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

Oriental Carbon & Chemicals Limited

Symbol: NSE:OCCL

ISIN: INE321D01016

754.65

As on 2024-04-12

645.25 (52W Low) 938.85 (52W High)

OCCL's Today's Performance

Oriental Carbon & Chemicals Limited started the day by opening at 758.60 today 2024-04-12. Its shares reached a high of 770.00 and dipped to a low of 746.00 in intraday. When the markets closed, OCCL’s stock price settled at ₹754.65 per share. Also check out its key support and resistance levels.

OCCL Buy/Sell Targets

Tomorrow, buy OCCL when its price reaches ₹ 754.65 with a stop-loss order at ₹ 741.17. You can set the target price as ₹ 768.13 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 OCCL 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 OCCL

Resistance Levels Value in ₹
Tomorrow Resistance 1 768
Tomorrow Resistance 2 781
Tomorrow Resistance 3 792

Important Supports for OCCL

Support Levels Value in ₹
Tomorrow Support 1 744
Tomorrow Support 2 733
Tomorrow Support 3 720
Based on where the stock opens tomorrow, if OCCL opens on a positive note, our first target will be ₹768. If Target 1 is achieved, we will aim for Target 2 which is ₹781.

But if OCCL falls below the average value of ₹756.88, you can enter a sell side position with target number 1 - ₹744 and second target - ₹733 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 OCCL

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

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

Tomorrow's Volume based share price Forecast for OCCL

OCCL'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 -56%.

Reversal detection for OCCL

Predicted trend chart of OCCL tomorrow for price forecast
OCCL may trend may continue to be bullish since stock is making higher highs and we can get target of ₹737 in morning tomorrow
Target 1 tomorrow766
Target 2 tomorrow772
Target 3 tomorrow781
 

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 OCCL'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 OCCL opens on a positive note, our first target will be ₹767.77. If Target 1 is achieved, we will aim for Target 2 which is ₹780.88.

But if OCCL falls below the average value of ₹756.88, you can enter a sell side position with target number 1 - ₹743.77 and second target - ₹732.88

OCCL's Weekly Targets
1st Up Target 780.63
2nd Up Target 806.62
1st Down Target 718.03
2nd Down Target 681.42

As the week for OCCL ended on bullish sentiments, we can expect further continuation of this sentiment. OCCL's initial target will be 780.63 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 718.03 in the upcoming week.

Weekly OHLC Values
Open 729.30
High 770.00
Low 707.40
Close 754.65

Week for OCCL started with an open price of 729.30, and the close was at 754.65. OCCL reached the highest of 770.00 and dipped lowest up to 707.40 last week. This indicates a bullish sentiment for the week.

OCCL full month swing targets
Monthly Up Target 1 843.23
Monthly Up Target 2 869.22
Monthly Down Target 1 655.43
Monthly Down Target 2 556.22

Targets of ₹843.23 can be expected to be reached in the coming month. Once OCCL achieved this target, we can aim for the next upside target of ₹869.22.

OCCL if fails to hold upside, down targets of ₹655.43 and ₹556.22 can be achieved by end of this month.

For complete three weeks if OCCL 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

OCCL is expected to reach the target of 767.77 in tomorrow's trading session.

After achieving the initial target in OCCL, we will aim for higher targets of 780.88 tomorrow.

However, if OCCL starts to trade below ₹756.88, then we will shift our focus to the sell side and aim for down targets of 743.77 and 732.88.