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

Praj Industries Limited

Symbol: NSE:PRAJIND

ISIN: INE074A01025

519.45

As on 2024-04-24

345.00 (52W Low) 650.50 (52W High)

PRAJIND's Today's Performance

Praj Industries Limited started the day by opening at 527.00 today 2024-04-24. Its shares reached a high of 529.20 and dipped to a low of 517.50 in intraday. When the markets closed, PRAJIND’s stock price settled at ₹519.45 per share. Also check out its key support and resistance levels.

PRAJIND Buy/Sell Targets

Tomorrow, sell PRAJIND when its price reaches ₹ 519.45 with a stop-loss order at ₹ 526.02. You can set the target price as ₹ 512.88 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 PRAJIND 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 PRAJIND

Downside Targets Value in ₹
Tomorrow Down Target 1 527
Tomorrow Down Target 2 534
Tomorrow Down Target 3 538

Important Levels for PRAJIND

Holding Levels Value in ₹
Tomorrow Up Target 1 515
Tomorrow Up Target 2 510
Tomorrow Up Target 3 503
Based on where the stock opens tomorrow, if PRAJIND opens on a positive note, our first target will be ₹527. If Target 1 is achieved, we will aim for Target 2 which is ₹534.

But if PRAJIND falls below the average value of ₹522.05, you can enter a sell side position with target number 1 - ₹515 and second target - ₹510 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 PRAJIND

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

Based on this, the predicted sentiment for PRAJIND is strong bullish.

Tomorrow's Volume based share price Forecast for PRAJIND

PRAJIND's Volume is currently in a Increasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a strong bullish trend. Volume trend strength over the last month compared to the last week is 12%.

Reversal detection for PRAJIND

Predicted trend chart of PRAJIND tomorrow for price forecast
PRAJIND may trend may continue to be bearish since stock is making lower low and we can get target of ₹524 in morning tomorrow
Target 1 tomorrow527
Target 2 tomorrow529
Target 3 tomorrow534
 

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 PRAJIND'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 PRAJIND opens on a positive note, our first target will be ₹526.60. If Target 1 is achieved, we will aim for Target 2 which is ₹533.75.

But if PRAJIND falls below the average value of ₹522.05, you can enter a sell side position with target number 1 - ₹514.90 and second target - ₹510.35

PRAJIND's Weekly Targets
1st Up Target 531.25
2nd Up Target 543.05
1st Down Target 508.80
2nd Down Target 498.15

As the week for PRAJIND ended on bullish sentiments, we can expect further continuation of this sentiment. PRAJIND's initial target will be 531.25 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 508.80 in the upcoming week.

Weekly OHLC Values
Open 517.95
High 532.40
Low 509.95
Close 519.45

Week for PRAJIND started with an open price of 517.95, and the close was at 519.45. PRAJIND reached the highest of 532.40 and dipped lowest up to 509.95 last week. This indicates a bullish sentiment for the week.

PRAJIND full month swing targets
Monthly Up Target 1 553.70
Monthly Up Target 2 565.50
Monthly Down Target 1 486.35
Monthly Down Target 2 453.25

Targets of ₹553.70 can be expected to be reached in the coming month. Once PRAJIND achieved this target, we can aim for the next upside target of ₹565.50.

PRAJIND if fails to hold upside, down targets of ₹486.35 and ₹453.25 can be achieved by end of this month.

For complete three weeks if PRAJIND 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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BEL Bharat Electronics Limited Aerospace & Defense

Summary

PRAJIND is expected to reach the target of 526.60 in tomorrow's trading session.

After achieving the initial target in PRAJIND, we will aim for higher targets of 533.75 tomorrow.

However, if PRAJIND starts to trade below ₹522.05, then we will shift our focus to the sell side and aim for down targets of 514.90 and 510.35.