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

Savita Oil Technologies Limited

Symbol: NSE:SOTL

ISIN: INE035D01020

514.30

As on 2024-06-13

279.75 (52W Low) 614.90 (52W High)

SOTL's Today's Performance

Savita Oil Technologies Limited started the day by opening at 515.00 today 2024-06-13. Its shares reached a high of 519.85 and dipped to a low of 510.30 in intraday. When the markets closed, SOTL’s stock price settled at ₹514.30 per share. Also check out its key support and resistance levels.

SOTL Buy/Sell Targets

Tomorrow, buy SOTL when its price reaches ₹ 514.30 with a stop-loss order at ₹ 507.81. You can set the target price as ₹ 520.79 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 SOTL 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 SOTL

Downside Targets Value in ₹
Tomorrow Down Target 1 519
Tomorrow Down Target 2 524
Tomorrow Down Target 3 529

Important Levels for SOTL

Holding Levels Value in ₹
Tomorrow Up Target 1 510
Tomorrow Up Target 2 505
Tomorrow Up Target 3 500
Based on where the stock opens tomorrow, if SOTL opens on a positive note, our first target will be ₹519. If Target 1 is achieved, we will aim for Target 2 which is ₹524.

But if SOTL falls below the average value of ₹514.82, you can enter a sell side position with target number 1 - ₹510 and second target - ₹505 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 SOTL

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

Based on this, the predicted sentiment for SOTL is moderate bullish.

Tomorrow's Volume based share price Forecast for SOTL

SOTL's Volume is currently in a Decreasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a moderate bullish trend. Volume trend strength over the last month compared to the last week is -36%.

Reversal detection for SOTL

Predicted trend chart of SOTL tomorrow for price forecast
SOTL may trend may continue to be bullish since stock is making higher highs and we can get target of ₹516 in morning tomorrow
Target 1 tomorrow518
Target 2 tomorrow521
Target 3 tomorrow524
 

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 SOTL'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 SOTL opens on a positive note, our first target will be ₹519.33. If Target 1 is achieved, we will aim for Target 2 which is ₹524.37.

But if SOTL falls below the average value of ₹514.82, you can enter a sell side position with target number 1 - ₹509.78 and second target - ₹505.27

SOTL's Weekly Targets
1st Up Target 528.52
2nd Up Target 542.73
1st Down Target 500.97
2nd Down Target 487.63

As the week for SOTL ended on bullish sentiments, we can expect further continuation of this sentiment. SOTL's initial target will be 528.52 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 500.97 in the upcoming week.

Weekly OHLC Values
Open 511.90
High 529.40
Low 501.85
Close 514.30

Week for SOTL started with an open price of 511.90, and the close was at 514.30. SOTL reached the highest of 529.40 and dipped lowest up to 501.85 last week. This indicates a bullish sentiment for the week.

SOTL full month swing targets
Monthly Up Target 1 556.07
Monthly Up Target 2 570.28
Monthly Down Target 1 473.42
Monthly Down Target 2 432.53

Targets of ₹556.07 can be expected to be reached in the coming month. Once SOTL achieved this target, we can aim for the next upside target of ₹570.28.

SOTL if fails to hold upside, down targets of ₹473.42 and ₹432.53 can be achieved by end of this month.

For complete three weeks if SOTL 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 SOTL

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GRASIM Grasim Industries Limited Building Materials

Summary

SOTL is expected to reach the target of 519.33 in tomorrow's trading session.

After achieving the initial target in SOTL, we will aim for higher targets of 524.37 tomorrow.

However, if SOTL starts to trade below ₹514.82, then we will shift our focus to the sell side and aim for down targets of 509.78 and 505.27.