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

Sheetal Cool Products Limited

Symbol: NSE:SCPL

ISIN: INE501Y01019

407.05

As on 2024-04-19

318.25 (52W Low) 717.05 (52W High)

SCPL's Today's Performance

Sheetal Cool Products Limited started the day by opening at 410.00 today 2024-04-19. Its shares reached a high of 415.00 and dipped to a low of 403.55 in intraday. When the markets closed, SCPL’s stock price settled at ₹407.05 per share. Also check out its key support and resistance levels.

SCPL Buy/Sell Targets

Tomorrow, sell SCPL when its price reaches ₹ 407.05 with a stop-loss order at ₹ 415.88. You can set the target price as ₹ 398.23 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 SCPL 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 SCPL

Downside Targets Value in ₹
Tomorrow Down Target 1 414
Tomorrow Down Target 2 420
Tomorrow Down Target 3 425

Important Levels for SCPL

Holding Levels Value in ₹
Tomorrow Up Target 1 402
Tomorrow Up Target 2 397
Tomorrow Up Target 3 391
Based on where the stock opens tomorrow, if SCPL opens on a positive note, our first target will be ₹414. If Target 1 is achieved, we will aim for Target 2 which is ₹420.

But if SCPL falls below the average value of ₹408.53, you can enter a sell side position with target number 1 - ₹402 and second target - ₹397 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 SCPL

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

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

Tomorrow's Volume based share price Forecast for SCPL

SCPL'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 -22%.

Reversal detection for SCPL

Predicted trend chart of SCPL tomorrow for price forecast
SCPL may trend may continue to be bearish since stock is making lower low and we can get target of ₹417 in morning tomorrow
Target 1 tomorrow413
Target 2 tomorrow416
Target 3 tomorrow420
 

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 SCPL'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 SCPL opens on a positive note, our first target will be ₹413.52. If Target 1 is achieved, we will aim for Target 2 which is ₹419.98.

But if SCPL falls below the average value of ₹408.53, you can enter a sell side position with target number 1 - ₹402.07 and second target - ₹397.08

SCPL's Weekly Targets
1st Up Target 427.37
2nd Up Target 447.68
1st Down Target 394.32
2nd Down Target 381.58

As the week for SCPL ended on bearish sentiments, we can expect further continuation of this sentiment. SCPL's initial target will be 427.37 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 394.32 in the upcoming week.

Weekly OHLC Values
Open 418.00
High 434.95
Low 401.90
Close 407.05

Week for SCPL started with an open price of 418.00, and the close was at 407.05. SCPL reached the highest of 434.95 and dipped lowest up to 401.90 last week. This indicates a bearish sentiment for the week.

SCPL full month swing targets
Monthly Up Target 1 460.42
Monthly Up Target 2 480.73
Monthly Down Target 1 361.27
Monthly Down Target 2 315.48

Targets of ₹460.42 can be expected to be reached in the coming month. Once SCPL achieved this target, we can aim for the next upside target of ₹480.73.

SCPL if fails to hold upside, down targets of ₹361.27 and ₹315.48 can be achieved by end of this month.

For complete three weeks if SCPL 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

SCPL is expected to reach the target of 413.52 in tomorrow's trading session.

After achieving the initial target in SCPL, we will aim for higher targets of 419.98 tomorrow.

However, if SCPL starts to trade below ₹408.53, then we will shift our focus to the sell side and aim for down targets of 402.07 and 397.08.