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

ITD Cementation India Limited

Symbol: NSE:ITDCEM

ISIN: INE686A01026

357.15

As on 2024-04-16

108.00 (52W Low) 374.95 (52W High)

ITDCEM's Today's Performance

ITD Cementation India Limited started the day by opening at 339.60 today 2024-04-16. Its shares reached a high of 360.50 and dipped to a low of 330.00 in intraday. When the markets closed, ITDCEM’s stock price settled at ₹357.15 per share. Also check out its key support and resistance levels.

ITDCEM Buy/Sell Targets

Tomorrow, buy ITDCEM when its price reaches ₹ 357.15 with a stop-loss order at ₹ 346.86. You can set the target price as ₹ 367.44 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 ITDCEM 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 ITDCEM

Resistance Levels Value in ₹
Tomorrow Resistance 1 368
Tomorrow Resistance 2 380
Tomorrow Resistance 3 399

Important Supports for ITDCEM

Support Levels Value in ₹
Tomorrow Support 1 338
Tomorrow Support 2 319
Tomorrow Support 3 307
Based on where the stock opens tomorrow, if ITDCEM opens on a positive note, our first target will be ₹368. If Target 1 is achieved, we will aim for Target 2 which is ₹380.

But if ITDCEM falls below the average value of ₹349.22, you can enter a sell side position with target number 1 - ₹338 and second target - ₹319 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 ITDCEM

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

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

Tomorrow's Volume based share price Forecast for ITDCEM

ITDCEM'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 ITDCEM

Predicted trend chart of ITDCEM tomorrow for price forecast
ITDCEM may reverse its trend from upside (Short term bearish outlook) and we can get target of ₹333 in morning tomorrow
Target 1 tomorrow361
Target 2 tomorrow368
Target 3 tomorrow380
 

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 ITDCEM'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 ITDCEM opens on a positive note, our first target will be ₹368.43. If Target 1 is achieved, we will aim for Target 2 which is ₹379.72.

But if ITDCEM falls below the average value of ₹349.22, you can enter a sell side position with target number 1 - ₹337.93 and second target - ₹318.72

ITDCEM's Weekly Targets
1st Up Target 371.55
2nd Up Target 385.95
1st Down Target 331.70
2nd Down Target 306.25

As the week for ITDCEM ended on bullish sentiments, we can expect further continuation of this sentiment. ITDCEM's initial target will be 371.55 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 331.70 in the upcoming week.

Weekly OHLC Values
Open 324.40
High 360.50
Low 320.65
Close 357.15

Week for ITDCEM started with an open price of 324.40, and the close was at 357.15. ITDCEM reached the highest of 360.50 and dipped lowest up to 320.65 last week. This indicates a bullish sentiment for the week.

ITDCEM full month swing targets
Monthly Up Target 1 411.40
Monthly Up Target 2 425.80
Monthly Down Target 1 291.85
Monthly Down Target 2 226.55

Targets of ₹411.40 can be expected to be reached in the coming month. Once ITDCEM achieved this target, we can aim for the next upside target of ₹425.80.

ITDCEM if fails to hold upside, down targets of ₹291.85 and ₹226.55 can be achieved by end of this month.

For complete three weeks if ITDCEM 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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Summary

ITDCEM is expected to reach the target of 368.43 in tomorrow's trading session.

After achieving the initial target in ITDCEM, we will aim for higher targets of 379.72 tomorrow.

However, if ITDCEM starts to trade below ₹349.22, then we will shift our focus to the sell side and aim for down targets of 337.93 and 318.72.