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

Kalyani Steels Limited

Symbol: NSE:KSL

ISIN: INE907A01026

897.40

As on 2024-04-12

308.00 (52W Low) 1,074.70 (52W High)

KSL's Today's Performance

Kalyani Steels Limited started the day by opening at 895.00 today 2024-04-12. Its shares reached a high of 915.05 and dipped to a low of 888.00 in intraday. When the markets closed, KSL’s stock price settled at ₹897.40 per share. Also check out its key support and resistance levels.

KSL Buy/Sell Targets

Tomorrow, sell KSL when its price reaches ₹ 897.40 with a stop-loss order at ₹ 916.97. You can set the target price as ₹ 877.83 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 KSL 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 KSL

Resistance Levels Value in ₹
Tomorrow Resistance 1 912
Tomorrow Resistance 2 927
Tomorrow Resistance 3 939

Important Supports for KSL

Support Levels Value in ₹
Tomorrow Support 1 885
Tomorrow Support 2 873
Tomorrow Support 3 858
Based on where the stock opens tomorrow, if KSL opens on a positive note, our first target will be ₹912. If Target 1 is achieved, we will aim for Target 2 which is ₹927.

But if KSL falls below the average value of ₹900.15, you can enter a sell side position with target number 1 - ₹885 and second target - ₹873 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 KSL

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

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

Tomorrow's Volume based share price Forecast for KSL

KSL'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 97%.

Reversal detection for KSL

Predicted trend chart of KSL tomorrow for price forecast
KSL may trend may continue to be bearish since stock is making lower low and we can get target of ₹899 in morning tomorrow
Target 1 tomorrow910
Target 2 tomorrow917
Target 3 tomorrow927
 

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 KSL'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 KSL opens on a positive note, our first target will be ₹912.30. If Target 1 is achieved, we will aim for Target 2 which is ₹927.20.

But if KSL falls below the average value of ₹900.15, you can enter a sell side position with target number 1 - ₹885.25 and second target - ₹873.10

KSL's Weekly Targets
1st Up Target 958.83
2nd Up Target 1,020.27
1st Down Target 849.13
2nd Down Target 800.87

As the week for KSL ended on bearish sentiments, we can expect further continuation of this sentiment. KSL's initial target will be 958.83 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 849.13 in the upcoming week.

Weekly OHLC Values
Open 950.05
High 972.00
Low 862.30
Close 897.40

Week for KSL started with an open price of 950.05, and the close was at 897.40. KSL reached the highest of 972.00 and dipped lowest up to 862.30 last week. This indicates a bearish sentiment for the week.

KSL full month swing targets
Monthly Up Target 1 1,068.53
Monthly Up Target 2 1,129.97
Monthly Down Target 1 739.43
Monthly Down Target 2 581.47

Targets of ₹1,068.53 can be expected to be reached in the coming month. Once KSL achieved this target, we can aim for the next upside target of ₹1,129.97.

KSL if fails to hold upside, down targets of ₹739.43 and ₹581.47 can be achieved by end of this month.

For complete three weeks if KSL 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 KSL

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JSWSTEEL JSW Steel Limited Steel
TATASTEEL Tata Steel Limited Steel
GRASIM Grasim Industries Limited Building Materials

Summary

KSL is expected to reach the target of 912.30 in tomorrow's trading session.

After achieving the initial target in KSL, we will aim for higher targets of 927.20 tomorrow.

However, if KSL starts to trade below ₹900.15, then we will shift our focus to the sell side and aim for down targets of 885.25 and 873.10.