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

Shree Rama Multi-Tech Limited

Symbol: NSE:SHREERAMA

ISIN: INE879A01019

23.80

As on 2024-04-24

9.85 (52W Low) 35.45 (52W High)

SHREERAMA's Today's Performance

Shree Rama Multi-Tech Limited started the day by opening at 24.20 today 2024-04-24. Its shares reached a high of 24.20 and dipped to a low of 23.80 in intraday. When the markets closed, SHREERAMA’s stock price settled at ₹23.80 per share. Also check out its key support and resistance levels.

SHREERAMA Buy/Sell Targets

Tomorrow, sell SHREERAMA when its price reaches ₹ 23.80 with a stop-loss order at ₹ 23.97. You can set the target price as ₹ 23.63 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 SHREERAMA 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 SHREERAMA

Downside Targets Value in ₹
Tomorrow Down Target 1 24
Tomorrow Down Target 2 24
Tomorrow Down Target 3 24

Important Levels for SHREERAMA

Holding Levels Value in ₹
Tomorrow Up Target 1 24
Tomorrow Up Target 2 24
Tomorrow Up Target 3 23
Based on where the stock opens tomorrow, if SHREERAMA opens on a positive note, our first target will be ₹24. If Target 1 is achieved, we will aim for Target 2 which is ₹24.

But if SHREERAMA falls below the average value of ₹23.93, you can enter a sell side position with target number 1 - ₹24 and second target - ₹24 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 SHREERAMA

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

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

Tomorrow's Volume based share price Forecast for SHREERAMA

SHREERAMA's Volume is currently in a Increasing 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 -26%.

Reversal detection for SHREERAMA

Predicted trend chart of SHREERAMA tomorrow for price forecast
SHREERAMA may trend may continue to be bearish since stock is making lower low and we can get target of ₹24 in morning tomorrow
Target 1 tomorrow24
Target 2 tomorrow24
Target 3 tomorrow24
 

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 SHREERAMA'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 SHREERAMA opens on a positive note, our first target will be ₹24.07. If Target 1 is achieved, we will aim for Target 2 which is ₹24.33.

But if SHREERAMA falls below the average value of ₹23.93, you can enter a sell side position with target number 1 - ₹23.67 and second target - ₹23.53

SHREERAMA's Weekly Targets
1st Up Target 24.10
2nd Up Target 24.40
1st Down Target 23.60
2nd Down Target 23.40

As the week for SHREERAMA ended on bearish sentiments, we can expect further continuation of this sentiment. SHREERAMA's initial target will be 24.10 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 23.60 in the upcoming week.

Weekly OHLC Values
Open 23.95
High 24.20
Low 23.70
Close 23.80

Week for SHREERAMA started with an open price of 23.95, and the close was at 23.80. SHREERAMA reached the highest of 24.20 and dipped lowest up to 23.70 last week. This indicates a bearish sentiment for the week.

SHREERAMA full month swing targets
Monthly Up Target 1 24.60
Monthly Up Target 2 24.90
Monthly Down Target 1 23.10
Monthly Down Target 2 22.40

Targets of ₹24.60 can be expected to be reached in the coming month. Once SHREERAMA achieved this target, we can aim for the next upside target of ₹24.90.

SHREERAMA if fails to hold upside, down targets of ₹23.10 and ₹22.40 can be achieved by end of this month.

For complete three weeks if SHREERAMA 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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BAJAJ-AUTO Bajaj Auto Limited Auto Manufacturers

Summary

SHREERAMA is expected to reach the target of 24.07 in tomorrow's trading session.

After achieving the initial target in SHREERAMA, we will aim for higher targets of 24.33 tomorrow.

However, if SHREERAMA starts to trade below ₹23.93, then we will shift our focus to the sell side and aim for down targets of 23.67 and 23.53.