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

Precision Camshafts Limited

Symbol: NSE:PRECAM

ISIN: INE484I01029

211.75

As on 2024-04-12

106.00 (52W Low) 319.00 (52W High)

PRECAM's Today's Performance

Precision Camshafts Limited started the day by opening at 214.05 today 2024-04-12. Its shares reached a high of 216.70 and dipped to a low of 211.05 in intraday. When the markets closed, PRECAM’s stock price settled at ₹211.75 per share. Also check out its key support and resistance levels.

PRECAM Buy/Sell Targets

Tomorrow, sell PRECAM when its price reaches ₹ 211.75 with a stop-loss order at ₹ 214.26. You can set the target price as ₹ 209.24 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 PRECAM 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 PRECAM

Resistance Levels Value in ₹
Tomorrow Resistance 1 215
Tomorrow Resistance 2 219
Tomorrow Resistance 3 221

Important Supports for PRECAM

Support Levels Value in ₹
Tomorrow Support 1 210
Tomorrow Support 2 208
Tomorrow Support 3 204
Based on where the stock opens tomorrow, if PRECAM opens on a positive note, our first target will be ₹215. If Target 1 is achieved, we will aim for Target 2 which is ₹219.

But if PRECAM falls below the average value of ₹213.17, you can enter a sell side position with target number 1 - ₹210 and second target - ₹208 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 PRECAM

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

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

Tomorrow's Volume based share price Forecast for PRECAM

PRECAM'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 760%.

Reversal detection for PRECAM

Predicted trend chart of PRECAM tomorrow for price forecast
PRECAM may trend may continue to be bearish since stock is making lower low and we can get target of ₹214 in morning tomorrow
Target 1 tomorrow215
Target 2 tomorrow217
Target 3 tomorrow219
 

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 PRECAM'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 PRECAM opens on a positive note, our first target will be ₹215.28. If Target 1 is achieved, we will aim for Target 2 which is ₹218.82.

But if PRECAM falls below the average value of ₹213.17, you can enter a sell side position with target number 1 - ₹209.63 and second target - ₹207.52

PRECAM's Weekly Targets
1st Up Target 218.40
2nd Up Target 225.05
1st Down Target 208.05
2nd Down Target 204.35

As the week for PRECAM ended on bearish sentiments, we can expect further continuation of this sentiment. PRECAM's initial target will be 218.40 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 208.05 in the upcoming week.

Weekly OHLC Values
Open 220.95
High 221.35
Low 211.00
Close 211.75

Week for PRECAM started with an open price of 220.95, and the close was at 211.75. PRECAM reached the highest of 221.35 and dipped lowest up to 211.00 last week. This indicates a bearish sentiment for the week.

PRECAM full month swing targets
Monthly Up Target 1 228.75
Monthly Up Target 2 235.40
Monthly Down Target 1 197.70
Monthly Down Target 2 183.65

Targets of ₹228.75 can be expected to be reached in the coming month. Once PRECAM achieved this target, we can aim for the next upside target of ₹235.40.

PRECAM if fails to hold upside, down targets of ₹197.70 and ₹183.65 can be achieved by end of this month.

For complete three weeks if PRECAM 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

PRECAM is expected to reach the target of 215.28 in tomorrow's trading session.

After achieving the initial target in PRECAM, we will aim for higher targets of 218.82 tomorrow.

However, if PRECAM starts to trade below ₹213.17, then we will shift our focus to the sell side and aim for down targets of 209.63 and 207.52.