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

Mangalore Chemicals & Fertilizers Limited

Symbol: NSE:MANGCHEFER

ISIN: INE558B01017

121.00

As on 2024-04-16

89.65 (52W Low) 156.10 (52W High)

MANGCHEFER's Today's Performance

Mangalore Chemicals & Fertilizers Limited started the day by opening at 115.70 today 2024-04-16. Its shares reached a high of 121.70 and dipped to a low of 115.70 in intraday. When the markets closed, MANGCHEFER’s stock price settled at ₹121.00 per share. Also check out its key support and resistance levels.

MANGCHEFER Buy/Sell Targets

Tomorrow, buy MANGCHEFER when its price reaches ₹ 121.00 with a stop-loss order at ₹ 117.79. You can set the target price as ₹ 124.21 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 MANGCHEFER 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 MANGCHEFER

Resistance Levels Value in ₹
Tomorrow Resistance 1 123
Tomorrow Resistance 2 125
Tomorrow Resistance 3 129

Important Supports for MANGCHEFER

Support Levels Value in ₹
Tomorrow Support 1 117
Tomorrow Support 2 113
Tomorrow Support 3 111
Based on where the stock opens tomorrow, if MANGCHEFER opens on a positive note, our first target will be ₹123. If Target 1 is achieved, we will aim for Target 2 which is ₹125.

But if MANGCHEFER falls below the average value of ₹119.47, you can enter a sell side position with target number 1 - ₹117 and second target - ₹113 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 MANGCHEFER

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

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

Tomorrow's Volume based share price Forecast for MANGCHEFER

MANGCHEFER's Volume is currently in a Decreasing 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 -18%.

Reversal detection for MANGCHEFER

Predicted trend chart of MANGCHEFER tomorrow for price forecast
MANGCHEFER may reverse its trend from upside (Short term bearish outlook) and we can get target of ₹116 in morning tomorrow
Target 1 tomorrow122
Target 2 tomorrow123
Target 3 tomorrow125
 

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 MANGCHEFER'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 MANGCHEFER opens on a positive note, our first target will be ₹123.23. If Target 1 is achieved, we will aim for Target 2 which is ₹125.47.

But if MANGCHEFER falls below the average value of ₹119.47, you can enter a sell side position with target number 1 - ₹117.23 and second target - ₹113.47

MANGCHEFER's Weekly Targets
1st Up Target 124.28
2nd Up Target 127.57
1st Down Target 115.13
2nd Down Target 109.27

As the week for MANGCHEFER ended on bullish sentiments, we can expect further continuation of this sentiment. MANGCHEFER's initial target will be 124.28 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 115.13 in the upcoming week.

Weekly OHLC Values
Open 114.00
High 121.70
Low 112.55
Close 121.00

Week for MANGCHEFER started with an open price of 114.00, and the close was at 121.00. MANGCHEFER reached the highest of 121.70 and dipped lowest up to 112.55 last week. This indicates a bullish sentiment for the week.

MANGCHEFER full month swing targets
Monthly Up Target 1 133.43
Monthly Up Target 2 136.72
Monthly Down Target 1 105.98
Monthly Down Target 2 90.97

Targets of ₹133.43 can be expected to be reached in the coming month. Once MANGCHEFER achieved this target, we can aim for the next upside target of ₹136.72.

MANGCHEFER if fails to hold upside, down targets of ₹105.98 and ₹90.97 can be achieved by end of this month.

For complete three weeks if MANGCHEFER 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

MANGCHEFER is expected to reach the target of 123.23 in tomorrow's trading session.

After achieving the initial target in MANGCHEFER, we will aim for higher targets of 125.47 tomorrow.

However, if MANGCHEFER starts to trade below ₹119.47, then we will shift our focus to the sell side and aim for down targets of 117.23 and 113.47.