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

Nandan Denim Limited

Symbol: NSE:NDL

ISIN: INE875G01030

43.30

As on 2024-04-19

18.50 (52W Low) 48.60 (52W High)

NDL's Today's Performance

Nandan Denim Limited started the day by opening at 43.50 today 2024-04-19. Its shares reached a high of 46.05 and dipped to a low of 42.65 in intraday. When the markets closed, NDL’s stock price settled at ₹43.30 per share. Also check out its key support and resistance levels.

NDL Buy/Sell Targets

Tomorrow, sell NDL when its price reaches ₹ 43.30 with a stop-loss order at ₹ 45.02. You can set the target price as ₹ 41.58 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 NDL 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 NDL

Downside Targets Value in ₹
Tomorrow Down Target 1 45
Tomorrow Down Target 2 47
Tomorrow Down Target 3 49

Important Levels for NDL

Holding Levels Value in ₹
Tomorrow Up Target 1 42
Tomorrow Up Target 2 41
Tomorrow Up Target 3 39
Based on where the stock opens tomorrow, if NDL opens on a positive note, our first target will be ₹45. If Target 1 is achieved, we will aim for Target 2 which is ₹47.

But if NDL falls below the average value of ₹44.00, you can enter a sell side position with target number 1 - ₹42 and second target - ₹41 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 NDL

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

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

Tomorrow's Volume based share price Forecast for NDL

NDL'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 NDL

Predicted trend chart of NDL tomorrow for price forecast
NDL may trend may continue to be bearish since stock is making lower low and we can get target of ₹46 in morning tomorrow
Target 1 tomorrow45
Target 2 tomorrow46
Target 3 tomorrow47
 

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 NDL'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 NDL opens on a positive note, our first target will be ₹45.35. If Target 1 is achieved, we will aim for Target 2 which is ₹47.40.

But if NDL falls below the average value of ₹44.00, you can enter a sell side position with target number 1 - ₹41.95 and second target - ₹40.60

NDL's Weekly Targets
1st Up Target 47.40
2nd Up Target 51.50
1st Down Target 40.40
2nd Down Target 37.50

As the week for NDL ended on bearish sentiments, we can expect further continuation of this sentiment. NDL's initial target will be 47.40 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 40.40 in the upcoming week.

Weekly OHLC Values
Open 43.65
High 48.60
Low 41.60
Close 43.30

Week for NDL started with an open price of 43.65, and the close was at 43.30. NDL reached the highest of 48.60 and dipped lowest up to 41.60 last week. This indicates a bearish sentiment for the week.

NDL full month swing targets
Monthly Up Target 1 54.40
Monthly Up Target 2 58.50
Monthly Down Target 1 33.40
Monthly Down Target 2 23.50

Targets of ₹54.40 can be expected to be reached in the coming month. Once NDL achieved this target, we can aim for the next upside target of ₹58.50.

NDL if fails to hold upside, down targets of ₹33.40 and ₹23.50 can be achieved by end of this month.

For complete three weeks if NDL 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

NDL is expected to reach the target of 45.35 in tomorrow's trading session.

After achieving the initial target in NDL, we will aim for higher targets of 47.40 tomorrow.

However, if NDL starts to trade below ₹44.00, then we will shift our focus to the sell side and aim for down targets of 41.95 and 40.60.