Price and trend forecast of SHANKARA for Tomorrow, Weekly, Monthly
Shankara Building Products Limited
Symbol: NSE:SHANKARA
ISIN: INE274V01019
499.80
As on 2024-10-17
SHANKARA's Today's Performance
Shankara Building Products Limited started the day by opening at 501.75 today 2024-10-17. Its shares reached a high of 507.65 and dipped to a low of 496.30 in intraday. When the markets closed, SHANKARA’s stock price settled at ₹499.80 per share. Also check out its key support and resistance levels.
SHANKARA Buy/Sell Targets
Tomorrow, sell SHANKARA when its price reaches ₹ 499.80 with a stop-loss order at ₹ 506.75. You can set the target price as ₹ 492.85 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 SHANKARA 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 SHANKARA
| Downside Targets | Value in ₹ |
|---|---|
| Tomorrow Down Target 1 | 506 |
| Tomorrow Down Target 2 | 513 |
| Tomorrow Down Target 3 | 518 |
Important Levels for SHANKARA
| Holding Levels | Value in ₹ |
|---|---|
| Tomorrow Up Target 1 | 495 |
| Tomorrow Up Target 2 | 490 |
| Tomorrow Up Target 3 | 484 |
Based on where the stock opens tomorrow, if SHANKARA opens on a positive note, our first target will be ₹506. If Target 1 is achieved, we will aim for Target 2 which is ₹513.
But if SHANKARA falls below the average value of ₹501.25, you can enter a sell side position with target number 1 - ₹495 and second target - ₹490 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 SHANKARA
Looking at SHANKARA, 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, SHANKARA has been on a Downward path, giving us insights how its value changes in the market.
Based on this, the predicted sentiment for SHANKARA is moderate bearish.
Tomorrow's Volume based share price Forecast for SHANKARA
SHANKARA'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 -18%.
Reversal detection for SHANKARA
SHANKARA may trend may continue to be bearish since stock is making lower low and we can get target of ₹500 in morning tomorrow
| Target 1 tomorrow | 506 |
| Target 2 tomorrow | 508 |
| Target 3 tomorrow | 513 |
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 SHANKARA'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 SHANKARA opens on a positive note, our first target will be ₹506.20. If Target 1 is achieved, we will aim for Target 2 which is ₹512.60.
But if SHANKARA falls below the average value of ₹501.25, you can enter a sell side position with target number 1 - ₹494.85 and second target - ₹489.90
SHANKARA's Weekly Targets
| 1st Up Target | 515.48 |
| 2nd Up Target | 531.17 |
| 1st Down Target | 489.73 |
| 2nd Down Target | 479.67 |
As the week for SHANKARA ended on bearish sentiments, we can expect further continuation of this sentiment. SHANKARA's initial target will be 515.48 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 489.73 in the upcoming week.
Weekly OHLC Values
| Open | 518.70 |
| High | 521.10 |
| Low | 495.35 |
| Close | 499.80 |
Week for SHANKARA started with an open price of 518.70, and the close was at 499.80. SHANKARA reached the highest of 521.10 and dipped lowest up to 495.35 last week. This indicates a bearish sentiment for the week.
SHANKARA full month swing targets
| Monthly Up Target 1 | 541.23 |
| Monthly Up Target 2 | 556.92 |
| Monthly Down Target 1 | 463.98 |
| Monthly Down Target 2 | 428.17 |
Targets of ₹541.23 can be expected to be reached in the coming month. Once SHANKARA achieved this target, we can aim for the next upside target of ₹556.92.
SHANKARA if fails to hold upside, down targets of ₹463.98 and ₹428.17 can be achieved by end of this month.
For complete three weeks if SHANKARA 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 SHANKARA
| 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
SHANKARA is expected to reach the target of 506.20 in tomorrow's trading session.
After achieving the initial target in SHANKARA, we will aim for higher targets of 512.60 tomorrow.
However, if SHANKARA starts to trade below ₹501.25, then we will shift our focus to the sell side and aim for down targets of 494.85 and 489.90.