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

ITI Limited

Symbol: NSE:ITI

ISIN: INE248A01017

262.80

As on 2024-04-12

90.00 (52W Low) 384.30 (52W High)

ITI's Today's Performance

ITI Limited started the day by opening at 268.20 today 2024-04-12. Its shares reached a high of 269.90 and dipped to a low of 261.40 in intraday. When the markets closed, ITI’s stock price settled at ₹262.80 per share. Also check out its key support and resistance levels.

ITI Buy/Sell Targets

Tomorrow, sell ITI when its price reaches ₹ 262.80 with a stop-loss order at ₹ 267.91. You can set the target price as ₹ 257.69 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 ITI 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 ITI

Resistance Levels Value in ₹
Tomorrow Resistance 1 268
Tomorrow Resistance 2 273
Tomorrow Resistance 3 277

Important Supports for ITI

Support Levels Value in ₹
Tomorrow Support 1 260
Tomorrow Support 2 256
Tomorrow Support 3 251
Based on where the stock opens tomorrow, if ITI opens on a positive note, our first target will be ₹268. If Target 1 is achieved, we will aim for Target 2 which is ₹273.

But if ITI falls below the average value of ₹264.70, you can enter a sell side position with target number 1 - ₹260 and second target - ₹256 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 ITI

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

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

Tomorrow's Volume based share price Forecast for ITI

ITI'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 -71%.

Reversal detection for ITI

Predicted trend chart of ITI tomorrow for price forecast
ITI may trend may continue to be bearish since stock is making lower low and we can get target of ₹270 in morning tomorrow
Target 1 tomorrow268
Target 2 tomorrow270
Target 3 tomorrow273
 

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 ITI'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 ITI opens on a positive note, our first target will be ₹268.00. If Target 1 is achieved, we will aim for Target 2 which is ₹273.20.

But if ITI falls below the average value of ₹264.70, you can enter a sell side position with target number 1 - ₹259.50 and second target - ₹256.20

ITI's Weekly Targets
1st Up Target 273.60
2nd Up Target 284.40
1st Down Target 256.70
2nd Down Target 250.60

As the week for ITI ended on bearish sentiments, we can expect further continuation of this sentiment. ITI's initial target will be 273.60 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 256.70 in the upcoming week.

Weekly OHLC Values
Open 277.20
High 278.30
Low 261.40
Close 262.80

Week for ITI started with an open price of 277.20, and the close was at 262.80. ITI reached the highest of 278.30 and dipped lowest up to 261.40 last week. This indicates a bearish sentiment for the week.

ITI full month swing targets
Monthly Up Target 1 290.50
Monthly Up Target 2 301.30
Monthly Down Target 1 239.80
Monthly Down Target 2 216.80

Targets of ₹290.50 can be expected to be reached in the coming month. Once ITI achieved this target, we can aim for the next upside target of ₹301.30.

ITI if fails to hold upside, down targets of ₹239.80 and ₹216.80 can be achieved by end of this month.

For complete three weeks if ITI 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

ITI is expected to reach the target of 268.00 in tomorrow's trading session.

After achieving the initial target in ITI, we will aim for higher targets of 273.20 tomorrow.

However, if ITI starts to trade below ₹264.70, then we will shift our focus to the sell side and aim for down targets of 259.50 and 256.20.