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

Kanoria Chemicals & Industries Limited

Symbol: NSE:KANORICHEM

ISIN: INE138C01024

130.85

As on 2024-04-12

100.00 (52W Low) 157.00 (52W High)

KANORICHEM's Today's Performance

Kanoria Chemicals & Industries Limited started the day by opening at 124.65 today 2024-04-12. Its shares reached a high of 138.50 and dipped to a low of 122.55 in intraday. When the markets closed, KANORICHEM’s stock price settled at ₹130.85 per share. Also check out its key support and resistance levels.

KANORICHEM Buy/Sell Targets

Tomorrow, buy KANORICHEM when its price reaches ₹ 130.85 with a stop-loss order at ₹ 125.78. You can set the target price as ₹ 135.92 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 KANORICHEM 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 KANORICHEM

Resistance Levels Value in ₹
Tomorrow Resistance 1 139
Tomorrow Resistance 2 147
Tomorrow Resistance 3 155

Important Supports for KANORICHEM

Support Levels Value in ₹
Tomorrow Support 1 123
Tomorrow Support 2 115
Tomorrow Support 3 107
Based on where the stock opens tomorrow, if KANORICHEM opens on a positive note, our first target will be ₹139. If Target 1 is achieved, we will aim for Target 2 which is ₹147.

But if KANORICHEM falls below the average value of ₹130.63, you can enter a sell side position with target number 1 - ₹123 and second target - ₹115 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 KANORICHEM

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

Based on this, the predicted sentiment for KANORICHEM is strong bullish.

Tomorrow's Volume based share price Forecast for KANORICHEM

KANORICHEM's Volume is currently in a Increasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a strong bullish trend. Volume trend strength over the last month compared to the last week is 286%.

Reversal detection for KANORICHEM

Predicted trend chart of KANORICHEM tomorrow for price forecast
KANORICHEM may reverse its trend from upside (Short term bearish outlook) and we can get target of ₹125 in morning tomorrow
Target 1 tomorrow137
Target 2 tomorrow140
Target 3 tomorrow147
 

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 KANORICHEM'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 KANORICHEM opens on a positive note, our first target will be ₹138.72. If Target 1 is achieved, we will aim for Target 2 which is ₹146.58.

But if KANORICHEM falls below the average value of ₹130.63, you can enter a sell side position with target number 1 - ₹122.77 and second target - ₹114.68

KANORICHEM's Weekly Targets
1st Up Target 140.30
2nd Up Target 149.75
1st Down Target 119.60
2nd Down Target 108.35

As the week for KANORICHEM ended on bullish sentiments, we can expect further continuation of this sentiment. KANORICHEM's initial target will be 140.30 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 119.60 in the upcoming week.

Weekly OHLC Values
Open 117.95
High 138.50
Low 117.80
Close 130.85

Week for KANORICHEM started with an open price of 117.95, and the close was at 130.85. KANORICHEM reached the highest of 138.50 and dipped lowest up to 117.80 last week. This indicates a bullish sentiment for the week.

KANORICHEM full month swing targets
Monthly Up Target 1 161.00
Monthly Up Target 2 170.45
Monthly Down Target 1 98.90
Monthly Down Target 2 66.95

Targets of ₹161.00 can be expected to be reached in the coming month. Once KANORICHEM achieved this target, we can aim for the next upside target of ₹170.45.

KANORICHEM if fails to hold upside, down targets of ₹98.90 and ₹66.95 can be achieved by end of this month.

For complete three weeks if KANORICHEM 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 KANORICHEM

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ULTRACEMCO UltraTech Cement Limited Building Materials
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JSWSTEEL JSW Steel Limited Steel
TATASTEEL Tata Steel Limited Steel
GRASIM Grasim Industries Limited Building Materials

Summary

KANORICHEM is expected to reach the target of 138.72 in tomorrow's trading session.

After achieving the initial target in KANORICHEM, we will aim for higher targets of 146.58 tomorrow.

However, if KANORICHEM starts to trade below ₹130.63, then we will shift our focus to the sell side and aim for down targets of 122.77 and 114.68.