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

Panama Petrochem Limited

Symbol: NSE:PANAMAPET

ISIN: INE305C01029

329.35

As on 2024-04-12

276.00 (52W Low) 387.00 (52W High)

PANAMAPET's Today's Performance

Panama Petrochem Limited started the day by opening at 332.05 today 2024-04-12. Its shares reached a high of 336.55 and dipped to a low of 328.50 in intraday. When the markets closed, PANAMAPET’s stock price settled at ₹329.35 per share. Also check out its key support and resistance levels.

PANAMAPET Buy/Sell Targets

Tomorrow, sell PANAMAPET when its price reaches ₹ 329.35 with a stop-loss order at ₹ 333.63. You can set the target price as ₹ 325.07 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 PANAMAPET 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 PANAMAPET

Resistance Levels Value in ₹
Tomorrow Resistance 1 334
Tomorrow Resistance 2 340
Tomorrow Resistance 3 342

Important Supports for PANAMAPET

Support Levels Value in ₹
Tomorrow Support 1 326
Tomorrow Support 2 323
Tomorrow Support 3 318
Based on where the stock opens tomorrow, if PANAMAPET opens on a positive note, our first target will be ₹334. If Target 1 is achieved, we will aim for Target 2 which is ₹340.

But if PANAMAPET falls below the average value of ₹331.47, you can enter a sell side position with target number 1 - ₹326 and second target - ₹323 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 PANAMAPET

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

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

Tomorrow's Volume based share price Forecast for PANAMAPET

PANAMAPET'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 PANAMAPET

Predicted trend chart of PANAMAPET tomorrow for price forecast
PANAMAPET may trend may continue to be bearish since stock is making lower low and we can get target of ₹335 in morning tomorrow
Target 1 tomorrow335
Target 2 tomorrow336
Target 3 tomorrow340
 

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 PANAMAPET'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 PANAMAPET opens on a positive note, our first target will be ₹334.43. If Target 1 is achieved, we will aim for Target 2 which is ₹339.52.

But if PANAMAPET falls below the average value of ₹331.47, you can enter a sell side position with target number 1 - ₹326.38 and second target - ₹323.42

PANAMAPET's Weekly Targets
1st Up Target 341.43
2nd Up Target 353.52
1st Down Target 322.88
2nd Down Target 316.42

As the week for PANAMAPET ended on bearish sentiments, we can expect further continuation of this sentiment. PANAMAPET's initial target will be 341.43 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 322.88 in the upcoming week.

Weekly OHLC Values
Open 345.80
High 347.05
Low 328.50
Close 329.35

Week for PANAMAPET started with an open price of 345.80, and the close was at 329.35. PANAMAPET reached the highest of 347.05 and dipped lowest up to 328.50 last week. This indicates a bearish sentiment for the week.

PANAMAPET full month swing targets
Monthly Up Target 1 359.98
Monthly Up Target 2 372.07
Monthly Down Target 1 304.33
Monthly Down Target 2 279.32

Targets of ₹359.98 can be expected to be reached in the coming month. Once PANAMAPET achieved this target, we can aim for the next upside target of ₹372.07.

PANAMAPET if fails to hold upside, down targets of ₹304.33 and ₹279.32 can be achieved by end of this month.

For complete three weeks if PANAMAPET 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 PANAMAPET

Symbol Name Industry
RELIANCE Reliance Industries Limited Oil & Gas Refining & Marketing
ADANIENT Adani Enterprises Limited Thermal Coal
ONGC Oil & Natural Gas Corporation Limited Oil & Gas Integrated
COALINDIA Coal India Limited Thermal Coal
IOC Indian Oil Corporation Limited Oil & Gas Refining & Marketing

Summary

PANAMAPET is expected to reach the target of 334.43 in tomorrow's trading session.

After achieving the initial target in PANAMAPET, we will aim for higher targets of 339.52 tomorrow.

However, if PANAMAPET starts to trade below ₹331.47, then we will shift our focus to the sell side and aim for down targets of 326.38 and 323.42.