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

Summit Securities Limited

Symbol: NSE:SUMMITSEC

ISIN: INE519C01017

1,223.45

As on 2024-04-16

581.10 (52W Low) 1,508.00 (52W High)

SUMMITSEC's Today's Performance

Summit Securities Limited started the day by opening at 1,228.00 today 2024-04-16. Its shares reached a high of 1,230.95 and dipped to a low of 1,204.60 in intraday. When the markets closed, SUMMITSEC’s stock price settled at ₹1,223.45 per share. Also check out its key support and resistance levels.

SUMMITSEC Buy/Sell Targets

Tomorrow, buy SUMMITSEC when its price reaches ₹ 1,223.45 with a stop-loss order at ₹ 1,199.00. You can set the target price as ₹ 1,247.90 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 SUMMITSEC 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 SUMMITSEC

Resistance Levels Value in ₹
Tomorrow Resistance 1 1,235
Tomorrow Resistance 2 1,246
Tomorrow Resistance 3 1,261

Important Supports for SUMMITSEC

Support Levels Value in ₹
Tomorrow Support 1 1,208
Tomorrow Support 2 1,193
Tomorrow Support 3 1,182
Based on where the stock opens tomorrow, if SUMMITSEC opens on a positive note, our first target will be ₹1,235. If Target 1 is achieved, we will aim for Target 2 which is ₹1,246.

But if SUMMITSEC falls below the average value of ₹1,219.67, you can enter a sell side position with target number 1 - ₹1,208 and second target - ₹1,193 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 SUMMITSEC

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

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

Tomorrow's Volume based share price Forecast for SUMMITSEC

SUMMITSEC'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 191%.

Reversal detection for SUMMITSEC

Predicted trend chart of SUMMITSEC tomorrow for price forecast
SUMMITSEC may trend may continue to be bullish since stock is making higher highs and we can get target of ₹1221 in morning tomorrow
Target 1 tomorrow1230
Target 2 tomorrow1236
Target 3 tomorrow1246
 

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 SUMMITSEC'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 SUMMITSEC opens on a positive note, our first target will be ₹1,234.73. If Target 1 is achieved, we will aim for Target 2 which is ₹1,246.02.

But if SUMMITSEC falls below the average value of ₹1,219.67, you can enter a sell side position with target number 1 - ₹1,208.38 and second target - ₹1,193.32

SUMMITSEC's Weekly Targets
1st Up Target 1,246.90
2nd Up Target 1,270.35
1st Down Target 1,201.05
2nd Down Target 1,178.65

As the week for SUMMITSEC ended on bullish sentiments, we can expect further continuation of this sentiment. SUMMITSEC's initial target will be 1,246.90 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 1,201.05 in the upcoming week.

Weekly OHLC Values
Open 1,220.05
High 1,247.95
Low 1,202.10
Close 1,223.45

Week for SUMMITSEC started with an open price of 1,220.05, and the close was at 1,223.45. SUMMITSEC reached the highest of 1,247.95 and dipped lowest up to 1,202.10 last week. This indicates a bullish sentiment for the week.

SUMMITSEC full month swing targets
Monthly Up Target 1 1,292.75
Monthly Up Target 2 1,316.20
Monthly Down Target 1 1,155.20
Monthly Down Target 2 1,086.95

Targets of ₹1,292.75 can be expected to be reached in the coming month. Once SUMMITSEC achieved this target, we can aim for the next upside target of ₹1,316.20.

SUMMITSEC if fails to hold upside, down targets of ₹1,155.20 and ₹1,086.95 can be achieved by end of this month.

For complete three weeks if SUMMITSEC 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 SUMMITSEC

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SBIN State Bank of India Banks - Regional
LICI Life Insurance Corporation Of India Insurance - Life
BAJFINANCE Bajaj Finance Limited Credit Services

Summary

SUMMITSEC is expected to reach the target of 1,234.73 in tomorrow's trading session.

After achieving the initial target in SUMMITSEC, we will aim for higher targets of 1,246.02 tomorrow.

However, if SUMMITSEC starts to trade below ₹1,219.67, then we will shift our focus to the sell side and aim for down targets of 1,208.38 and 1,193.32.