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

Sigachi Industries Limited

Symbol: NSE:SIGACHI

ISIN: INE0D0K01014

58.40

As on 2024-07-23

29.20 (52W Low) 95.90 (52W High)

SIGACHI's Today's Performance

Sigachi Industries Limited started the day by opening at 58.25 today 2024-07-23. Its shares reached a high of 59.99 and dipped to a low of 56.10 in intraday. When the markets closed, SIGACHI’s stock price settled at ₹58.40 per share. Also check out its key support and resistance levels.

SIGACHI Buy/Sell Targets

Tomorrow, buy SIGACHI when its price reaches ₹ 58.40 with a stop-loss order at ₹ 56.99. You can set the target price as ₹ 59.81 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 SIGACHI 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 SIGACHI

Downside Targets Value in ₹
Tomorrow Down Target 1 60
Tomorrow Down Target 2 62
Tomorrow Down Target 3 64

Important Levels for SIGACHI

Holding Levels Value in ₹
Tomorrow Up Target 1 56
Tomorrow Up Target 2 54
Tomorrow Up Target 3 52
Based on where the stock opens tomorrow, if SIGACHI opens on a positive note, our first target will be ₹60. If Target 1 is achieved, we will aim for Target 2 which is ₹62.

But if SIGACHI falls below the average value of ₹58.16, you can enter a sell side position with target number 1 - ₹56 and second target - ₹54 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 SIGACHI

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

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

Tomorrow's Volume based share price Forecast for SIGACHI

SIGACHI'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 422%.

Reversal detection for SIGACHI

Predicted trend chart of SIGACHI tomorrow for price forecast
SIGACHI may reverse its trend from upside (Short term bearish outlook) and we can get target of ₹58 in morning tomorrow
Target 1 tomorrow60
Target 2 tomorrow61
Target 3 tomorrow62
 

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 SIGACHI'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 SIGACHI opens on a positive note, our first target will be ₹60.23. If Target 1 is achieved, we will aim for Target 2 which is ₹62.05.

But if SIGACHI falls below the average value of ₹58.16, you can enter a sell side position with target number 1 - ₹56.34 and second target - ₹54.27

SIGACHI's Weekly Targets
1st Up Target 60.23
2nd Up Target 62.05
1st Down Target 56.34
2nd Down Target 54.27

As the week for SIGACHI ended on bullish sentiments, we can expect further continuation of this sentiment. SIGACHI's initial target will be 60.23 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 56.34 in the upcoming week.

Weekly OHLC Values
Open 58.30
High 59.99
Low 56.10
Close 58.40

Week for SIGACHI started with an open price of 58.30, and the close was at 58.40. SIGACHI reached the highest of 59.99 and dipped lowest up to 56.10 last week. This indicates a bullish sentiment for the week.

SIGACHI full month swing targets
Monthly Up Target 1 64.12
Monthly Up Target 2 65.94
Monthly Down Target 1 52.45
Monthly Down Target 2 46.49

Targets of ₹64.12 can be expected to be reached in the coming month. Once SIGACHI achieved this target, we can aim for the next upside target of ₹65.94.

SIGACHI if fails to hold upside, down targets of ₹52.45 and ₹46.49 can be achieved by end of this month.

For complete three weeks if SIGACHI 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 SIGACHI

Symbol Name Industry
SUNPHARMA Sun Pharmaceutical Industries Limited Drug Manufacturers - Specialty & Generic
CIPLA Cipla Limited Drug Manufacturers - General
DRREDDY Dr. Reddy's Laboratories Limited Drug Manufacturers - Specialty & Generic
ZYDUSLIFE Zydus Lifesciences Limited Drug Manufacturers - Specialty & Generic
APOLLOHOSP Apollo Hospitals Enterprise Limited Medical Care Facilities

Summary

SIGACHI is expected to reach the target of 60.23 in tomorrow's trading session.

After achieving the initial target in SIGACHI, we will aim for higher targets of 62.05 tomorrow.

However, if SIGACHI starts to trade below ₹58.16, then we will shift our focus to the sell side and aim for down targets of 56.34 and 54.27.