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

Rico Auto Industries Limited

Symbol: NSE:RICOAUTO

ISIN: INE209B01025

135.95

As on 2024-04-16

68.80 (52W Low) 157.00 (52W High)

RICOAUTO's Today's Performance

Rico Auto Industries Limited started the day by opening at 136.05 today 2024-04-16. Its shares reached a high of 140.50 and dipped to a low of 134.05 in intraday. When the markets closed, RICOAUTO’s stock price settled at ₹135.95 per share. Also check out its key support and resistance levels.

RICOAUTO Buy/Sell Targets

Tomorrow, sell RICOAUTO when its price reaches ₹ 135.95 with a stop-loss order at ₹ 139.52. You can set the target price as ₹ 132.38 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 RICOAUTO 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 RICOAUTO

Resistance Levels Value in ₹
Tomorrow Resistance 1 140
Tomorrow Resistance 2 143
Tomorrow Resistance 3 146

Important Supports for RICOAUTO

Support Levels Value in ₹
Tomorrow Support 1 133
Tomorrow Support 2 130
Tomorrow Support 3 127
Based on where the stock opens tomorrow, if RICOAUTO opens on a positive note, our first target will be ₹140. If Target 1 is achieved, we will aim for Target 2 which is ₹143.

But if RICOAUTO falls below the average value of ₹136.83, you can enter a sell side position with target number 1 - ₹133 and second target - ₹130 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 RICOAUTO

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

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

Tomorrow's Volume based share price Forecast for RICOAUTO

RICOAUTO'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 -50%.

Reversal detection for RICOAUTO

Predicted trend chart of RICOAUTO tomorrow for price forecast
RICOAUTO may trend may continue to be bearish since stock is making lower low and we can get target of ₹136 in morning tomorrow
Target 1 tomorrow139
Target 2 tomorrow141
Target 3 tomorrow143
 

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 RICOAUTO'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 RICOAUTO opens on a positive note, our first target will be ₹139.62. If Target 1 is achieved, we will aim for Target 2 which is ₹143.28.

But if RICOAUTO falls below the average value of ₹136.83, you can enter a sell side position with target number 1 - ₹133.17 and second target - ₹130.38

RICOAUTO's Weekly Targets
1st Up Target 140.58
2nd Up Target 145.22
1st Down Target 131.23
2nd Down Target 126.52

As the week for RICOAUTO ended on bearish sentiments, we can expect further continuation of this sentiment. RICOAUTO's initial target will be 140.58 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 131.23 in the upcoming week.

Weekly OHLC Values
Open 136.70
High 140.50
Low 131.15
Close 135.95

Week for RICOAUTO started with an open price of 136.70, and the close was at 135.95. RICOAUTO reached the highest of 140.50 and dipped lowest up to 131.15 last week. This indicates a bearish sentiment for the week.

RICOAUTO full month swing targets
Monthly Up Target 1 149.93
Monthly Up Target 2 154.57
Monthly Down Target 1 121.88
Monthly Down Target 2 107.82

Targets of ₹149.93 can be expected to be reached in the coming month. Once RICOAUTO achieved this target, we can aim for the next upside target of ₹154.57.

RICOAUTO if fails to hold upside, down targets of ₹121.88 and ₹107.82 can be achieved by end of this month.

For complete three weeks if RICOAUTO 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 RICOAUTO

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

RICOAUTO is expected to reach the target of 139.62 in tomorrow's trading session.

After achieving the initial target in RICOAUTO, we will aim for higher targets of 143.28 tomorrow.

However, if RICOAUTO starts to trade below ₹136.83, then we will shift our focus to the sell side and aim for down targets of 133.17 and 130.38.