Price and trend forecast of ORIENTCEM for Tomorrow, Weekly, Monthly
Orient Cement Limited
Symbol: NSE:ORIENTCEM
ISIN: INE876N01018
335.30
As on 2024-07-26
ORIENTCEM's Today's Performance
Orient Cement Limited started the day by opening at 323.90 today 2024-07-26. Its shares reached a high of 338.90 and dipped to a low of 323.85 in intraday. When the markets closed, ORIENTCEM’s stock price settled at ₹335.30 per share. Also check out its key support and resistance levels.
ORIENTCEM Buy/Sell Targets
Tomorrow, buy ORIENTCEM when its price reaches ₹ 335.30 with a stop-loss order at ₹ 328.22. You can set the target price as ₹ 342.38 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 ORIENTCEM 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 ORIENTCEM
| Downside Targets | Value in ₹ |
|---|---|
| Tomorrow Down Target 1 | 342 |
| Tomorrow Down Target 2 | 348 |
| Tomorrow Down Target 3 | 357 |
Important Levels for ORIENTCEM
| Holding Levels | Value in ₹ |
|---|---|
| Tomorrow Up Target 1 | 326 |
| Tomorrow Up Target 2 | 318 |
| Tomorrow Up Target 3 | 311 |
Based on where the stock opens tomorrow, if ORIENTCEM opens on a positive note, our first target will be ₹342. If Target 1 is achieved, we will aim for Target 2 which is ₹348.
But if ORIENTCEM falls below the average value of ₹332.68, you can enter a sell side position with target number 1 - ₹326 and second target - ₹318 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 ORIENTCEM
Looking at ORIENTCEM, 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, ORIENTCEM has been on a Upward path, giving us insights how its value changes in the market.
Based on this, the predicted sentiment for ORIENTCEM is moderate bullish.
Tomorrow's Volume based share price Forecast for ORIENTCEM
ORIENTCEM'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 785%.
Reversal detection for ORIENTCEM
ORIENTCEM may reverse its trend from upside (Short term bearish outlook) and we can get target of ₹321 in morning tomorrow
| Target 1 tomorrow | 338 |
| Target 2 tomorrow | 342 |
| Target 3 tomorrow | 348 |
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 ORIENTCEM'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 ORIENTCEM opens on a positive note, our first target will be ₹341.52. If Target 1 is achieved, we will aim for Target 2 which is ₹347.73.
But if ORIENTCEM falls below the average value of ₹332.68, you can enter a sell side position with target number 1 - ₹326.47 and second target - ₹317.63
ORIENTCEM's Weekly Targets
| 1st Up Target | 347.88 |
| 2nd Up Target | 360.47 |
| 1st Down Target | 313.83 |
| 2nd Down Target | 292.37 |
As the week for ORIENTCEM ended on bullish sentiments, we can expect further continuation of this sentiment. ORIENTCEM's initial target will be 347.88 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 313.83 in the upcoming week.
Weekly OHLC Values
| Open | 322.75 |
| High | 339.00 |
| Low | 304.95 |
| Close | 335.30 |
Week for ORIENTCEM started with an open price of 322.75, and the close was at 335.30. ORIENTCEM reached the highest of 339.00 and dipped lowest up to 304.95 last week. This indicates a bullish sentiment for the week.
ORIENTCEM full month swing targets
| Monthly Up Target 1 | 381.93 |
| Monthly Up Target 2 | 394.52 |
| Monthly Down Target 1 | 279.78 |
| Monthly Down Target 2 | 224.27 |
Targets of ₹381.93 can be expected to be reached in the coming month. Once ORIENTCEM achieved this target, we can aim for the next upside target of ₹394.52.
ORIENTCEM if fails to hold upside, down targets of ₹279.78 and ₹224.27 can be achieved by end of this month.
For complete three weeks if ORIENTCEM 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 ORIENTCEM
| 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
ORIENTCEM is expected to reach the target of 341.52 in tomorrow's trading session.
After achieving the initial target in ORIENTCEM, we will aim for higher targets of 347.73 tomorrow.
However, if ORIENTCEM starts to trade below ₹332.68, then we will shift our focus to the sell side and aim for down targets of 326.47 and 317.63.