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

Orient Cement Limited

Symbol: NSE:ORIENTCEM

ISIN: INE876N01018

199.85

As on 2024-04-16

118.70 (52W Low) 293.75 (52W High)

ORIENTCEM's Today's Performance

Orient Cement Limited started the day by opening at 202.85 today 2024-04-16. Its shares reached a high of 203.95 and dipped to a low of 199.05 in intraday. When the markets closed, ORIENTCEM’s stock price settled at ₹199.85 per share. Also check out its key support and resistance levels.

ORIENTCEM Buy/Sell Targets

Tomorrow, sell ORIENTCEM when its price reaches ₹ 199.85 with a stop-loss order at ₹ 203.51. You can set the target price as ₹ 196.19 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 ORIENTCEM 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 ORIENTCEM

Resistance Levels Value in ₹
Tomorrow Resistance 1 203
Tomorrow Resistance 2 206
Tomorrow Resistance 3 208

Important Supports for ORIENTCEM

Support Levels Value in ₹
Tomorrow Support 1 198
Tomorrow Support 2 196
Tomorrow Support 3 193
Based on where the stock opens tomorrow, if ORIENTCEM opens on a positive note, our first target will be ₹203. If Target 1 is achieved, we will aim for Target 2 which is ₹206.

But if ORIENTCEM falls below the average value of ₹200.95, you can enter a sell side position with target number 1 - ₹198 and second target - ₹196 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 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, ORIENTCEM has been on a Downward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for ORIENTCEM is strong bearish.

Tomorrow's Volume based share price Forecast for ORIENTCEM

ORIENTCEM's Volume is currently in a Increasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a strong bearish trend. Volume trend strength over the last month compared to the last week is 785%.

Reversal detection for ORIENTCEM

Predicted trend chart of ORIENTCEM tomorrow for price forecast
ORIENTCEM may trend may continue to be bearish since stock is making lower low and we can get target of ₹202 in morning tomorrow
Target 1 tomorrow203
Target 2 tomorrow204
Target 3 tomorrow206
 

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 ₹202.85. If Target 1 is achieved, we will aim for Target 2 which is ₹205.85.

But if ORIENTCEM falls below the average value of ₹200.95, you can enter a sell side position with target number 1 - ₹197.95 and second target - ₹196.05

ORIENTCEM's Weekly Targets
1st Up Target 205.08
2nd Up Target 210.32
1st Down Target 196.73
2nd Down Target 193.62

As the week for ORIENTCEM ended on bearish sentiments, we can expect further continuation of this sentiment. ORIENTCEM's initial target will be 205.08 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 196.73 in the upcoming week.

Weekly OHLC Values
Open 206.90
High 207.20
Low 198.85
Close 199.85

Week for ORIENTCEM started with an open price of 206.90, and the close was at 199.85. ORIENTCEM reached the highest of 207.20 and dipped lowest up to 198.85 last week. This indicates a bearish sentiment for the week.

ORIENTCEM full month swing targets
Monthly Up Target 1 213.43
Monthly Up Target 2 218.67
Monthly Down Target 1 188.38
Monthly Down Target 2 176.92

Targets of ₹213.43 can be expected to be reached in the coming month. Once ORIENTCEM achieved this target, we can aim for the next upside target of ₹218.67.

ORIENTCEM if fails to hold upside, down targets of ₹188.38 and ₹176.92 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 202.85 in tomorrow's trading session.

After achieving the initial target in ORIENTCEM, we will aim for higher targets of 205.85 tomorrow.

However, if ORIENTCEM starts to trade below ₹200.95, then we will shift our focus to the sell side and aim for down targets of 197.95 and 196.05.