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

Lumax Auto Technologies Limited

Symbol: NSE:LUMAXTECH

ISIN: INE872H01027

491.80

As on 2024-05-27

296.00 (52W Low) 515.00 (52W High)

LUMAXTECH's Today's Performance

Lumax Auto Technologies Limited started the day by opening at 492.00 today 2024-05-27. Its shares reached a high of 503.00 and dipped to a low of 489.30 in intraday. When the markets closed, LUMAXTECH’s stock price settled at ₹491.80 per share. Also check out its key support and resistance levels.

LUMAXTECH Buy/Sell Targets

Tomorrow, buy LUMAXTECH when its price reaches ₹ 491.80 with a stop-loss order at ₹ 482.08. You can set the target price as ₹ 501.52 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 LUMAXTECH 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 LUMAXTECH

Downside Targets Value in ₹
Tomorrow Down Target 1 500
Tomorrow Down Target 2 508
Tomorrow Down Target 3 514

Important Levels for LUMAXTECH

Holding Levels Value in ₹
Tomorrow Up Target 1 486
Tomorrow Up Target 2 481
Tomorrow Up Target 3 473
Based on where the stock opens tomorrow, if LUMAXTECH opens on a positive note, our first target will be ₹500. If Target 1 is achieved, we will aim for Target 2 which is ₹508.

But if LUMAXTECH falls below the average value of ₹494.70, you can enter a sell side position with target number 1 - ₹486 and second target - ₹481 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 LUMAXTECH

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

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

Tomorrow's Volume based share price Forecast for LUMAXTECH

LUMAXTECH'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 -19%.

Reversal detection for LUMAXTECH

Predicted trend chart of LUMAXTECH tomorrow for price forecast
LUMAXTECH may trend may continue to be bullish since stock is making higher highs and we can get target of ₹489 in morning tomorrow
Target 1 tomorrow500
Target 2 tomorrow503
Target 3 tomorrow508
 

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 LUMAXTECH'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 LUMAXTECH opens on a positive note, our first target will be ₹500.10. If Target 1 is achieved, we will aim for Target 2 which is ₹508.40.

But if LUMAXTECH falls below the average value of ₹494.70, you can enter a sell side position with target number 1 - ₹486.40 and second target - ₹481.00

LUMAXTECH's Weekly Targets
1st Up Target 500.10
2nd Up Target 508.40
1st Down Target 486.40
2nd Down Target 481.00

As the week for LUMAXTECH ended on bearish sentiments, we can expect further continuation of this sentiment. LUMAXTECH's initial target will be 500.10 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 486.40 in the upcoming week.

Weekly OHLC Values
Open 492.00
High 503.00
Low 489.30
Close 491.80

Week for LUMAXTECH started with an open price of 492.00, and the close was at 491.80. LUMAXTECH reached the highest of 503.00 and dipped lowest up to 489.30 last week. This indicates a bearish sentiment for the week.

LUMAXTECH full month swing targets
Monthly Up Target 1 513.80
Monthly Up Target 2 522.10
Monthly Down Target 1 472.70
Monthly Down Target 2 453.60

Targets of ₹513.80 can be expected to be reached in the coming month. Once LUMAXTECH achieved this target, we can aim for the next upside target of ₹522.10.

LUMAXTECH if fails to hold upside, down targets of ₹472.70 and ₹453.60 can be achieved by end of this month.

For complete three weeks if LUMAXTECH 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 LUMAXTECH

Symbol Name Industry
MARUTI Maruti Suzuki India Limited Auto Manufacturers
TATAMTRDVR Tata Motors Limited Auto Manufacturers
TATAMOTORS Tata Motors Limited Auto Manufacturers
TITAN Titan Company Limited Luxury Goods
BAJAJ-AUTO Bajaj Auto Limited Auto Manufacturers

Summary

LUMAXTECH is expected to reach the target of 500.10 in tomorrow's trading session.

After achieving the initial target in LUMAXTECH, we will aim for higher targets of 508.40 tomorrow.

However, if LUMAXTECH starts to trade below ₹494.70, then we will shift our focus to the sell side and aim for down targets of 486.40 and 481.00.