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

Steelcast Limited

Symbol: NSE:STEELCAS

ISIN: INE124E01020

637.10

As on 2024-07-19

473.75 (52W Low) 747.00 (52W High)

STEELCAS's Today's Performance

Steelcast Limited started the day by opening at 651.60 today 2024-07-19. Its shares reached a high of 654.75 and dipped to a low of 633.00 in intraday. When the markets closed, STEELCAS’s stock price settled at ₹637.10 per share. Also check out its key support and resistance levels.

STEELCAS Buy/Sell Targets

Tomorrow, sell STEELCAS when its price reaches ₹ 637.10 with a stop-loss order at ₹ 651.66. You can set the target price as ₹ 622.54 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 STEELCAS 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 STEELCAS

Downside Targets Value in ₹
Tomorrow Down Target 1 650
Tomorrow Down Target 2 663
Tomorrow Down Target 3 672

Important Levels for STEELCAS

Holding Levels Value in ₹
Tomorrow Up Target 1 628
Tomorrow Up Target 2 620
Tomorrow Up Target 3 607
Based on where the stock opens tomorrow, if STEELCAS opens on a positive note, our first target will be ₹650. If Target 1 is achieved, we will aim for Target 2 which is ₹663.

But if STEELCAS falls below the average value of ₹641.62, you can enter a sell side position with target number 1 - ₹628 and second target - ₹620 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 STEELCAS

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

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

Tomorrow's Volume based share price Forecast for STEELCAS

STEELCAS'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 -9%.

Reversal detection for STEELCAS

Predicted trend chart of STEELCAS tomorrow for price forecast
STEELCAS may trend may continue to be bearish since stock is making lower low and we can get target of ₹660 in morning tomorrow
Target 1 tomorrow650
Target 2 tomorrow655
Target 3 tomorrow663
 

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 STEELCAS'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 STEELCAS opens on a positive note, our first target will be ₹650.23. If Target 1 is achieved, we will aim for Target 2 which is ₹663.37.

But if STEELCAS falls below the average value of ₹641.62, you can enter a sell side position with target number 1 - ₹628.48 and second target - ₹619.87

STEELCAS's Weekly Targets
1st Up Target 675.20
2nd Up Target 713.30
1st Down Target 608.80
2nd Down Target 580.50

As the week for STEELCAS ended on bearish sentiments, we can expect further continuation of this sentiment. STEELCAS's initial target will be 675.20 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 608.80 in the upcoming week.

Weekly OHLC Values
Open 661.30
High 685.00
Low 618.60
Close 637.10

Week for STEELCAS started with an open price of 661.30, and the close was at 637.10. STEELCAS reached the highest of 685.00 and dipped lowest up to 618.60 last week. This indicates a bearish sentiment for the week.

STEELCAS full month swing targets
Monthly Up Target 1 741.60
Monthly Up Target 2 779.70
Monthly Down Target 1 542.40
Monthly Down Target 2 447.70

Targets of ₹741.60 can be expected to be reached in the coming month. Once STEELCAS achieved this target, we can aim for the next upside target of ₹779.70.

STEELCAS if fails to hold upside, down targets of ₹542.40 and ₹447.70 can be achieved by end of this month.

For complete three weeks if STEELCAS 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

STEELCAS is expected to reach the target of 650.23 in tomorrow's trading session.

After achieving the initial target in STEELCAS, we will aim for higher targets of 663.37 tomorrow.

However, if STEELCAS starts to trade below ₹641.62, then we will shift our focus to the sell side and aim for down targets of 628.48 and 619.87.