shares reached a high of 3,636.75 and dipped to a low of 3,512.90 in intraday. When the markets closed, INDIGO’s stock price settled at ₹3,570.05 per share. Also check out its key support and resistance levels.

INDIGO Buy/Sell Targets

Tomorrow, sell INDIGO when its price reaches ₹ 3,570.05 with a stop-loss order at ₹ 3,640.95. You can set the target price as ₹ 3,499.15 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 INDIGO for tomorrow's session along with weekly support and resistance. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Resistance for INDIGO

Resistance Levels Value in ₹
Tomorrow Resistance 1 3,634
Tomorrow Resistance 2 3,697
Tomorrow Resistance 3 3,757

Important Supports for INDIGO

Support Levels Value in ₹
Tomorrow Support 1 3,510
Tomorrow Support 2 3,449
Tomorrow Support 3 3,386
Based on where the stock opens tomorrow, if INDIGO opens on a positive note, our first target will be ₹3,634. If Target 1 is achieved, we will aim for Target 2 which is ₹3,697.

But if INDIGO falls below the average value of ₹3,573.23, you can enter a sell side position with target number 1 - ₹3,510 and second target - ₹3,449 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 INDIGO

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

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

Tomorrow's Volume based share price Forecast for INDIGO

INDIGO'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 -30%.

Reversal detection for INDIGO

Predicted trend chart of INDIGO tomorrow for price forecast
INDIGO may trend may continue to be bearish since stock is making lower low and we can get target of ₹3614 in morning tomorrow
Target 1 tomorrow3621
Target 2 tomorrow3650
Target 3 tomorrow3697
 

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 INDIGO'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 INDIGO opens on a positive note, our first target will be ₹3,633.57. If Target 1 is achieved, we will aim for Target 2 which is ₹3,697.08.

But if INDIGO falls below the average value of ₹3,573.23, you can enter a sell side position with target number 1 - ₹3,509.72 and second target - ₹3,449.38

INDIGO's Weekly Targets
1st Up Target 3,671.23
2nd Up Target 3,772.42
1st Down Target 3,490.88
2nd Down Target 3,411.72

As the week for INDIGO ended on bearish sentiments, we can expect further continuation of this sentiment. INDIGO's initial target will be 3,671.23 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 3,490.88 in the upcoming week.

Weekly OHLC Values
Open 3,670.30
High 3,693.25
Low 3,512.90
Close 3,570.05

Week for INDIGO started with an open price of 3,670.30, and the close was at 3,570.05. INDIGO reached the highest of 3,693.25 and dipped lowest up to 3,512.90 last week. This indicates a bearish sentiment for the week.

INDIGO full month swing targets
Monthly Up Target 1 3,851.58
Monthly Up Target 2 3,952.77
Monthly Down Target 1 3,310.53
Monthly Down Target 2 3,051.02

Targets of ₹3,851.58 can be expected to be reached in the coming month. Once INDIGO achieved this target, we can aim for the next upside target of ₹3,952.77.

INDIGO if fails to hold upside, down targets of ₹3,310.53 and ₹3,051.02 can be achieved by end of this month.

For complete three weeks if INDIGO 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 INDIGO

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SIEMENS Siemens Limited Specialty Industrial Machinery
BEL Bharat Electronics Limited Aerospace & Defense

Summary

INDIGO is expected to reach the target of 3,633.57 in tomorrow's trading session.

After achieving the initial target in INDIGO, we will aim for higher targets of 3,697.08 tomorrow.

However, if INDIGO starts to trade below ₹3,573.23, then we will shift our focus to the sell side and aim for down targets of 3,509.72 and 3,449.38.