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

IOL Chemicals and Pharmaceuticals Limited

Symbol: NSE:IOLCP

ISIN: INE485C01011

391.20

As on 2024-04-16

350.55 (52W Low) 535.90 (52W High)

IOLCP's Today's Performance

IOL Chemicals and Pharmaceuticals Limited started the day by opening at 381.75 today 2024-04-16. Its shares reached a high of 393.60 and dipped to a low of 381.20 in intraday. When the markets closed, IOLCP’s stock price settled at ₹391.20 per share. Also check out its key support and resistance levels.

IOLCP Buy/Sell Targets

Tomorrow, buy IOLCP when its price reaches ₹ 391.20 with a stop-loss order at ₹ 384.86. You can set the target price as ₹ 397.54 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 IOLCP 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 IOLCP

Resistance Levels Value in ₹
Tomorrow Resistance 1 396
Tomorrow Resistance 2 401
Tomorrow Resistance 3 409

Important Supports for IOLCP

Support Levels Value in ₹
Tomorrow Support 1 384
Tomorrow Support 2 376
Tomorrow Support 3 371
Based on where the stock opens tomorrow, if IOLCP opens on a positive note, our first target will be ₹396. If Target 1 is achieved, we will aim for Target 2 which is ₹401.

But if IOLCP falls below the average value of ₹388.67, you can enter a sell side position with target number 1 - ₹384 and second target - ₹376 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 IOLCP

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

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

Tomorrow's Volume based share price Forecast for IOLCP

IOLCP'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 61%.

Reversal detection for IOLCP

Predicted trend chart of IOLCP tomorrow for price forecast
IOLCP may trend may continue to be bullish since stock is making higher highs and we can get target of ₹386 in morning tomorrow
Target 1 tomorrow393
Target 2 tomorrow396
Target 3 tomorrow401
 

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 IOLCP'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 IOLCP opens on a positive note, our first target will be ₹396.13. If Target 1 is achieved, we will aim for Target 2 which is ₹401.07.

But if IOLCP falls below the average value of ₹388.67, you can enter a sell side position with target number 1 - ₹383.73 and second target - ₹376.27

IOLCP's Weekly Targets
1st Up Target 396.48
2nd Up Target 401.77
1st Down Target 383.33
2nd Down Target 375.47

As the week for IOLCP ended on bullish sentiments, we can expect further continuation of this sentiment. IOLCP's initial target will be 396.48 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 383.33 in the upcoming week.

Weekly OHLC Values
Open 390.00
High 393.90
Low 380.75
Close 391.20

Week for IOLCP started with an open price of 390.00, and the close was at 391.20. IOLCP reached the highest of 393.90 and dipped lowest up to 380.75 last week. This indicates a bullish sentiment for the week.

IOLCP full month swing targets
Monthly Up Target 1 409.63
Monthly Up Target 2 414.92
Monthly Down Target 1 370.18
Monthly Down Target 2 349.17

Targets of ₹409.63 can be expected to be reached in the coming month. Once IOLCP achieved this target, we can aim for the next upside target of ₹414.92.

IOLCP if fails to hold upside, down targets of ₹370.18 and ₹349.17 can be achieved by end of this month.

For complete three weeks if IOLCP 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 IOLCP

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

IOLCP is expected to reach the target of 396.13 in tomorrow's trading session.

After achieving the initial target in IOLCP, we will aim for higher targets of 401.07 tomorrow.

However, if IOLCP starts to trade below ₹388.67, then we will shift our focus to the sell side and aim for down targets of 383.73 and 376.27.