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

S. P. Apparels Limited

Symbol: NSE:SPAL

ISIN: INE212I01016

596.60

As on 2024-04-12

322.00 (52W Low) 674.85 (52W High)

SPAL's Today's Performance

S. P. Apparels Limited started the day by opening at 600.00 today 2024-04-12. Its shares reached a high of 608.80 and dipped to a low of 591.50 in intraday. When the markets closed, SPAL’s stock price settled at ₹596.60 per share. Also check out its key support and resistance levels.

SPAL Buy/Sell Targets

Tomorrow, sell SPAL when its price reaches ₹ 596.60 with a stop-loss order at ₹ 604.01. You can set the target price as ₹ 589.19 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 SPAL 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 SPAL

Resistance Levels Value in ₹
Tomorrow Resistance 1 606
Tomorrow Resistance 2 616
Tomorrow Resistance 3 624

Important Supports for SPAL

Support Levels Value in ₹
Tomorrow Support 1 589
Tomorrow Support 2 582
Tomorrow Support 3 572
Based on where the stock opens tomorrow, if SPAL opens on a positive note, our first target will be ₹606. If Target 1 is achieved, we will aim for Target 2 which is ₹616.

But if SPAL falls below the average value of ₹598.97, you can enter a sell side position with target number 1 - ₹589 and second target - ₹582 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 SPAL

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

Based on this, the predicted sentiment for SPAL is moderate bearish.

Tomorrow's Volume based share price Forecast for SPAL

SPAL's Volume is currently in a Decreasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a moderate bearish trend. Volume trend strength over the last month compared to the last week is 4%.

Reversal detection for SPAL

Predicted trend chart of SPAL tomorrow for price forecast
SPAL may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹607 in morning tomorrow
Target 1 tomorrow606
Target 2 tomorrow610
Target 3 tomorrow616
 

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 SPAL'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 SPAL opens on a positive note, our first target will be ₹606.43. If Target 1 is achieved, we will aim for Target 2 which is ₹616.27.

But if SPAL falls below the average value of ₹598.97, you can enter a sell side position with target number 1 - ₹589.13 and second target - ₹581.67

SPAL's Weekly Targets
1st Up Target 610.93
2nd Up Target 625.27
1st Down Target 586.88
2nd Down Target 577.17

As the week for SPAL ended on bearish sentiments, we can expect further continuation of this sentiment. SPAL's initial target will be 610.93 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 586.88 in the upcoming week.

Weekly OHLC Values
Open 604.10
High 615.55
Low 591.50
Close 596.60

Week for SPAL started with an open price of 604.10, and the close was at 596.60. SPAL reached the highest of 615.55 and dipped lowest up to 591.50 last week. This indicates a bearish sentiment for the week.

SPAL full month swing targets
Monthly Up Target 1 634.98
Monthly Up Target 2 649.32
Monthly Down Target 1 562.83
Monthly Down Target 2 529.07

Targets of ₹634.98 can be expected to be reached in the coming month. Once SPAL achieved this target, we can aim for the next upside target of ₹649.32.

SPAL if fails to hold upside, down targets of ₹562.83 and ₹529.07 can be achieved by end of this month.

For complete three weeks if SPAL 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

SPAL is expected to reach the target of 606.43 in tomorrow's trading session.

After achieving the initial target in SPAL, we will aim for higher targets of 616.27 tomorrow.

However, if SPAL starts to trade below ₹598.97, then we will shift our focus to the sell side and aim for down targets of 589.13 and 581.67.