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

Prakash Industries Limited

Symbol: NSE:PRAKASH

ISIN: INE603A01013

168.20

As on 2024-04-16

103.10 (52W Low) 290.80 (52W High)

PRAKASH's Today's Performance

Prakash Industries Limited started the day by opening at 165.00 today 2024-04-16. Its shares reached a high of 172.70 and dipped to a low of 165.00 in intraday. When the markets closed, PRAKASH’s stock price settled at ₹168.20 per share. Also check out its key support and resistance levels.

PRAKASH Buy/Sell Targets

Tomorrow, buy PRAKASH when its price reaches ₹ 168.20 with a stop-loss order at ₹ 164.43. You can set the target price as ₹ 171.97 to capture potential gains. This buy 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 PRAKASH 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 PRAKASH

Resistance Levels Value in ₹
Tomorrow Resistance 1 172
Tomorrow Resistance 2 176
Tomorrow Resistance 3 180

Important Supports for PRAKASH

Support Levels Value in ₹
Tomorrow Support 1 165
Tomorrow Support 2 161
Tomorrow Support 3 157
Based on where the stock opens tomorrow, if PRAKASH opens on a positive note, our first target will be ₹172. If Target 1 is achieved, we will aim for Target 2 which is ₹176.

But if PRAKASH falls below the average value of ₹168.63, you can enter a sell side position with target number 1 - ₹165 and second target - ₹161 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 PRAKASH

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

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

Tomorrow's Volume based share price Forecast for PRAKASH

PRAKASH'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 -2%.

Reversal detection for PRAKASH

Predicted trend chart of PRAKASH tomorrow for price forecast
PRAKASH may trend may continue to be bullish since stock is making higher highs and we can get target of ₹167 in morning tomorrow
Target 1 tomorrow172
Target 2 tomorrow173
Target 3 tomorrow176
 

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 PRAKASH'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 PRAKASH opens on a positive note, our first target will be ₹172.27. If Target 1 is achieved, we will aim for Target 2 which is ₹176.33.

But if PRAKASH falls below the average value of ₹168.63, you can enter a sell side position with target number 1 - ₹164.57 and second target - ₹160.93

PRAKASH's Weekly Targets
1st Up Target 173.08
2nd Up Target 177.97
1st Down Target 162.93
2nd Down Target 157.67

As the week for PRAKASH ended on bullish sentiments, we can expect further continuation of this sentiment. PRAKASH's initial target will be 173.08 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 162.93 in the upcoming week.

Weekly OHLC Values
Open 162.55
High 172.70
Low 162.55
Close 168.20

Week for PRAKASH started with an open price of 162.55, and the close was at 168.20. PRAKASH reached the highest of 172.70 and dipped lowest up to 162.55 last week. This indicates a bullish sentiment for the week.

PRAKASH full month swing targets
Monthly Up Target 1 183.23
Monthly Up Target 2 188.12
Monthly Down Target 1 152.78
Monthly Down Target 2 137.37

Targets of ₹183.23 can be expected to be reached in the coming month. Once PRAKASH achieved this target, we can aim for the next upside target of ₹188.12.

PRAKASH if fails to hold upside, down targets of ₹152.78 and ₹137.37 can be achieved by end of this month.

For complete three weeks if PRAKASH 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

PRAKASH is expected to reach the target of 172.27 in tomorrow's trading session.

After achieving the initial target in PRAKASH, we will aim for higher targets of 176.33 tomorrow.

However, if PRAKASH starts to trade below ₹168.63, then we will shift our focus to the sell side and aim for down targets of 164.57 and 160.93.