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

Sheela Foam Limited

Symbol: NSE:SFL

ISIN: INE916U01025

934.85

As on 2024-04-24

908.00 (52W Low) 1,369.95 (52W High)

SFL's Today's Performance

Sheela Foam Limited started the day by opening at 922.00 today 2024-04-24. Its shares reached a high of 939.00 and dipped to a low of 920.20 in intraday. When the markets closed, SFL’s stock price settled at ₹934.85 per share. Also check out its key support and resistance levels.

SFL Buy/Sell Targets

Tomorrow, buy SFL when its price reaches ₹ 934.85 with a stop-loss order at ₹ 922.89. You can set the target price as ₹ 946.81 to capture potential gains. This buy 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 SFL 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 SFL

Downside Targets Value in ₹
Tomorrow Down Target 1 943
Tomorrow Down Target 2 950
Tomorrow Down Target 3 961

Important Levels for SFL

Holding Levels Value in ₹
Tomorrow Up Target 1 924
Tomorrow Up Target 2 913
Tomorrow Up Target 3 905
Based on where the stock opens tomorrow, if SFL opens on a positive note, our first target will be ₹943. If Target 1 is achieved, we will aim for Target 2 which is ₹950.

But if SFL falls below the average value of ₹931.35, you can enter a sell side position with target number 1 - ₹924 and second target - ₹913 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 SFL

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

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

Tomorrow's Volume based share price Forecast for SFL

SFL'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 -13%.

Reversal detection for SFL

Predicted trend chart of SFL tomorrow for price forecast
SFL may reverse its trend from upside (Short term bearish outlook) and we can get target of ₹919 in morning tomorrow
Target 1 tomorrow939
Target 2 tomorrow943
Target 3 tomorrow950
 

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 SFL'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 SFL opens on a positive note, our first target will be ₹942.50. If Target 1 is achieved, we will aim for Target 2 which is ₹950.15.

But if SFL falls below the average value of ₹931.35, you can enter a sell side position with target number 1 - ₹923.70 and second target - ₹912.55

SFL's Weekly Targets
1st Up Target 951.20
2nd Up Target 967.55
1st Down Target 913.25
2nd Down Target 891.65

As the week for SFL ended on bearish sentiments, we can expect further continuation of this sentiment. SFL's initial target will be 951.20 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 913.25 in the upcoming week.

Weekly OHLC Values
Open 937.90
High 945.95
Low 908.00
Close 934.85

Week for SFL started with an open price of 937.90, and the close was at 934.85. SFL reached the highest of 945.95 and dipped lowest up to 908.00 last week. This indicates a bearish sentiment for the week.

SFL full month swing targets
Monthly Up Target 1 989.15
Monthly Up Target 2 1,005.50
Monthly Down Target 1 875.30
Monthly Down Target 2 815.75

Targets of ₹989.15 can be expected to be reached in the coming month. Once SFL achieved this target, we can aim for the next upside target of ₹1,005.50.

SFL if fails to hold upside, down targets of ₹875.30 and ₹815.75 can be achieved by end of this month.

For complete three weeks if SFL 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

SFL is expected to reach the target of 942.50 in tomorrow's trading session.

After achieving the initial target in SFL, we will aim for higher targets of 950.15 tomorrow.

However, if SFL starts to trade below ₹931.35, then we will shift our focus to the sell side and aim for down targets of 923.70 and 912.55.