Stock Information Portal

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

IRM ENERGY LTD

Symbol: NSE:IRMENERGY

ISIN: N/A

478.10

As on 2024-04-12

435.05 (52W Low) 615.00 (52W High)

IRMENERGY's Today's Performance

IRM ENERGY LTD started the day by opening at 487.95 today 2024-04-12. Its shares reached a high of 487.95 and dipped to a low of 475.60 in intraday. When the markets closed, IRMENERGY’s stock price settled at ₹478.10 per share. Also check out its key support and resistance levels.

IRMENERGY Buy/Sell Targets

Tomorrow, sell IRMENERGY when its price reaches ₹ 478.10 with a stop-loss order at ₹ 485.48. You can set the target price as ₹ 470.73 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 IRMENERGY 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 IRMENERGY

Resistance Levels Value in ₹
Tomorrow Resistance 1 486
Tomorrow Resistance 2 493
Tomorrow Resistance 3 498

Important Supports for IRMENERGY

Support Levels Value in ₹
Tomorrow Support 1 473
Tomorrow Support 2 468
Tomorrow Support 3 461
Based on where the stock opens tomorrow, if IRMENERGY opens on a positive note, our first target will be ₹486. If Target 1 is achieved, we will aim for Target 2 which is ₹493.

But if IRMENERGY falls below the average value of ₹480.55, you can enter a sell side position with target number 1 - ₹473 and second target - ₹468 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 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, IRMENERGY has been on a Downward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for IRMENERGY is strong bearish.

Tomorrow's Volume based share price Forecast for IRMENERGY

IRMENERGY's Volume is currently in a Increasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a strong bearish trend. Volume trend strength over the last month compared to the last week is 369%.

Reversal detection for IRMENERGY

Predicted trend chart of IRMENERGY tomorrow for price forecast
IRMENERGY may trend may continue to be bearish since stock is making lower low and we can get target of ₹485 in morning tomorrow
Target 1 tomorrow485
Target 2 tomorrow488
Target 3 tomorrow493
 

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 ₹485.50. If Target 1 is achieved, we will aim for Target 2 which is ₹492.90.

But if IRMENERGY falls below the average value of ₹480.55, you can enter a sell side position with target number 1 - ₹473.15 and second target - ₹468.20

IRMENERGY's Weekly Targets
1st Up Target 497.07
2nd Up Target 516.03
1st Down Target 467.37
2nd Down Target 456.63

As the week for IRMENERGY ended on bearish sentiments, we can expect further continuation of this sentiment. IRMENERGY's initial target will be 497.07 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 467.37 in the upcoming week.

Weekly OHLC Values
Open 500.30
High 505.30
Low 475.60
Close 478.10

Week for IRMENERGY started with an open price of 500.30, and the close was at 478.10. IRMENERGY reached the highest of 505.30 and dipped lowest up to 475.60 last week. This indicates a bearish sentiment for the week.

IRMENERGY full month swing targets
Monthly Up Target 1 526.77
Monthly Up Target 2 545.73
Monthly Down Target 1 437.67
Monthly Down Target 2 397.23

Targets of ₹526.77 can be expected to be reached in the coming month. Once IRMENERGY achieved this target, we can aim for the next upside target of ₹545.73.

IRMENERGY if fails to hold upside, down targets of ₹437.67 and ₹397.23 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 485.50 in tomorrow's trading session.

After achieving the initial target in IRMENERGY, we will aim for higher targets of 492.90 tomorrow.

However, if IRMENERGY starts to trade below ₹480.55, then we will shift our focus to the sell side and aim for down targets of 473.15 and 468.20.