Stock Information Portal

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

NMDC Steel Limited

Symbol: NSE:NSLNISP

ISIN: INE0NNS01018

63.90

As on 2024-04-12

31.10 (52W Low) 73.70 (52W High)

NSLNISP's Today's Performance

NMDC Steel Limited started the day by opening at 65.80 today 2024-04-12. Its shares reached a high of 67.90 and dipped to a low of 63.45 in intraday. When the markets closed, NSLNISP’s stock price settled at ₹63.90 per share. Also check out its key support and resistance levels.

NSLNISP Buy/Sell Targets

Tomorrow, sell NSLNISP when its price reaches ₹ 63.90 with a stop-loss order at ₹ 65.88. You can set the target price as ₹ 61.92 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 NSLNISP 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 NSLNISP

Resistance Levels Value in ₹
Tomorrow Resistance 1 67
Tomorrow Resistance 2 70
Tomorrow Resistance 3 71

Important Supports for NSLNISP

Support Levels Value in ₹
Tomorrow Support 1 62
Tomorrow Support 2 61
Tomorrow Support 3 58
Based on where the stock opens tomorrow, if NSLNISP opens on a positive note, our first target will be ₹67. If Target 1 is achieved, we will aim for Target 2 which is ₹70.

But if NSLNISP falls below the average value of ₹65.08, you can enter a sell side position with target number 1 - ₹62 and second target - ₹61 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 NSLNISP

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

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

Tomorrow's Volume based share price Forecast for NSLNISP

NSLNISP'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 82%.

Reversal detection for NSLNISP

Predicted trend chart of NSLNISP tomorrow for price forecast
NSLNISP may trend may continue to be bearish since stock is making lower low and we can get target of ₹64 in morning tomorrow
Target 1 tomorrow67
Target 2 tomorrow68
Target 3 tomorrow70
 

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 NSLNISP'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 NSLNISP opens on a positive note, our first target will be ₹66.72. If Target 1 is achieved, we will aim for Target 2 which is ₹69.53.

But if NSLNISP falls below the average value of ₹65.08, you can enter a sell side position with target number 1 - ₹62.27 and second target - ₹60.63

NSLNISP's Weekly Targets
1st Up Target 67.78
2nd Up Target 71.67
1st Down Target 60.13
2nd Down Target 56.37

As the week for NSLNISP ended on bullish sentiments, we can expect further continuation of this sentiment. NSLNISP's initial target will be 67.78 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 60.13 in the upcoming week.

Weekly OHLC Values
Open 62.15
High 67.90
Low 60.25
Close 63.90

Week for NSLNISP started with an open price of 62.15, and the close was at 63.90. NSLNISP reached the highest of 67.90 and dipped lowest up to 60.25 last week. This indicates a bullish sentiment for the week.

NSLNISP full month swing targets
Monthly Up Target 1 75.43
Monthly Up Target 2 79.32
Monthly Down Target 1 52.48
Monthly Down Target 2 41.07

Targets of ₹75.43 can be expected to be reached in the coming month. Once NSLNISP achieved this target, we can aim for the next upside target of ₹79.32.

NSLNISP if fails to hold upside, down targets of ₹52.48 and ₹41.07 can be achieved by end of this month.

For complete three weeks if NSLNISP 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 NSLNISP

Symbol Name Industry
ULTRACEMCO UltraTech Cement Limited Building Materials
ASIANPAINT Asian Paints Limited Specialty Chemicals
JSWSTEEL JSW Steel Limited Steel
TATASTEEL Tata Steel Limited Steel
GRASIM Grasim Industries Limited Building Materials

Summary

NSLNISP is expected to reach the target of 66.72 in tomorrow's trading session.

After achieving the initial target in NSLNISP, we will aim for higher targets of 69.53 tomorrow.

However, if NSLNISP starts to trade below ₹65.08, then we will shift our focus to the sell side and aim for down targets of 62.27 and 60.63.