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

Shivam Autotech Limited

Symbol: NSE:SHIVAMAUTO

ISIN: INE637H01024

38.03

As on 2024-07-24

25.25 (52W Low) 49.75 (52W High)

SHIVAMAUTO's Today's Performance

Shivam Autotech Limited started the day by opening at 37.99 today 2024-07-24. Its shares reached a high of 38.70 and dipped to a low of 37.62 in intraday. When the markets closed, SHIVAMAUTO’s stock price settled at ₹38.03 per share. Also check out its key support and resistance levels.

SHIVAMAUTO Buy/Sell Targets

Tomorrow, buy SHIVAMAUTO when its price reaches ₹ 38.03 with a stop-loss order at ₹ 37.06. You can set the target price as ₹ 39.00 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 SHIVAMAUTO 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 SHIVAMAUTO

Downside Targets Value in ₹
Tomorrow Down Target 1 39
Tomorrow Down Target 2 39
Tomorrow Down Target 3 40

Important Levels for SHIVAMAUTO

Holding Levels Value in ₹
Tomorrow Up Target 1 38
Tomorrow Up Target 2 37
Tomorrow Up Target 3 36
Based on where the stock opens tomorrow, if SHIVAMAUTO opens on a positive note, our first target will be ₹39. If Target 1 is achieved, we will aim for Target 2 which is ₹39.

But if SHIVAMAUTO falls below the average value of ₹38.12, you can enter a sell side position with target number 1 - ₹38 and second target - ₹37 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 SHIVAMAUTO

Looking at SHIVAMAUTO, we've seen a Increasing 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, SHIVAMAUTO has been on a Downward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for SHIVAMAUTO is strong bearish.

Tomorrow's Volume based share price Forecast for SHIVAMAUTO

SHIVAMAUTO's Volume is currently in a Increasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a strong bearish trend. Volume trend strength over the last month compared to the last week is 53%.

Reversal detection for SHIVAMAUTO

Predicted trend chart of SHIVAMAUTO tomorrow for price forecast
SHIVAMAUTO may trend may continue to be bullish since stock is making higher highs and we can get target of ₹37 in morning tomorrow
Target 1 tomorrow39
Target 2 tomorrow39
Target 3 tomorrow39
 

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 SHIVAMAUTO'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 SHIVAMAUTO opens on a positive note, our first target will be ₹38.61. If Target 1 is achieved, we will aim for Target 2 which is ₹39.20.

But if SHIVAMAUTO falls below the average value of ₹38.12, you can enter a sell side position with target number 1 - ₹37.53 and second target - ₹37.04

SHIVAMAUTO's Weekly Targets
1st Up Target 39.47
2nd Up Target 40.90
1st Down Target 35.83
2nd Down Target 33.62

As the week for SHIVAMAUTO ended on bullish sentiments, we can expect further continuation of this sentiment. SHIVAMAUTO's initial target will be 39.47 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 35.83 in the upcoming week.

Weekly OHLC Values
Open 36.50
High 38.70
Low 35.06
Close 38.03

Week for SHIVAMAUTO started with an open price of 36.50, and the close was at 38.03. SHIVAMAUTO reached the highest of 38.70 and dipped lowest up to 35.06 last week. This indicates a bullish sentiment for the week.

SHIVAMAUTO full month swing targets
Monthly Up Target 1 43.11
Monthly Up Target 2 44.54
Monthly Down Target 1 32.19
Monthly Down Target 2 26.34

Targets of ₹43.11 can be expected to be reached in the coming month. Once SHIVAMAUTO achieved this target, we can aim for the next upside target of ₹44.54.

SHIVAMAUTO if fails to hold upside, down targets of ₹32.19 and ₹26.34 can be achieved by end of this month.

For complete three weeks if SHIVAMAUTO 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 SHIVAMAUTO

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MARUTI Maruti Suzuki India Limited Auto Manufacturers
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TATAMOTORS Tata Motors Limited Auto Manufacturers
TITAN Titan Company Limited Luxury Goods
BAJAJ-AUTO Bajaj Auto Limited Auto Manufacturers

Summary

SHIVAMAUTO is expected to reach the target of 38.61 in tomorrow's trading session.

After achieving the initial target in SHIVAMAUTO, we will aim for higher targets of 39.20 tomorrow.

However, if SHIVAMAUTO starts to trade below ₹38.12, then we will shift our focus to the sell side and aim for down targets of 37.53 and 37.04.