In trading, it's important that you do your homework by marking possible demand and supply levels on charts every day before the market opens. So if you will trade shaily tomorrow, these are its important support and resistance levels which will act as profit booking levels.

Note that these daily levels are valid for Mon 23 December 2024. Make sure you mark these levels on the stock chart of Shaily Engineering Plastics Limited. Also check its technical forecast for tomorrow.

Intraday Support Levels for SHAILY

Level	Value
Support 1 (S1)	1,409.08
Support 2 (S2)	1,370.22
Support 3 (S3)	1,311.83

Tomorrow, ₹1,409.08 will act as the first strong support level for SHAILY. However, if it fails to sustain above Support 1, it may result in further downfall in stock reaching down to ₹1,311.83. These S&R levels can also be used as entry, targets and stop loss. Intraday traders can sell SHAILY when it closes below ₹1,409.08 and aim for ₹1,370.22 as the initial and ₹1,311.83 as the secondary profit booking level.

Resistance Levels for Tomorrow

Level	Value
Resistance 1 (R1)	₹1,506.33
Resistance 2 (R2)	₹1,564.72
Resistance 3 (R3)	₹1,603.58

If SHAILY moves upwards, it may face resistance at ₹1,506.33, and if the stock breaks out, the next resistance level will be ₹1,564.72.

SHAILY (Shaily Engineering Plastics Limited) Weekly Support and Resistance Levels

Type	Level	Value
Support	S1	₹1,384.60
Support	S2	₹1,279.80
Support	S3	₹1,224.60
Resistance	R1	₹1,544.60
Resistance	R2	₹1,599.80
Resistance	R3	₹1,704.60

Considering downside probability, if SHAILY experiences selling pressure and starts trending lower, the first key level will be at ₹1,384.60. If the price breaks below that, it will show strong bearishness in the stock, and SHAILY will find its next support at ₹1,279.80 followed by ₹1,224.60 as 3rd support for the week. It is most unlikely that the stock will fall further down Support 3, as the selling pressure gradually reduces over time and new buyers enter the market to push the price further up.

Now, let's talk about the upside/bullish expectations. If SHAILY starts rallying this week, it might face some resistance at the first support of ₹1,544.60. If the price manages to break through Support1 level convincingly, the stock will continue its upward movement towards ₹1,599.80 and even ₹1,704.60 as the last support for this week.

SHAILY Monthly Resistance and Supports

Level	Value
Monthly Support 1 (S1)	₹1,061.53
Monthly Support 2 (S2)	₹825.72
Monthly Support 3 (S3)	₹681.48
Monthly Resistance 1 (R1)	₹1,441.58
Monthly Resistance 2 (R2)	₹1,585.82
Monthly Resistance 3 (R3)	₹1,821.63

Considering the downside view on monthly charts, if SHAILY starts showing signs of weakness and declines, the first major support level will be ₹1,061.53. If the price breaks below that, the second support for the month will be ₹825.72 and ₹681.48 as the third support.

However, if the bulls take control and SHAILY starts rallying, the first key resistance level to watch will be ₹1,441.58. If the price can push through that convincingly, it sets up a potential challenge of the higher resistance levels at ₹1,585.82 and ₹1,821.63.

Stocks in the Same Sector as SHAILY

Stock Name	Industry
UltraTech Cement Limited	Building Materials
Asian Paints Limited	Specialty Chemicals
JSW Steel Limited	Steel
Tata Steel Limited	Steel
Grasim Industries Limited	Building Materials
Pidilite Industries Limited	Specialty Chemicals
Hindustan Zinc Limited	Other Industrial Metals & Mining
Hindalco Industries Limited	Aluminum
Ambuja Cements Limited	Building Materials
Vedanta Limited	Other Industrial Metals & Mining

Summary of Key Levels for SHAILY

Daily Levels:
• Support at: ₹1,409.08
• Resistance at: ₹1,506.33
Weekly Levels:
• Support at: ₹1,384.60
• Resistance at: ₹1,544.60
Monthly Levels:
• Support at: ₹1,061.53
• Resistance at: ₹1,441.58