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

Shipping Corporation Of India Limited

Symbol: NSE:SCI

ISIN: INE109A01011

259.10

As on 2024-05-27

94.60 (52W Low) 290.75 (52W High)

SCI's Today's Performance

Shipping Corporation Of India Limited started the day by opening at 266.45 today 2024-05-27. Its shares reached a high of 269.65 and dipped to a low of 254.20 in intraday. When the markets closed, SCI’s stock price settled at ₹259.10 per share. Also check out its key support and resistance levels.

SCI Buy/Sell Targets

Tomorrow, sell SCI when its price reaches ₹ 259.10 with a stop-loss order at ₹ 270.09. You can set the target price as ₹ 248.11 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 SCI 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 SCI

Downside Targets Value in ₹
Tomorrow Down Target 1 268
Tomorrow Down Target 2 276
Tomorrow Down Target 3 283

Important Levels for SCI

Holding Levels Value in ₹
Tomorrow Up Target 1 252
Tomorrow Up Target 2 246
Tomorrow Up Target 3 237
Based on where the stock opens tomorrow, if SCI opens on a positive note, our first target will be ₹268. If Target 1 is achieved, we will aim for Target 2 which is ₹276.

But if SCI falls below the average value of ₹260.98, you can enter a sell side position with target number 1 - ₹252 and second target - ₹246 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 SCI

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

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

Tomorrow's Volume based share price Forecast for SCI

SCI'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 235%.

Reversal detection for SCI

Predicted trend chart of SCI tomorrow for price forecast
SCI may trend may continue to be bearish since stock is making lower low and we can get target of ₹264 in morning tomorrow
Target 1 tomorrow267
Target 2 tomorrow271
Target 3 tomorrow276
 

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 SCI'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 SCI opens on a positive note, our first target will be ₹267.77. If Target 1 is achieved, we will aim for Target 2 which is ₹276.43.

But if SCI falls below the average value of ₹260.98, you can enter a sell side position with target number 1 - ₹252.32 and second target - ₹245.53

SCI's Weekly Targets
1st Up Target 267.77
2nd Up Target 276.43
1st Down Target 252.32
2nd Down Target 245.53

As the week for SCI ended on bearish sentiments, we can expect further continuation of this sentiment. SCI's initial target will be 267.77 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 252.32 in the upcoming week.

Weekly OHLC Values
Open 266.45
High 269.65
Low 254.20
Close 259.10

Week for SCI started with an open price of 266.45, and the close was at 259.10. SCI reached the highest of 269.65 and dipped lowest up to 254.20 last week. This indicates a bearish sentiment for the week.

SCI full month swing targets
Monthly Up Target 1 283.22
Monthly Up Target 2 291.88
Monthly Down Target 1 236.87
Monthly Down Target 2 214.63

Targets of ₹283.22 can be expected to be reached in the coming month. Once SCI achieved this target, we can aim for the next upside target of ₹291.88.

SCI if fails to hold upside, down targets of ₹236.87 and ₹214.63 can be achieved by end of this month.

For complete three weeks if SCI 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 SCI

Symbol Name Industry
LT Larsen & Toubro Limited Engineering & Construction
ADANIPORTS Adani Ports and Special Economic Zone Limited Marine Shipping
HAL Hindustan Aeronautics Limited Aerospace & Defense
SIEMENS Siemens Limited Specialty Industrial Machinery
BEL Bharat Electronics Limited Aerospace & Defense

Summary

SCI is expected to reach the target of 267.77 in tomorrow's trading session.

After achieving the initial target in SCI, we will aim for higher targets of 276.43 tomorrow.

However, if SCI starts to trade below ₹260.98, then we will shift our focus to the sell side and aim for down targets of 252.32 and 245.53.