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

Praxis Home Retail Limited

Symbol: NSE:PRAXIS

ISIN: INE546Y01022

21.70

As on 2024-04-12

11.05 (52W Low) 38.00 (52W High)

PRAXIS's Today's Performance

Praxis Home Retail Limited started the day by opening at 22.05 today 2024-04-12. Its shares reached a high of 22.55 and dipped to a low of 21.70 in intraday. When the markets closed, PRAXIS’s stock price settled at ₹21.70 per share. Also check out its key support and resistance levels.

PRAXIS Buy/Sell Targets

Tomorrow, sell PRAXIS when its price reaches ₹ 21.70 with a stop-loss order at ₹ 21.90. You can set the target price as ₹ 21.50 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 PRAXIS 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 PRAXIS

Resistance Levels Value in ₹
Tomorrow Resistance 1 22
Tomorrow Resistance 2 23
Tomorrow Resistance 3 23

Important Supports for PRAXIS

Support Levels Value in ₹
Tomorrow Support 1 21
Tomorrow Support 2 21
Tomorrow Support 3 21
Based on where the stock opens tomorrow, if PRAXIS opens on a positive note, our first target will be ₹22. If Target 1 is achieved, we will aim for Target 2 which is ₹23.

But if PRAXIS falls below the average value of ₹21.98, you can enter a sell side position with target number 1 - ₹21 and second target - ₹21 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 PRAXIS

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

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

Tomorrow's Volume based share price Forecast for PRAXIS

PRAXIS's Volume is currently in a Increasing 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 -44%.

Reversal detection for PRAXIS

Predicted trend chart of PRAXIS tomorrow for price forecast
PRAXIS may reverse its trend from upside (Short term bearish outlook) and we can get target of ₹22 in morning tomorrow
Target 1 tomorrow22
Target 2 tomorrow23
Target 3 tomorrow23
 

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 PRAXIS'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 PRAXIS opens on a positive note, our first target will be ₹22.27. If Target 1 is achieved, we will aim for Target 2 which is ₹22.83.

But if PRAXIS falls below the average value of ₹21.98, you can enter a sell side position with target number 1 - ₹21.42 and second target - ₹21.13

PRAXIS's Weekly Targets
1st Up Target 22.77
2nd Up Target 23.83
1st Down Target 21.17
2nd Down Target 20.63

As the week for PRAXIS ended on bearish sentiments, we can expect further continuation of this sentiment. PRAXIS's initial target will be 22.77 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 21.17 in the upcoming week.

Weekly OHLC Values
Open 22.75
High 23.30
Low 21.70
Close 21.70

Week for PRAXIS started with an open price of 22.75, and the close was at 21.70. PRAXIS reached the highest of 23.30 and dipped lowest up to 21.70 last week. This indicates a bearish sentiment for the week.

PRAXIS full month swing targets
Monthly Up Target 1 24.37
Monthly Up Target 2 25.43
Monthly Down Target 1 19.57
Monthly Down Target 2 17.43

Targets of ₹24.37 can be expected to be reached in the coming month. Once PRAXIS achieved this target, we can aim for the next upside target of ₹25.43.

PRAXIS if fails to hold upside, down targets of ₹19.57 and ₹17.43 can be achieved by end of this month.

For complete three weeks if PRAXIS 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 PRAXIS

Symbol Name Industry
MARUTI Maruti Suzuki India Limited Auto Manufacturers
TATAMTRDVR Tata Motors Limited Auto Manufacturers
TATAMOTORS Tata Motors Limited Auto Manufacturers
TITAN Titan Company Limited Luxury Goods
BAJAJ-AUTO Bajaj Auto Limited Auto Manufacturers

Summary

PRAXIS is expected to reach the target of 22.27 in tomorrow's trading session.

After achieving the initial target in PRAXIS, we will aim for higher targets of 22.83 tomorrow.

However, if PRAXIS starts to trade below ₹21.98, then we will shift our focus to the sell side and aim for down targets of 21.42 and 21.13.