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

Shree Digvijay Cement Co.Ltd

Symbol: NSE:SHREDIGCEM

ISIN: INE232A01011

112.20

As on 2024-04-16

65.40 (52W Low) 123.90 (52W High)

SHREDIGCEM's Today's Performance

Shree Digvijay Cement Co.Ltd started the day by opening at 110.90 today 2024-04-16. Its shares reached a high of 112.90 and dipped to a low of 110.10 in intraday. When the markets closed, SHREDIGCEM’s stock price settled at ₹112.20 per share. Also check out its key support and resistance levels.

SHREDIGCEM Buy/Sell Targets

Tomorrow, buy SHREDIGCEM when its price reaches ₹ 112.20 with a stop-loss order at ₹ 110.03. You can set the target price as ₹ 114.38 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 SHREDIGCEM 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 SHREDIGCEM

Resistance Levels Value in ₹
Tomorrow Resistance 1 113
Tomorrow Resistance 2 115
Tomorrow Resistance 3 116

Important Supports for SHREDIGCEM

Support Levels Value in ₹
Tomorrow Support 1 111
Tomorrow Support 2 109
Tomorrow Support 3 108
Based on where the stock opens tomorrow, if SHREDIGCEM opens on a positive note, our first target will be ₹113. If Target 1 is achieved, we will aim for Target 2 which is ₹115.

But if SHREDIGCEM falls below the average value of ₹111.73, you can enter a sell side position with target number 1 - ₹111 and second target - ₹109 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 SHREDIGCEM

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

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

Tomorrow's Volume based share price Forecast for SHREDIGCEM

SHREDIGCEM'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 -23%.

Reversal detection for SHREDIGCEM

Predicted trend chart of SHREDIGCEM tomorrow for price forecast
SHREDIGCEM may trend may continue to be bullish since stock is making higher highs and we can get target of ₹112 in morning tomorrow
Target 1 tomorrow113
Target 2 tomorrow113
Target 3 tomorrow115
 

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 SHREDIGCEM'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 SHREDIGCEM opens on a positive note, our first target will be ₹113.37. If Target 1 is achieved, we will aim for Target 2 which is ₹114.53.

But if SHREDIGCEM falls below the average value of ₹111.73, you can enter a sell side position with target number 1 - ₹110.57 and second target - ₹108.93

SHREDIGCEM's Weekly Targets
1st Up Target 114.65
2nd Up Target 117.10
1st Down Target 109.30
2nd Down Target 106.40

As the week for SHREDIGCEM ended on bearish sentiments, we can expect further continuation of this sentiment. SHREDIGCEM's initial target will be 114.65 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 109.30 in the upcoming week.

Weekly OHLC Values
Open 113.00
High 114.20
Low 108.85
Close 112.20

Week for SHREDIGCEM started with an open price of 113.00, and the close was at 112.20. SHREDIGCEM reached the highest of 114.20 and dipped lowest up to 108.85 last week. This indicates a bearish sentiment for the week.

SHREDIGCEM full month swing targets
Monthly Up Target 1 120.00
Monthly Up Target 2 122.45
Monthly Down Target 1 103.95
Monthly Down Target 2 95.70

Targets of ₹120.00 can be expected to be reached in the coming month. Once SHREDIGCEM achieved this target, we can aim for the next upside target of ₹122.45.

SHREDIGCEM if fails to hold upside, down targets of ₹103.95 and ₹95.70 can be achieved by end of this month.

For complete three weeks if SHREDIGCEM 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 SHREDIGCEM

Symbol Name Industry
ULTRACEMCO UltraTech Cement Limited Building Materials
ASIANPAINT Asian Paints Limited Specialty Chemicals
JSWSTEEL JSW Steel Limited Steel
TATASTEEL Tata Steel Limited Steel
GRASIM Grasim Industries Limited Building Materials

Summary

SHREDIGCEM is expected to reach the target of 113.37 in tomorrow's trading session.

After achieving the initial target in SHREDIGCEM, we will aim for higher targets of 114.53 tomorrow.

However, if SHREDIGCEM starts to trade below ₹111.73, then we will shift our focus to the sell side and aim for down targets of 110.57 and 108.93.