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

IRM ENERGY LTD

Symbol: NSE:IRMENERGY

ISIN: N/A

451.00

As on 2024-07-24

431.60 (52W Low) 641.00 (52W High)

IRMENERGY's Today's Performance

IRM ENERGY LTD started the day by opening at 447.00 today 2024-07-24. Its shares reached a high of 455.50 and dipped to a low of 447.00 in intraday. When the markets closed, IRMENERGY’s stock price settled at ₹451.00 per share. Also check out its key support and resistance levels.

IRMENERGY Buy/Sell Targets

Tomorrow, buy IRMENERGY when its price reaches ₹ 451.00 with a stop-loss order at ₹ 445.00. You can set the target price as ₹ 457.00 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 IRMENERGY 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 IRMENERGY

Downside Targets Value in ₹
Tomorrow Down Target 1 455
Tomorrow Down Target 2 460
Tomorrow Down Target 3 464

Important Levels for IRMENERGY

Holding Levels Value in ₹
Tomorrow Up Target 1 447
Tomorrow Up Target 2 443
Tomorrow Up Target 3 438
Based on where the stock opens tomorrow, if IRMENERGY opens on a positive note, our first target will be ₹455. If Target 1 is achieved, we will aim for Target 2 which is ₹460.

But if IRMENERGY falls below the average value of ₹451.17, you can enter a sell side position with target number 1 - ₹447 and second target - ₹443 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 IRMENERGY

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

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

Tomorrow's Volume based share price Forecast for IRMENERGY

IRMENERGY's Volume is currently in a Decreasing 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 373%.

Reversal detection for IRMENERGY

Predicted trend chart of IRMENERGY tomorrow for price forecast
IRMENERGY may trend may continue to be bullish since stock is making higher highs and we can get target of ₹446 in morning tomorrow
Target 1 tomorrow454
Target 2 tomorrow456
Target 3 tomorrow460
 

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 IRMENERGY'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 IRMENERGY opens on a positive note, our first target will be ₹455.33. If Target 1 is achieved, we will aim for Target 2 which is ₹459.67.

But if IRMENERGY falls below the average value of ₹451.17, you can enter a sell side position with target number 1 - ₹446.83 and second target - ₹442.67

IRMENERGY's Weekly Targets
1st Up Target 459.32
2nd Up Target 467.63
1st Down Target 439.37
2nd Down Target 427.73

As the week for IRMENERGY ended on bullish sentiments, we can expect further continuation of this sentiment. IRMENERGY's initial target will be 459.32 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 439.37 in the upcoming week.

Weekly OHLC Values
Open 450.50
High 456.00
Low 436.05
Close 451.00

Week for IRMENERGY started with an open price of 450.50, and the close was at 451.00. IRMENERGY reached the highest of 456.00 and dipped lowest up to 436.05 last week. This indicates a bullish sentiment for the week.

IRMENERGY full month swing targets
Monthly Up Target 1 479.27
Monthly Up Target 2 487.58
Monthly Down Target 1 419.42
Monthly Down Target 2 387.83

Targets of ₹479.27 can be expected to be reached in the coming month. Once IRMENERGY achieved this target, we can aim for the next upside target of ₹487.58.

IRMENERGY if fails to hold upside, down targets of ₹419.42 and ₹387.83 can be achieved by end of this month.

For complete three weeks if IRMENERGY 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 IRMENERGY

Symbol Name Industry
NTPC NTPC Limited Utilities - Regulated Electric
ADANIGREEN Adani Green Energy Limited Utilities - Renewable
POWERGRID Power Grid Corporation of India Limited Utilities - Regulated Electric
ADANIPOWER Adani Power Limited Utilities - Independent Power Producers
TATAPOWER Tata Power Company Limited Utilities - Independent Power Producers

Summary

IRMENERGY is expected to reach the target of 455.33 in tomorrow's trading session.

After achieving the initial target in IRMENERGY, we will aim for higher targets of 459.67 tomorrow.

However, if IRMENERGY starts to trade below ₹451.17, then we will shift our focus to the sell side and aim for down targets of 446.83 and 442.67.