Price and trend forecast of INDRAMEDCO for Tomorrow, Weekly, Monthly
Indraprastha Medical Corporation Limited
Symbol: NSE:INDRAMEDCO
ISIN: INE681B01017
458.75
As on 2024-09-20
INDRAMEDCO's Today's Performance
Indraprastha Medical Corporation Limited started the day by opening at 466.00 today 2024-09-20. Its shares reached a high of 466.00 and dipped to a low of 449.45 in intraday. When the markets closed, INDRAMEDCO’s stock price settled at ₹458.75 per share. Also check out its key support and resistance levels.
INDRAMEDCO Buy/Sell Targets
Tomorrow, buy INDRAMEDCO when its price reaches ₹ 458.75 with a stop-loss order at ₹ 448.81. You can set the target price as ₹ 468.69 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 INDRAMEDCO 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 INDRAMEDCO
| Downside Targets | Value in ₹ |
|---|---|
| Tomorrow Down Target 1 | 467 |
| Tomorrow Down Target 2 | 475 |
| Tomorrow Down Target 3 | 483 |
Important Levels for INDRAMEDCO
| Holding Levels | Value in ₹ |
|---|---|
| Tomorrow Up Target 1 | 450 |
| Tomorrow Up Target 2 | 442 |
| Tomorrow Up Target 3 | 434 |
Based on where the stock opens tomorrow, if INDRAMEDCO opens on a positive note, our first target will be ₹467. If Target 1 is achieved, we will aim for Target 2 which is ₹475.
But if INDRAMEDCO falls below the average value of ₹458.07, you can enter a sell side position with target number 1 - ₹450 and second target - ₹442 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 INDRAMEDCO
Looking at INDRAMEDCO, 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, INDRAMEDCO has been on a Upward path, giving us insights how its value changes in the market.
Based on this, the predicted sentiment for INDRAMEDCO is moderate bullish.
Tomorrow's Volume based share price Forecast for INDRAMEDCO
INDRAMEDCO'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 -50%.
Reversal detection for INDRAMEDCO
INDRAMEDCO may trend may continue to be bullish since stock is making higher highs and we can get target of ₹450 in morning tomorrow
| Target 1 tomorrow | 464 |
| Target 2 tomorrow | 468 |
| Target 3 tomorrow | 475 |
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 INDRAMEDCO'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 INDRAMEDCO opens on a positive note, our first target will be ₹466.68. If Target 1 is achieved, we will aim for Target 2 which is ₹474.62.
But if INDRAMEDCO falls below the average value of ₹458.07, you can enter a sell side position with target number 1 - ₹450.13 and second target - ₹441.52
INDRAMEDCO's Weekly Targets
| 1st Up Target | 482.50 |
| 2nd Up Target | 506.25 |
| 1st Down Target | 435.30 |
| 2nd Down Target | 411.85 |
As the week for INDRAMEDCO ended on bearish sentiments, we can expect further continuation of this sentiment. INDRAMEDCO's initial target will be 482.50 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 435.30 in the upcoming week.
Weekly OHLC Values
| Open | 479.40 |
| High | 482.80 |
| Low | 435.60 |
| Close | 458.75 |
Week for INDRAMEDCO started with an open price of 479.40, and the close was at 458.75. INDRAMEDCO reached the highest of 482.80 and dipped lowest up to 435.60 last week. This indicates a bearish sentiment for the week.
INDRAMEDCO full month swing targets
| Monthly Up Target 1 | 529.70 |
| Monthly Up Target 2 | 553.45 |
| Monthly Down Target 1 | 388.10 |
| Monthly Down Target 2 | 317.45 |
Targets of ₹529.70 can be expected to be reached in the coming month. Once INDRAMEDCO achieved this target, we can aim for the next upside target of ₹553.45.
INDRAMEDCO if fails to hold upside, down targets of ₹388.10 and ₹317.45 can be achieved by end of this month.
For complete three weeks if INDRAMEDCO 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 INDRAMEDCO
| 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
INDRAMEDCO is expected to reach the target of 466.68 in tomorrow's trading session.
After achieving the initial target in INDRAMEDCO, we will aim for higher targets of 474.62 tomorrow.
However, if INDRAMEDCO starts to trade below ₹458.07, then we will shift our focus to the sell side and aim for down targets of 450.13 and 441.52.