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

Sky Gold Limited

Symbol: NSE:SKYGOLD

ISIN: INE01IU01018

1,099.30

As on 2024-04-12

247.00 (52W Low) 1,299.35 (52W High)

SKYGOLD's Today's Performance

Sky Gold Limited started the day by opening at 1,190.75 today 2024-04-12. Its shares reached a high of 1,190.75 and dipped to a low of 1,090.00 in intraday. When the markets closed, SKYGOLD’s stock price settled at ₹1,099.30 per share. Also check out its key support and resistance levels.

SKYGOLD Buy/Sell Targets

Tomorrow, sell SKYGOLD when its price reaches ₹ 1,099.30 with a stop-loss order at ₹ 1,145.76. You can set the target price as ₹ 1,052.84 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 SKYGOLD 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 SKYGOLD

Resistance Levels Value in ₹
Tomorrow Resistance 1 1,163
Tomorrow Resistance 2 1,227
Tomorrow Resistance 3 1,264

Important Supports for SKYGOLD

Support Levels Value in ₹
Tomorrow Support 1 1,063
Tomorrow Support 2 1,026
Tomorrow Support 3 962
Based on where the stock opens tomorrow, if SKYGOLD opens on a positive note, our first target will be ₹1,163. If Target 1 is achieved, we will aim for Target 2 which is ₹1,227.

But if SKYGOLD falls below the average value of ₹1,126.68, you can enter a sell side position with target number 1 - ₹1,063 and second target - ₹1,026 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 SKYGOLD

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

Based on this, the predicted sentiment for SKYGOLD is strong bullish.

Tomorrow's Volume based share price Forecast for SKYGOLD

SKYGOLD's Volume is currently in a Increasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a strong bullish trend. Volume trend strength over the last month compared to the last week is 561%.

Reversal detection for SKYGOLD

Predicted trend chart of SKYGOLD tomorrow for price forecast
SKYGOLD may trend may continue to be bearish since stock is making lower low and we can get target of ₹1105 in morning tomorrow
Target 1 tomorrow1165
Target 2 tomorrow1189
Target 3 tomorrow1227
 

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 SKYGOLD'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 SKYGOLD opens on a positive note, our first target will be ₹1,163.37. If Target 1 is achieved, we will aim for Target 2 which is ₹1,227.43.

But if SKYGOLD falls below the average value of ₹1,126.68, you can enter a sell side position with target number 1 - ₹1,062.62 and second target - ₹1,025.93

SKYGOLD's Weekly Targets
1st Up Target 1,180.03
2nd Up Target 1,260.77
1st Down Target 1,029.28
2nd Down Target 959.27

As the week for SKYGOLD ended on bearish sentiments, we can expect further continuation of this sentiment. SKYGOLD's initial target will be 1,180.03 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 1,029.28 in the upcoming week.

Weekly OHLC Values
Open 1,160.00
High 1,190.75
Low 1,040.00
Close 1,099.30

Week for SKYGOLD started with an open price of 1,160.00, and the close was at 1,099.30. SKYGOLD reached the highest of 1,190.75 and dipped lowest up to 1,040.00 last week. This indicates a bearish sentiment for the week.

SKYGOLD full month swing targets
Monthly Up Target 1 1,330.78
Monthly Up Target 2 1,411.52
Monthly Down Target 1 878.53
Monthly Down Target 2 657.77

Targets of ₹1,330.78 can be expected to be reached in the coming month. Once SKYGOLD achieved this target, we can aim for the next upside target of ₹1,411.52.

SKYGOLD if fails to hold upside, down targets of ₹878.53 and ₹657.77 can be achieved by end of this month.

For complete three weeks if SKYGOLD 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 SKYGOLD

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TATAMOTORS Tata Motors Limited Auto Manufacturers
TITAN Titan Company Limited Luxury Goods
BAJAJ-AUTO Bajaj Auto Limited Auto Manufacturers

Summary

SKYGOLD is expected to reach the target of 1,163.37 in tomorrow's trading session.

After achieving the initial target in SKYGOLD, we will aim for higher targets of 1,227.43 tomorrow.

However, if SKYGOLD starts to trade below ₹1,126.68, then we will shift our focus to the sell side and aim for down targets of 1,062.62 and 1,025.93.