Price and trend forecast of SKYGOLD for Tomorrow, Weekly, Monthly
Sky Gold Limited
Symbol: NSE:SKYGOLD
ISIN: INE01IU01018
2,300.60
As on 2024-07-26
SKYGOLD's Today's Performance
Sky Gold Limited started the day by opening at 2,399.00 today 2024-07-26. Its shares reached a high of 2,442.50 and dipped to a low of 2,271.00 in intraday. When the markets closed, SKYGOLD’s stock price settled at ₹2,300.60 per share. Also check out its key support and resistance levels.
SKYGOLD Buy/Sell Targets
Tomorrow, sell SKYGOLD when its price reaches ₹ 2,300.60 with a stop-loss order at ₹ 2,382.90. You can set the target price as ₹ 2,218.30 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 levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.
Important Down levels for SKYGOLD
| Downside Targets | Value in ₹ |
|---|---|
| Tomorrow Down Target 1 | 2,405 |
| Tomorrow Down Target 2 | 2,510 |
| Tomorrow Down Target 3 | 2,577 |
Important Levels for SKYGOLD
| Holding Levels | Value in ₹ |
|---|---|
| Tomorrow Up Target 1 | 2,234 |
| Tomorrow Up Target 2 | 2,167 |
| Tomorrow Up Target 3 | 2,062 |
Based on where the stock opens tomorrow, if SKYGOLD opens on a positive note, our first target will be ₹2,405. If Target 1 is achieved, we will aim for Target 2 which is ₹2,510.
But if SKYGOLD falls below the average value of ₹2,338.03, you can enter a sell side position with target number 1 - ₹2,234 and second target - ₹2,167 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
SKYGOLD may trend may continue to be bearish since stock is making lower low and we can get target of ₹2292 in morning tomorrow
| Target 1 tomorrow | 2404 |
| Target 2 tomorrow | 2444 |
| Target 3 tomorrow | 2510 |
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 ₹2,405.07. If Target 1 is achieved, we will aim for Target 2 which is ₹2,509.53.
But if SKYGOLD falls below the average value of ₹2,338.03, you can enter a sell side position with target number 1 - ₹2,233.57 and second target - ₹2,166.53
SKYGOLD's Weekly Targets
| 1st Up Target | 2,525.03 |
| 2nd Up Target | 2,749.47 |
| 1st Down Target | 1,993.63 |
| 2nd Down Target | 1,686.67 |
As the week for SKYGOLD ended on bullish sentiments, we can expect further continuation of this sentiment. SKYGOLD's initial target will be 2,525.03 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 1,993.63 in the upcoming week.
Weekly OHLC Values
| Open | 2,048.00 |
| High | 2,442.50 |
| Low | 1,911.10 |
| Close | 2,300.60 |
Week for SKYGOLD started with an open price of 2,048.00, and the close was at 2,300.60. SKYGOLD reached the highest of 2,442.50 and dipped lowest up to 1,911.10 last week. This indicates a bullish sentiment for the week.
SKYGOLD full month swing targets
| Monthly Up Target 1 | 3,056.43 |
| Monthly Up Target 2 | 3,280.87 |
| Monthly Down Target 1 | 1,462.23 |
| Monthly Down Target 2 | 623.87 |
Targets of ₹3,056.43 can be expected to be reached in the coming month. Once SKYGOLD achieved this target, we can aim for the next upside target of ₹3,280.87.
SKYGOLD if fails to hold upside, down targets of ₹1,462.23 and ₹623.87 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
| Symbol | Name | Industry |
|---|---|---|
| MARUTI | Maruti Suzuki India Limited | Auto Manufacturers |
| TATAMTRDVR | Tata Motors Limited | Auto Manufacturers |
| 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 2,405.07 in tomorrow's trading session.
After achieving the initial target in SKYGOLD, we will aim for higher targets of 2,509.53 tomorrow.
However, if SKYGOLD starts to trade below ₹2,338.03, then we will shift our focus to the sell side and aim for down targets of 2,233.57 and 2,166.53.