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

Rajnandini Metal Limited

Symbol: NSE:RAJMET

ISIN: INE00KV01022

13.60

As on 2024-07-19

8.50 (52W Low) 21.35 (52W High)

RAJMET's Today's Performance

Rajnandini Metal Limited started the day by opening at 14.31 today 2024-07-19. Its shares reached a high of 14.50 and dipped to a low of 13.35 in intraday. When the markets closed, RAJMET’s stock price settled at ₹13.60 per share. Also check out its key support and resistance levels.

RAJMET Buy/Sell Targets

Tomorrow, sell RAJMET when its price reaches ₹ 13.60 with a stop-loss order at ₹ 14.11. You can set the target price as ₹ 13.09 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 RAJMET 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 RAJMET

Downside Targets Value in ₹
Tomorrow Down Target 1 14
Tomorrow Down Target 2 15
Tomorrow Down Target 3 15

Important Levels for RAJMET

Holding Levels Value in ₹
Tomorrow Up Target 1 13
Tomorrow Up Target 2 13
Tomorrow Up Target 3 12
Based on where the stock opens tomorrow, if RAJMET opens on a positive note, our first target will be ₹14. If Target 1 is achieved, we will aim for Target 2 which is ₹15.

But if RAJMET falls below the average value of ₹13.82, you can enter a sell side position with target number 1 - ₹13 and second target - ₹13 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 RAJMET

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

Based on this, the predicted sentiment for RAJMET is moderate bullish.

Tomorrow's Volume based share price Forecast for RAJMET

RAJMET's Volume is currently in a Decreasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a moderate bullish trend. Volume trend strength over the last month compared to the last week is 68%.

Reversal detection for RAJMET

Predicted trend chart of RAJMET tomorrow for price forecast
RAJMET may trend may continue to be bearish since stock is making lower low and we can get target of ₹14 in morning tomorrow
Target 1 tomorrow14
Target 2 tomorrow15
Target 3 tomorrow15
 

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 RAJMET'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 RAJMET opens on a positive note, our first target will be ₹14.28. If Target 1 is achieved, we will aim for Target 2 which is ₹14.97.

But if RAJMET falls below the average value of ₹13.82, you can enter a sell side position with target number 1 - ₹13.13 and second target - ₹12.67

RAJMET's Weekly Targets
1st Up Target 14.65
2nd Up Target 15.70
1st Down Target 12.80
2nd Down Target 12.00

As the week for RAJMET ended on bullish sentiments, we can expect further continuation of this sentiment. RAJMET's initial target will be 14.65 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 12.80 in the upcoming week.

Weekly OHLC Values
Open 13.19
High 14.90
Low 13.05
Close 13.60

Week for RAJMET started with an open price of 13.19, and the close was at 13.60. RAJMET reached the highest of 14.90 and dipped lowest up to 13.05 last week. This indicates a bullish sentiment for the week.

RAJMET full month swing targets
Monthly Up Target 1 16.50
Monthly Up Target 2 17.55
Monthly Down Target 1 10.95
Monthly Down Target 2 8.30

Targets of ₹16.50 can be expected to be reached in the coming month. Once RAJMET achieved this target, we can aim for the next upside target of ₹17.55.

RAJMET if fails to hold upside, down targets of ₹10.95 and ₹8.30 can be achieved by end of this month.

For complete three weeks if RAJMET 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

RAJMET is expected to reach the target of 14.28 in tomorrow's trading session.

After achieving the initial target in RAJMET, we will aim for higher targets of 14.97 tomorrow.

However, if RAJMET starts to trade below ₹13.82, then we will shift our focus to the sell side and aim for down targets of 13.13 and 12.67.