Stock Information Portal

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

STEEL EXCHANGE INDIA LIMITED

Symbol: NSE:STEELXIND

ISIN: INE503B01021

14.00

As on 2024-04-24

7.80 (52W Low) 18.40 (52W High)

STEELXIND's Today's Performance

STEEL EXCHANGE INDIA LIMITED started the day by opening at 14.20 today 2024-04-24. Its shares reached a high of 14.25 and dipped to a low of 13.90 in intraday. When the markets closed, STEELXIND’s stock price settled at ₹14.00 per share. Also check out its key support and resistance levels.

STEELXIND Buy/Sell Targets

Tomorrow, sell STEELXIND when its price reaches ₹ 14.00 with a stop-loss order at ₹ 14.17. You can set the target price as ₹ 13.83 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 STEELXIND 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 STEELXIND

Downside Targets Value in ₹
Tomorrow Down Target 1 14
Tomorrow Down Target 2 14
Tomorrow Down Target 3 15

Important Levels for STEELXIND

Holding Levels Value in ₹
Tomorrow Up Target 1 14
Tomorrow Up Target 2 14
Tomorrow Up Target 3 14
Based on where the stock opens tomorrow, if STEELXIND opens on a positive note, our first target will be ₹14. If Target 1 is achieved, we will aim for Target 2 which is ₹14.

But if STEELXIND falls below the average value of ₹14.05, you can enter a sell side position with target number 1 - ₹14 and second target - ₹14 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 STEELXIND

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

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

Tomorrow's Volume based share price Forecast for STEELXIND

STEELXIND'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 1%.

Reversal detection for STEELXIND

Predicted trend chart of STEELXIND tomorrow for price forecast
STEELXIND may trend may continue to be bearish since stock is making lower low and we can get target of ₹14 in morning tomorrow
Target 1 tomorrow14
Target 2 tomorrow14
Target 3 tomorrow14
 

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 STEELXIND'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 STEELXIND opens on a positive note, our first target will be ₹14.20. If Target 1 is achieved, we will aim for Target 2 which is ₹14.40.

But if STEELXIND falls below the average value of ₹14.05, you can enter a sell side position with target number 1 - ₹13.85 and second target - ₹13.70

STEELXIND's Weekly Targets
1st Up Target 14.27
2nd Up Target 14.53
1st Down Target 13.77
2nd Down Target 13.53

As the week for STEELXIND ended on bullish sentiments, we can expect further continuation of this sentiment. STEELXIND's initial target will be 14.27 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 13.77 in the upcoming week.

Weekly OHLC Values
Open 13.90
High 14.30
Low 13.80
Close 14.00

Week for STEELXIND started with an open price of 13.90, and the close was at 14.00. STEELXIND reached the highest of 14.30 and dipped lowest up to 13.80 last week. This indicates a bullish sentiment for the week.

STEELXIND full month swing targets
Monthly Up Target 1 14.77
Monthly Up Target 2 15.03
Monthly Down Target 1 13.27
Monthly Down Target 2 12.53

Targets of ₹14.77 can be expected to be reached in the coming month. Once STEELXIND achieved this target, we can aim for the next upside target of ₹15.03.

STEELXIND if fails to hold upside, down targets of ₹13.27 and ₹12.53 can be achieved by end of this month.

For complete three weeks if STEELXIND 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 STEELXIND

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

STEELXIND is expected to reach the target of 14.20 in tomorrow's trading session.

After achieving the initial target in STEELXIND, we will aim for higher targets of 14.40 tomorrow.

However, if STEELXIND starts to trade below ₹14.05, then we will shift our focus to the sell side and aim for down targets of 13.85 and 13.70.