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

Star Cement Limited

Symbol: NSE:STARCEMENT

ISIN: INE460H01021

219.80

As on 2024-05-17

122.00 (52W Low) 241.70 (52W High)

STARCEMENT's Today's Performance

Star Cement Limited started the day by opening at 217.15 today 2024-05-17. Its shares reached a high of 220.90 and dipped to a low of 216.10 in intraday. When the markets closed, STARCEMENT’s stock price settled at ₹219.80 per share. Also check out its key support and resistance levels.

STARCEMENT Buy/Sell Targets

Tomorrow, buy STARCEMENT when its price reaches ₹ 219.80 with a stop-loss order at ₹ 217.08. You can set the target price as ₹ 222.53 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 STARCEMENT 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 STARCEMENT

Downside Targets Value in ₹
Tomorrow Down Target 1 222
Tomorrow Down Target 2 224
Tomorrow Down Target 3 227

Important Levels for STARCEMENT

Holding Levels Value in ₹
Tomorrow Up Target 1 217
Tomorrow Up Target 2 214
Tomorrow Up Target 3 212
Based on where the stock opens tomorrow, if STARCEMENT opens on a positive note, our first target will be ₹222. If Target 1 is achieved, we will aim for Target 2 which is ₹224.

But if STARCEMENT falls below the average value of ₹218.93, you can enter a sell side position with target number 1 - ₹217 and second target - ₹214 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 STARCEMENT

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

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

Tomorrow's Volume based share price Forecast for STARCEMENT

STARCEMENT'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 21%.

Reversal detection for STARCEMENT

Predicted trend chart of STARCEMENT tomorrow for price forecast
STARCEMENT may trend may continue to be bullish since stock is making higher highs and we can get target of ₹218 in morning tomorrow
Target 1 tomorrow221
Target 2 tomorrow222
Target 3 tomorrow224
 

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 STARCEMENT'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 STARCEMENT opens on a positive note, our first target will be ₹221.77. If Target 1 is achieved, we will aim for Target 2 which is ₹223.73.

But if STARCEMENT falls below the average value of ₹218.93, you can enter a sell side position with target number 1 - ₹216.97 and second target - ₹214.13

STARCEMENT's Weekly Targets
1st Up Target 223.93
2nd Up Target 228.07
1st Down Target 215.43
2nd Down Target 211.07

As the week for STARCEMENT ended on bullish sentiments, we can expect further continuation of this sentiment. STARCEMENT's initial target will be 223.93 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 215.43 in the upcoming week.

Weekly OHLC Values
Open 219.00
High 223.70
Low 215.20
Close 219.80

Week for STARCEMENT started with an open price of 219.00, and the close was at 219.80. STARCEMENT reached the highest of 223.70 and dipped lowest up to 215.20 last week. This indicates a bullish sentiment for the week.

STARCEMENT full month swing targets
Monthly Up Target 1 232.43
Monthly Up Target 2 236.57
Monthly Down Target 1 206.93
Monthly Down Target 2 194.07

Targets of ₹232.43 can be expected to be reached in the coming month. Once STARCEMENT achieved this target, we can aim for the next upside target of ₹236.57.

STARCEMENT if fails to hold upside, down targets of ₹206.93 and ₹194.07 can be achieved by end of this month.

For complete three weeks if STARCEMENT 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 STARCEMENT

Symbol Name Industry
ULTRACEMCO UltraTech Cement Limited Building Materials
ASIANPAINT Asian Paints Limited Specialty Chemicals
JSWSTEEL JSW Steel Limited Steel
TATASTEEL Tata Steel Limited Steel
GRASIM Grasim Industries Limited Building Materials

Summary

STARCEMENT is expected to reach the target of 221.77 in tomorrow's trading session.

After achieving the initial target in STARCEMENT, we will aim for higher targets of 223.73 tomorrow.

However, if STARCEMENT starts to trade below ₹218.93, then we will shift our focus to the sell side and aim for down targets of 216.97 and 214.13.