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

Indo Rama Synthetics (India) Limited

Symbol: NSE:INDORAMA

ISIN: INE156A01020

45.40

As on 2024-04-24

36.40 (52W Low) 67.10 (52W High)

INDORAMA's Today's Performance

Indo Rama Synthetics (India) Limited started the day by opening at 46.20 today 2024-04-24. Its shares reached a high of 46.50 and dipped to a low of 45.00 in intraday. When the markets closed, INDORAMA’s stock price settled at ₹45.40 per share. Also check out its key support and resistance levels.

INDORAMA Buy/Sell Targets

Tomorrow, sell INDORAMA when its price reaches ₹ 45.40 with a stop-loss order at ₹ 46.13. You can set the target price as ₹ 44.68 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 INDORAMA 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 INDORAMA

Downside Targets Value in ₹
Tomorrow Down Target 1 46
Tomorrow Down Target 2 47
Tomorrow Down Target 3 48

Important Levels for INDORAMA

Holding Levels Value in ₹
Tomorrow Up Target 1 45
Tomorrow Up Target 2 44
Tomorrow Up Target 3 43
Based on where the stock opens tomorrow, if INDORAMA opens on a positive note, our first target will be ₹46. If Target 1 is achieved, we will aim for Target 2 which is ₹47.

But if INDORAMA falls below the average value of ₹45.63, you can enter a sell side position with target number 1 - ₹45 and second target - ₹44 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 INDORAMA

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

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

Tomorrow's Volume based share price Forecast for INDORAMA

INDORAMA'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 -19%.

Reversal detection for INDORAMA

Predicted trend chart of INDORAMA tomorrow for price forecast
INDORAMA may trend may continue to be bearish since stock is making lower low and we can get target of ₹46 in morning tomorrow
Target 1 tomorrow46
Target 2 tomorrow47
Target 3 tomorrow47
 

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 INDORAMA'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 INDORAMA opens on a positive note, our first target will be ₹46.27. If Target 1 is achieved, we will aim for Target 2 which is ₹47.13.

But if INDORAMA falls below the average value of ₹45.63, you can enter a sell side position with target number 1 - ₹44.77 and second target - ₹44.13

INDORAMA's Weekly Targets
1st Up Target 46.58
2nd Up Target 47.77
1st Down Target 44.13
2nd Down Target 42.87

As the week for INDORAMA ended on bullish sentiments, we can expect further continuation of this sentiment. INDORAMA's initial target will be 46.58 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 44.13 in the upcoming week.

Weekly OHLC Values
Open 44.05
High 46.50
Low 44.05
Close 45.40

Week for INDORAMA started with an open price of 44.05, and the close was at 45.40. INDORAMA reached the highest of 46.50 and dipped lowest up to 44.05 last week. This indicates a bullish sentiment for the week.

INDORAMA full month swing targets
Monthly Up Target 1 49.03
Monthly Up Target 2 50.22
Monthly Down Target 1 41.68
Monthly Down Target 2 37.97

Targets of ₹49.03 can be expected to be reached in the coming month. Once INDORAMA achieved this target, we can aim for the next upside target of ₹50.22.

INDORAMA if fails to hold upside, down targets of ₹41.68 and ₹37.97 can be achieved by end of this month.

For complete three weeks if INDORAMA 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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BAJAJ-AUTO Bajaj Auto Limited Auto Manufacturers

Summary

INDORAMA is expected to reach the target of 46.27 in tomorrow's trading session.

After achieving the initial target in INDORAMA, we will aim for higher targets of 47.13 tomorrow.

However, if INDORAMA starts to trade below ₹45.63, then we will shift our focus to the sell side and aim for down targets of 44.77 and 44.13.