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

Sona BLW Precision Forgings Limited

Symbol: NSE:SONACOMS

ISIN: INE073K01018

677.40

As on 2024-04-16

437.60 (52W Low) 718.85 (52W High)

SONACOMS's Today's Performance

Sona BLW Precision Forgings Limited started the day by opening at 660.00 today 2024-04-16. Its shares reached a high of 687.90 and dipped to a low of 658.10 in intraday. When the markets closed, SONACOMS’s stock price settled at ₹677.40 per share. Also check out its key support and resistance levels.

SONACOMS Buy/Sell Targets

Tomorrow, buy SONACOMS when its price reaches ₹ 677.40 with a stop-loss order at ₹ 660.27. You can set the target price as ₹ 694.53 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 SONACOMS 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 SONACOMS

Resistance Levels Value in ₹
Tomorrow Resistance 1 691
Tomorrow Resistance 2 704
Tomorrow Resistance 3 721

Important Supports for SONACOMS

Support Levels Value in ₹
Tomorrow Support 1 661
Tomorrow Support 2 645
Tomorrow Support 3 631
Based on where the stock opens tomorrow, if SONACOMS opens on a positive note, our first target will be ₹691. If Target 1 is achieved, we will aim for Target 2 which is ₹704.

But if SONACOMS falls below the average value of ₹674.47, you can enter a sell side position with target number 1 - ₹661 and second target - ₹645 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 SONACOMS

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

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

Tomorrow's Volume based share price Forecast for SONACOMS

SONACOMS'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 42%.

Reversal detection for SONACOMS

Predicted trend chart of SONACOMS tomorrow for price forecast
SONACOMS may trend may continue to be bullish since stock is making higher highs and we can get target of ₹666 in morning tomorrow
Target 1 tomorrow686
Target 2 tomorrow693
Target 3 tomorrow704
 

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 SONACOMS'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 SONACOMS opens on a positive note, our first target will be ₹690.83. If Target 1 is achieved, we will aim for Target 2 which is ₹704.27.

But if SONACOMS falls below the average value of ₹674.47, you can enter a sell side position with target number 1 - ₹661.03 and second target - ₹644.67

SONACOMS's Weekly Targets
1st Up Target 692.87
2nd Up Target 708.33
1st Down Target 656.97
2nd Down Target 636.53

As the week for SONACOMS ended on bullish sentiments, we can expect further continuation of this sentiment. SONACOMS's initial target will be 692.87 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 656.97 in the upcoming week.

Weekly OHLC Values
Open 662.05
High 687.90
Low 652.00
Close 677.40

Week for SONACOMS started with an open price of 662.05, and the close was at 677.40. SONACOMS reached the highest of 687.90 and dipped lowest up to 652.00 last week. This indicates a bullish sentiment for the week.

SONACOMS full month swing targets
Monthly Up Target 1 728.77
Monthly Up Target 2 744.23
Monthly Down Target 1 621.07
Monthly Down Target 2 564.73

Targets of ₹728.77 can be expected to be reached in the coming month. Once SONACOMS achieved this target, we can aim for the next upside target of ₹744.23.

SONACOMS if fails to hold upside, down targets of ₹621.07 and ₹564.73 can be achieved by end of this month.

For complete three weeks if SONACOMS 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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Summary

SONACOMS is expected to reach the target of 690.83 in tomorrow's trading session.

After achieving the initial target in SONACOMS, we will aim for higher targets of 704.27 tomorrow.

However, if SONACOMS starts to trade below ₹674.47, then we will shift our focus to the sell side and aim for down targets of 661.03 and 644.67.