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

Oriental Aromatics Limited

Symbol: NSE:OAL

ISIN: INE959C01023

320.75

As on 2024-04-16

293.00 (52W Low) 503.20 (52W High)

OAL's Today's Performance

Oriental Aromatics Limited started the day by opening at 322.70 today 2024-04-16. Its shares reached a high of 328.50 and dipped to a low of 316.95 in intraday. When the markets closed, OAL’s stock price settled at ₹320.75 per share. Also check out its key support and resistance levels.

OAL Buy/Sell Targets

Tomorrow, sell OAL when its price reaches ₹ 320.75 with a stop-loss order at ₹ 326.67. You can set the target price as ₹ 314.83 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 OAL 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 OAL

Resistance Levels Value in ₹
Tomorrow Resistance 1 327
Tomorrow Resistance 2 334
Tomorrow Resistance 3 339

Important Supports for OAL

Support Levels Value in ₹
Tomorrow Support 1 316
Tomorrow Support 2 311
Tomorrow Support 3 304
Based on where the stock opens tomorrow, if OAL opens on a positive note, our first target will be ₹327. If Target 1 is achieved, we will aim for Target 2 which is ₹334.

But if OAL falls below the average value of ₹322.07, you can enter a sell side position with target number 1 - ₹316 and second target - ₹311 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 OAL

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

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

Tomorrow's Volume based share price Forecast for OAL

OAL'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 -5%.

Reversal detection for OAL

Predicted trend chart of OAL tomorrow for price forecast
OAL may trend may continue to be bearish since stock is making lower low and we can get target of ₹329 in morning tomorrow
Target 1 tomorrow326
Target 2 tomorrow329
Target 3 tomorrow334
 

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 OAL'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 OAL opens on a positive note, our first target will be ₹327.18. If Target 1 is achieved, we will aim for Target 2 which is ₹333.62.

But if OAL falls below the average value of ₹322.07, you can enter a sell side position with target number 1 - ₹315.63 and second target - ₹310.52

OAL's Weekly Targets
1st Up Target 333.15
2nd Up Target 345.55
1st Down Target 312.65
2nd Down Target 304.55

As the week for OAL ended on bearish sentiments, we can expect further continuation of this sentiment. OAL's initial target will be 333.15 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 312.65 in the upcoming week.

Weekly OHLC Values
Open 328.15
High 337.45
Low 316.95
Close 320.75

Week for OAL started with an open price of 328.15, and the close was at 320.75. OAL reached the highest of 337.45 and dipped lowest up to 316.95 last week. This indicates a bearish sentiment for the week.

OAL full month swing targets
Monthly Up Target 1 353.65
Monthly Up Target 2 366.05
Monthly Down Target 1 292.15
Monthly Down Target 2 263.55

Targets of ₹353.65 can be expected to be reached in the coming month. Once OAL achieved this target, we can aim for the next upside target of ₹366.05.

OAL if fails to hold upside, down targets of ₹292.15 and ₹263.55 can be achieved by end of this month.

For complete three weeks if OAL 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

OAL is expected to reach the target of 327.18 in tomorrow's trading session.

After achieving the initial target in OAL, we will aim for higher targets of 333.62 tomorrow.

However, if OAL starts to trade below ₹322.07, then we will shift our focus to the sell side and aim for down targets of 315.63 and 310.52.