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

Ponni Sugars (Erode) Limited

Symbol: NSE:PONNIERODE

ISIN: INE838E01017

417.35

As on 2024-04-12

363.25 (52W Low) 515.20 (52W High)

PONNIERODE's Today's Performance

Ponni Sugars (Erode) Limited started the day by opening at 425.95 today 2024-04-12. Its shares reached a high of 425.95 and dipped to a low of 415.55 in intraday. When the markets closed, PONNIERODE’s stock price settled at ₹417.35 per share. Also check out its key support and resistance levels.

PONNIERODE Buy/Sell Targets

Tomorrow, sell PONNIERODE when its price reaches ₹ 417.35 with a stop-loss order at ₹ 422.28. You can set the target price as ₹ 412.43 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 PONNIERODE 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 PONNIERODE

Resistance Levels Value in ₹
Tomorrow Resistance 1 424
Tomorrow Resistance 2 430
Tomorrow Resistance 3 434

Important Supports for PONNIERODE

Support Levels Value in ₹
Tomorrow Support 1 413
Tomorrow Support 2 409
Tomorrow Support 3 403
Based on where the stock opens tomorrow, if PONNIERODE opens on a positive note, our first target will be ₹424. If Target 1 is achieved, we will aim for Target 2 which is ₹430.

But if PONNIERODE falls below the average value of ₹419.62, you can enter a sell side position with target number 1 - ₹413 and second target - ₹409 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 PONNIERODE

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

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

Tomorrow's Volume based share price Forecast for PONNIERODE

PONNIERODE'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 19%.

Reversal detection for PONNIERODE

Predicted trend chart of PONNIERODE tomorrow for price forecast
PONNIERODE may trend may continue to be bearish since stock is making lower low and we can get target of ₹424 in morning tomorrow
Target 1 tomorrow424
Target 2 tomorrow426
Target 3 tomorrow430
 

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 PONNIERODE'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 PONNIERODE opens on a positive note, our first target will be ₹423.68. If Target 1 is achieved, we will aim for Target 2 which is ₹430.02.

But if PONNIERODE falls below the average value of ₹419.62, you can enter a sell side position with target number 1 - ₹413.28 and second target - ₹409.22

PONNIERODE's Weekly Targets
1st Up Target 426.13
2nd Up Target 434.92
1st Down Target 411.78
2nd Down Target 406.22

As the week for PONNIERODE ended on bearish sentiments, we can expect further continuation of this sentiment. PONNIERODE's initial target will be 426.13 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 411.78 in the upcoming week.

Weekly OHLC Values
Open 421.15
High 429.35
Low 415.00
Close 417.35

Week for PONNIERODE started with an open price of 421.15, and the close was at 417.35. PONNIERODE reached the highest of 429.35 and dipped lowest up to 415.00 last week. This indicates a bearish sentiment for the week.

PONNIERODE full month swing targets
Monthly Up Target 1 440.48
Monthly Up Target 2 449.27
Monthly Down Target 1 397.43
Monthly Down Target 2 377.52

Targets of ₹440.48 can be expected to be reached in the coming month. Once PONNIERODE achieved this target, we can aim for the next upside target of ₹449.27.

PONNIERODE if fails to hold upside, down targets of ₹397.43 and ₹377.52 can be achieved by end of this month.

For complete three weeks if PONNIERODE 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

PONNIERODE is expected to reach the target of 423.68 in tomorrow's trading session.

After achieving the initial target in PONNIERODE, we will aim for higher targets of 430.02 tomorrow.

However, if PONNIERODE starts to trade below ₹419.62, then we will shift our focus to the sell side and aim for down targets of 413.28 and 409.22.