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

The South Indian Bank Limited

Symbol: NSE:SOUTHBANK

ISIN: INE683A01023

27.84

As on 2024-06-13

17.70 (52W Low) 40.15 (52W High)

SOUTHBANK's Today's Performance

The South Indian Bank Limited started the day by opening at 27.80 today 2024-06-13. Its shares reached a high of 28.15 and dipped to a low of 27.61 in intraday. When the markets closed, SOUTHBANK’s stock price settled at ₹27.84 per share. Also check out its key support and resistance levels.

SOUTHBANK Buy/Sell Targets

Tomorrow, buy SOUTHBANK when its price reaches ₹ 27.84 with a stop-loss order at ₹ 27.52. You can set the target price as ₹ 28.16 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 SOUTHBANK 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 SOUTHBANK

Downside Targets Value in ₹
Tomorrow Down Target 1 28
Tomorrow Down Target 2 28
Tomorrow Down Target 3 29

Important Levels for SOUTHBANK

Holding Levels Value in ₹
Tomorrow Up Target 1 28
Tomorrow Up Target 2 27
Tomorrow Up Target 3 27
Based on where the stock opens tomorrow, if SOUTHBANK opens on a positive note, our first target will be ₹28. If Target 1 is achieved, we will aim for Target 2 which is ₹28.

But if SOUTHBANK falls below the average value of ₹27.87, you can enter a sell side position with target number 1 - ₹28 and second target - ₹27 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 SOUTHBANK

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

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

Tomorrow's Volume based share price Forecast for SOUTHBANK

SOUTHBANK'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 101%.

Reversal detection for SOUTHBANK

Predicted trend chart of SOUTHBANK tomorrow for price forecast
SOUTHBANK may trend may continue to be bullish since stock is making higher highs and we can get target of ₹28 in morning tomorrow
Target 1 tomorrow28
Target 2 tomorrow28
Target 3 tomorrow28
 

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 SOUTHBANK'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 SOUTHBANK opens on a positive note, our first target will be ₹28.12. If Target 1 is achieved, we will aim for Target 2 which is ₹28.41.

But if SOUTHBANK falls below the average value of ₹27.87, you can enter a sell side position with target number 1 - ₹27.58 and second target - ₹27.33

SOUTHBANK's Weekly Targets
1st Up Target 28.29
2nd Up Target 28.75
1st Down Target 27.24
2nd Down Target 26.65

As the week for SOUTHBANK ended on bullish sentiments, we can expect further continuation of this sentiment. SOUTHBANK's initial target will be 28.29 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 27.24 in the upcoming week.

Weekly OHLC Values
Open 27.75
High 28.15
Low 27.10
Close 27.84

Week for SOUTHBANK started with an open price of 27.75, and the close was at 27.84. SOUTHBANK reached the highest of 28.15 and dipped lowest up to 27.10 last week. This indicates a bullish sentiment for the week.

SOUTHBANK full month swing targets
Monthly Up Target 1 29.34
Monthly Up Target 2 29.80
Monthly Down Target 1 26.19
Monthly Down Target 2 24.55

Targets of ₹29.34 can be expected to be reached in the coming month. Once SOUTHBANK achieved this target, we can aim for the next upside target of ₹29.80.

SOUTHBANK if fails to hold upside, down targets of ₹26.19 and ₹24.55 can be achieved by end of this month.

For complete three weeks if SOUTHBANK 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 SOUTHBANK

Symbol Name Industry
HDFCBANK HDFC Bank Limited Banks - Regional
ICICIBANK ICICI Bank Limited Banks - Regional
SBIN State Bank of India Banks - Regional
LICI Life Insurance Corporation Of India Insurance - Life
BAJFINANCE Bajaj Finance Limited Credit Services

Summary

SOUTHBANK is expected to reach the target of 28.12 in tomorrow's trading session.

After achieving the initial target in SOUTHBANK, we will aim for higher targets of 28.41 tomorrow.

However, if SOUTHBANK starts to trade below ₹27.87, then we will shift our focus to the sell side and aim for down targets of 27.58 and 27.33.