Price and trend forecast of PARACABLES for Tomorrow, Weekly, Monthly
Paramount Communications Limited
Symbol: NSE:PARACABLES
ISIN: INE074B01023
88.56
As on 2024-09-11
PARACABLES's Today's Performance
Paramount Communications Limited started the day by opening at 90.72 today 2024-09-11. Its shares reached a high of 92.95 and dipped to a low of 88.07 in intraday. When the markets closed, PARACABLES’s stock price settled at ₹88.56 per share. Also check out its key support and resistance levels.
PARACABLES Buy/Sell Targets
Tomorrow, sell PARACABLES when its price reaches ₹ 88.56 with a stop-loss order at ₹ 91.16. You can set the target price as ₹ 85.96 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 PARACABLES 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 PARACABLES
| Downside Targets | Value in ₹ |
|---|---|
| Tomorrow Down Target 1 | 92 |
| Tomorrow Down Target 2 | 95 |
| Tomorrow Down Target 3 | 97 |
Important Levels for PARACABLES
| Holding Levels | Value in ₹ |
|---|---|
| Tomorrow Up Target 1 | 87 |
| Tomorrow Up Target 2 | 85 |
| Tomorrow Up Target 3 | 82 |
Based on where the stock opens tomorrow, if PARACABLES opens on a positive note, our first target will be ₹92. If Target 1 is achieved, we will aim for Target 2 which is ₹95.
But if PARACABLES falls below the average value of ₹89.86, you can enter a sell side position with target number 1 - ₹87 and second target - ₹85 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 PARACABLES
Looking at PARACABLES, 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, PARACABLES has been on a Downward path, giving us insights how its value changes in the market.
Based on this, the predicted sentiment for PARACABLES is moderate bearish.
Tomorrow's Volume based share price Forecast for PARACABLES
PARACABLES'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 208%.
Reversal detection for PARACABLES
PARACABLES may trend may continue to be bearish since stock is making lower low and we can get target of ₹91 in morning tomorrow
| Target 1 tomorrow | 92 |
| Target 2 tomorrow | 93 |
| Target 3 tomorrow | 95 |
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 PARACABLES'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 PARACABLES opens on a positive note, our first target will be ₹91.65. If Target 1 is achieved, we will aim for Target 2 which is ₹94.74.
But if PARACABLES falls below the average value of ₹89.86, you can enter a sell side position with target number 1 - ₹86.77 and second target - ₹84.98
PARACABLES's Weekly Targets
| 1st Up Target | 93.57 |
| 2nd Up Target | 98.57 |
| 1st Down Target | 84.79 |
| 2nd Down Target | 81.01 |
As the week for PARACABLES ended on bearish sentiments, we can expect further continuation of this sentiment. PARACABLES's initial target will be 93.57 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 84.79 in the upcoming week.
Weekly OHLC Values
| Open | 90.50 |
| High | 94.80 |
| Low | 86.02 |
| Close | 88.56 |
Week for PARACABLES started with an open price of 90.50, and the close was at 88.56. PARACABLES reached the highest of 94.80 and dipped lowest up to 86.02 last week. This indicates a bearish sentiment for the week.
PARACABLES full month swing targets
| Monthly Up Target 1 | 102.35 |
| Monthly Up Target 2 | 107.35 |
| Monthly Down Target 1 | 76.01 |
| Monthly Down Target 2 | 63.45 |
Targets of ₹102.35 can be expected to be reached in the coming month. Once PARACABLES achieved this target, we can aim for the next upside target of ₹107.35.
PARACABLES if fails to hold upside, down targets of ₹76.01 and ₹63.45 can be achieved by end of this month.
For complete three weeks if PARACABLES 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 PARACABLES
| Symbol | Name | Industry |
|---|---|---|
| TCS | Tata Consultancy Services Limited | Information Technology Services |
| INFY | Infosys Limited | Information Technology Services |
| CYIENTDLM | Cyient DLM Limited | Electronic Components |
| HCLTECH | HCL Technologies Limited | Information Technology Services |
| IDEAFORGE | ideaForge Technology Limited | Computer Hardware |
Summary
PARACABLES is expected to reach the target of 91.65 in tomorrow's trading session.
After achieving the initial target in PARACABLES, we will aim for higher targets of 94.74 tomorrow.
However, if PARACABLES starts to trade below ₹89.86, then we will shift our focus to the sell side and aim for down targets of 86.77 and 84.98.