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

Indoco Remedies Limited

Symbol: NSE:INDOCO

ISIN: INE873D01024

332.75

As on 2024-04-16

306.40 (52W Low) 414.00 (52W High)

INDOCO's Today's Performance

Indoco Remedies Limited started the day by opening at 336.20 today 2024-04-16. Its shares reached a high of 343.45 and dipped to a low of 329.85 in intraday. When the markets closed, INDOCO’s stock price settled at ₹332.75 per share. Also check out its key support and resistance levels.

INDOCO Buy/Sell Targets

Tomorrow, sell INDOCO when its price reaches ₹ 332.75 with a stop-loss order at ₹ 337.81. You can set the target price as ₹ 327.69 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 INDOCO 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 INDOCO

Resistance Levels Value in ₹
Tomorrow Resistance 1 341
Tomorrow Resistance 2 349
Tomorrow Resistance 3 354

Important Supports for INDOCO

Support Levels Value in ₹
Tomorrow Support 1 327
Tomorrow Support 2 322
Tomorrow Support 3 314
Based on where the stock opens tomorrow, if INDOCO opens on a positive note, our first target will be ₹341. If Target 1 is achieved, we will aim for Target 2 which is ₹349.

But if INDOCO falls below the average value of ₹335.35, you can enter a sell side position with target number 1 - ₹327 and second target - ₹322 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 INDOCO

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

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

Tomorrow's Volume based share price Forecast for INDOCO

INDOCO's Volume is currently in a Increasing 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 -38%.

Reversal detection for INDOCO

Predicted trend chart of INDOCO tomorrow for price forecast
INDOCO may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹340 in morning tomorrow
Target 1 tomorrow341
Target 2 tomorrow344
Target 3 tomorrow349
 

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 INDOCO'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 INDOCO opens on a positive note, our first target will be ₹340.85. If Target 1 is achieved, we will aim for Target 2 which is ₹348.95.

But if INDOCO falls below the average value of ₹335.35, you can enter a sell side position with target number 1 - ₹327.25 and second target - ₹321.75

INDOCO's Weekly Targets
1st Up Target 341.22
2nd Up Target 349.68
1st Down Target 327.07
2nd Down Target 321.38

As the week for INDOCO ended on bearish sentiments, we can expect further continuation of this sentiment. INDOCO's initial target will be 341.22 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 327.07 in the upcoming week.

Weekly OHLC Values
Open 340.00
High 344.00
Low 329.85
Close 332.75

Week for INDOCO started with an open price of 340.00, and the close was at 332.75. INDOCO reached the highest of 344.00 and dipped lowest up to 329.85 last week. This indicates a bearish sentiment for the week.

INDOCO full month swing targets
Monthly Up Target 1 355.37
Monthly Up Target 2 363.83
Monthly Down Target 1 312.92
Monthly Down Target 2 293.08

Targets of ₹355.37 can be expected to be reached in the coming month. Once INDOCO achieved this target, we can aim for the next upside target of ₹363.83.

INDOCO if fails to hold upside, down targets of ₹312.92 and ₹293.08 can be achieved by end of this month.

For complete three weeks if INDOCO 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 INDOCO

Symbol Name Industry
SUNPHARMA Sun Pharmaceutical Industries Limited Drug Manufacturers - Specialty & Generic
CIPLA Cipla Limited Drug Manufacturers - General
DRREDDY Dr. Reddy's Laboratories Limited Drug Manufacturers - Specialty & Generic
ZYDUSLIFE Zydus Lifesciences Limited Drug Manufacturers - Specialty & Generic
APOLLOHOSP Apollo Hospitals Enterprise Limited Medical Care Facilities

Summary

INDOCO is expected to reach the target of 340.85 in tomorrow's trading session.

After achieving the initial target in INDOCO, we will aim for higher targets of 348.95 tomorrow.

However, if INDOCO starts to trade below ₹335.35, then we will shift our focus to the sell side and aim for down targets of 327.25 and 321.75.