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

Indo Borax & Chemicals Limited

Symbol: NSE:INDOBORAX

ISIN: INE803D01021

174.10

As on 2024-04-16

112.25 (52W Low) 238.00 (52W High)

INDOBORAX's Today's Performance

Indo Borax & Chemicals Limited started the day by opening at 174.00 today 2024-04-16. Its shares reached a high of 176.70 and dipped to a low of 172.90 in intraday. When the markets closed, INDOBORAX’s stock price settled at ₹174.10 per share. Also check out its key support and resistance levels.

INDOBORAX Buy/Sell Targets

Tomorrow, buy INDOBORAX when its price reaches ₹ 174.10 with a stop-loss order at ₹ 171.41. You can set the target price as ₹ 176.79 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 INDOBORAX 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 INDOBORAX

Resistance Levels Value in ₹
Tomorrow Resistance 1 176
Tomorrow Resistance 2 178
Tomorrow Resistance 3 180

Important Supports for INDOBORAX

Support Levels Value in ₹
Tomorrow Support 1 172
Tomorrow Support 2 171
Tomorrow Support 3 169
Based on where the stock opens tomorrow, if INDOBORAX opens on a positive note, our first target will be ₹176. If Target 1 is achieved, we will aim for Target 2 which is ₹178.

But if INDOBORAX falls below the average value of ₹174.57, you can enter a sell side position with target number 1 - ₹172 and second target - ₹171 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 INDOBORAX

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

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

Tomorrow's Volume based share price Forecast for INDOBORAX

INDOBORAX'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 -2%.

Reversal detection for INDOBORAX

Predicted trend chart of INDOBORAX tomorrow for price forecast
INDOBORAX may trend may continue to be bullish since stock is making higher highs and we can get target of ₹173 in morning tomorrow
Target 1 tomorrow176
Target 2 tomorrow177
Target 3 tomorrow178
 

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 INDOBORAX'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 INDOBORAX opens on a positive note, our first target will be ₹176.23. If Target 1 is achieved, we will aim for Target 2 which is ₹178.37.

But if INDOBORAX falls below the average value of ₹174.57, you can enter a sell side position with target number 1 - ₹172.43 and second target - ₹170.77

INDOBORAX's Weekly Targets
1st Up Target 177.35
2nd Up Target 180.60
1st Down Target 170.20
2nd Down Target 166.30

As the week for INDOBORAX ended on bullish sentiments, we can expect further continuation of this sentiment. INDOBORAX's initial target will be 177.35 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 170.20 in the upcoming week.

Weekly OHLC Values
Open 174.00
High 176.70
Low 169.55
Close 174.10

Week for INDOBORAX started with an open price of 174.00, and the close was at 174.10. INDOBORAX reached the highest of 176.70 and dipped lowest up to 169.55 last week. This indicates a bullish sentiment for the week.

INDOBORAX full month swing targets
Monthly Up Target 1 184.50
Monthly Up Target 2 187.75
Monthly Down Target 1 163.05
Monthly Down Target 2 152.00

Targets of ₹184.50 can be expected to be reached in the coming month. Once INDOBORAX achieved this target, we can aim for the next upside target of ₹187.75.

INDOBORAX if fails to hold upside, down targets of ₹163.05 and ₹152.00 can be achieved by end of this month.

For complete three weeks if INDOBORAX 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

INDOBORAX is expected to reach the target of 176.23 in tomorrow's trading session.

After achieving the initial target in INDOBORAX, we will aim for higher targets of 178.37 tomorrow.

However, if INDOBORAX starts to trade below ₹174.57, then we will shift our focus to the sell side and aim for down targets of 172.43 and 170.77.