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

Shankara Building Products Limited

Symbol: NSE:SHANKARA

ISIN: INE274V01019

705.80

As on 2024-04-12

605.85 (52W Low) 920.00 (52W High)

SHANKARA's Today's Performance

Shankara Building Products Limited started the day by opening at 714.00 today 2024-04-12. Its shares reached a high of 720.00 and dipped to a low of 701.55 in intraday. When the markets closed, SHANKARA’s stock price settled at ₹705.80 per share. Also check out its key support and resistance levels.

SHANKARA Buy/Sell Targets

Tomorrow, sell SHANKARA when its price reaches ₹ 705.80 with a stop-loss order at ₹ 715.16. You can set the target price as ₹ 696.44 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 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 SHANKARA

Resistance Levels Value in ₹
Tomorrow Resistance 1 717
Tomorrow Resistance 2 728
Tomorrow Resistance 3 735

Important Supports for SHANKARA

Support Levels Value in ₹
Tomorrow Support 1 698
Tomorrow Support 2 691
Tomorrow Support 3 680
Based on where the stock opens tomorrow, if SHANKARA opens on a positive note, our first target will be ₹717. If Target 1 is achieved, we will aim for Target 2 which is ₹728.

But if SHANKARA falls below the average value of ₹709.12, you can enter a sell side position with target number 1 - ₹698 and second target - ₹691 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 Upward path, giving us insights how its value changes in the market.

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

Tomorrow's Volume based share price Forecast for SHANKARA

SHANKARA'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 -18%.

Reversal detection for SHANKARA

Predicted trend chart of SHANKARA tomorrow for price forecast
SHANKARA may trend may continue to be bearish since stock is making lower low and we can get target of ₹719 in morning tomorrow
Target 1 tomorrow716
Target 2 tomorrow721
Target 3 tomorrow728
 

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 ₹716.68. If Target 1 is achieved, we will aim for Target 2 which is ₹727.57.

But if SHANKARA falls below the average value of ₹709.12, you can enter a sell side position with target number 1 - ₹698.23 and second target - ₹690.67

SHANKARA's Weekly Targets
1st Up Target 724.45
2nd Up Target 743.10
1st Down Target 694.35
2nd Down Target 682.90

As the week for SHANKARA ended on bearish sentiments, we can expect further continuation of this sentiment. SHANKARA's initial target will be 724.45 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 694.35 in the upcoming week.

Weekly OHLC Values
Open 729.95
High 731.65
Low 701.55
Close 705.80

Week for SHANKARA started with an open price of 729.95, and the close was at 705.80. SHANKARA reached the highest of 731.65 and dipped lowest up to 701.55 last week. This indicates a bearish sentiment for the week.

SHANKARA full month swing targets
Monthly Up Target 1 754.55
Monthly Up Target 2 773.20
Monthly Down Target 1 664.25
Monthly Down Target 2 622.70

Targets of ₹754.55 can be expected to be reached in the coming month. Once SHANKARA achieved this target, we can aim for the next upside target of ₹773.20.

SHANKARA if fails to hold upside, down targets of ₹664.25 and ₹622.70 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

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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 716.68 in tomorrow's trading session.

After achieving the initial target in SHANKARA, we will aim for higher targets of 727.57 tomorrow.

However, if SHANKARA starts to trade below ₹709.12, then we will shift our focus to the sell side and aim for down targets of 698.23 and 690.67.