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

Jindal Steel & Power Limited

Symbol: NSE:JINDALSTEL

ISIN: INE749A01030

952.80

As on 2024-07-23

581.60 (52W Low) 1,097.00 (52W High)

JINDALSTEL's Today's Performance

Jindal Steel & Power Limited started the day by opening at 955.20 today 2024-07-23. Its shares reached a high of 961.60 and dipped to a low of 927.25 in intraday. When the markets closed, JINDALSTEL’s stock price settled at ₹952.80 per share. Also check out its key support and resistance levels.

JINDALSTEL Buy/Sell Targets

Tomorrow, buy JINDALSTEL when its price reaches ₹ 952.80 with a stop-loss order at ₹ 935.20. You can set the target price as ₹ 970.40 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 JINDALSTEL 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 JINDALSTEL

Downside Targets Value in ₹
Tomorrow Down Target 1 967
Tomorrow Down Target 2 982
Tomorrow Down Target 3 1,002

Important Levels for JINDALSTEL

Holding Levels Value in ₹
Tomorrow Up Target 1 933
Tomorrow Up Target 2 913
Tomorrow Up Target 3 898
Based on where the stock opens tomorrow, if JINDALSTEL opens on a positive note, our first target will be ₹967. If Target 1 is achieved, we will aim for Target 2 which is ₹982.

But if JINDALSTEL falls below the average value of ₹947.22, you can enter a sell side position with target number 1 - ₹933 and second target - ₹913 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 JINDALSTEL

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

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

Tomorrow's Volume based share price Forecast for JINDALSTEL

JINDALSTEL'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 36%.

Reversal detection for JINDALSTEL

Predicted trend chart of JINDALSTEL tomorrow for price forecast
JINDALSTEL may trend may continue to be bullish since stock is making higher highs and we can get target of ₹947 in morning tomorrow
Target 1 tomorrow960
Target 2 tomorrow968
Target 3 tomorrow982
 

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 JINDALSTEL'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 JINDALSTEL opens on a positive note, our first target will be ₹967.18. If Target 1 is achieved, we will aim for Target 2 which is ₹981.57.

But if JINDALSTEL falls below the average value of ₹947.22, you can enter a sell side position with target number 1 - ₹932.83 and second target - ₹912.87

JINDALSTEL's Weekly Targets
1st Up Target 967.18
2nd Up Target 981.57
1st Down Target 932.83
2nd Down Target 912.87

As the week for JINDALSTEL ended on bullish sentiments, we can expect further continuation of this sentiment. JINDALSTEL's initial target will be 967.18 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 932.83 in the upcoming week.

Weekly OHLC Values
Open 942.00
High 961.60
Low 927.25
Close 952.80

Week for JINDALSTEL started with an open price of 942.00, and the close was at 952.80. JINDALSTEL reached the highest of 961.60 and dipped lowest up to 927.25 last week. This indicates a bullish sentiment for the week.

JINDALSTEL full month swing targets
Monthly Up Target 1 1,001.53
Monthly Up Target 2 1,015.92
Monthly Down Target 1 898.48
Monthly Down Target 2 844.17

Targets of ₹1,001.53 can be expected to be reached in the coming month. Once JINDALSTEL achieved this target, we can aim for the next upside target of ₹1,015.92.

JINDALSTEL if fails to hold upside, down targets of ₹898.48 and ₹844.17 can be achieved by end of this month.

For complete three weeks if JINDALSTEL 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 JINDALSTEL

Symbol Name Industry
ULTRACEMCO UltraTech Cement Limited Building Materials
ASIANPAINT Asian Paints Limited Specialty Chemicals
JSWSTEEL JSW Steel Limited Steel
TATASTEEL Tata Steel Limited Steel
GRASIM Grasim Industries Limited Building Materials

Summary

JINDALSTEL is expected to reach the target of 967.18 in tomorrow's trading session.

After achieving the initial target in JINDALSTEL, we will aim for higher targets of 981.57 tomorrow.

However, if JINDALSTEL starts to trade below ₹947.22, then we will shift our focus to the sell side and aim for down targets of 932.83 and 912.87.