Stock Information Portal

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

Sutlej Textiles and Industries Limited

Symbol: NSE:SUTLEJTEX

ISIN: INE645H01027

56.80

As on 2024-04-12

44.10 (52W Low) 73.45 (52W High)

SUTLEJTEX's Today's Performance

Sutlej Textiles and Industries Limited started the day by opening at 56.95 today 2024-04-12. Its shares reached a high of 57.95 and dipped to a low of 56.60 in intraday. When the markets closed, SUTLEJTEX’s stock price settled at ₹56.80 per share. Also check out its key support and resistance levels.

SUTLEJTEX Buy/Sell Targets

Tomorrow, sell SUTLEJTEX when its price reaches ₹ 56.80 with a stop-loss order at ₹ 57.48. You can set the target price as ₹ 56.13 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 SUTLEJTEX 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 SUTLEJTEX

Resistance Levels Value in ₹
Tomorrow Resistance 1 58
Tomorrow Resistance 2 58
Tomorrow Resistance 3 59

Important Supports for SUTLEJTEX

Support Levels Value in ₹
Tomorrow Support 1 56
Tomorrow Support 2 56
Tomorrow Support 3 55
Based on where the stock opens tomorrow, if SUTLEJTEX opens on a positive note, our first target will be ₹58. If Target 1 is achieved, we will aim for Target 2 which is ₹58.

But if SUTLEJTEX falls below the average value of ₹57.12, you can enter a sell side position with target number 1 - ₹56 and second target - ₹56 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 SUTLEJTEX

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

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

Tomorrow's Volume based share price Forecast for SUTLEJTEX

SUTLEJTEX'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 13%.

Reversal detection for SUTLEJTEX

Predicted trend chart of SUTLEJTEX tomorrow for price forecast
SUTLEJTEX may trend may continue to be bearish since stock is making lower low and we can get target of ₹57 in morning tomorrow
Target 1 tomorrow58
Target 2 tomorrow58
Target 3 tomorrow58
 

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 SUTLEJTEX'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 SUTLEJTEX opens on a positive note, our first target will be ₹57.63. If Target 1 is achieved, we will aim for Target 2 which is ₹58.47.

But if SUTLEJTEX falls below the average value of ₹57.12, you can enter a sell side position with target number 1 - ₹56.28 and second target - ₹55.77

SUTLEJTEX's Weekly Targets
1st Up Target 58.73
2nd Up Target 60.67
1st Down Target 55.73
2nd Down Target 54.67

As the week for SUTLEJTEX ended on bearish sentiments, we can expect further continuation of this sentiment. SUTLEJTEX's initial target will be 58.73 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 55.73 in the upcoming week.

Weekly OHLC Values
Open 59.00
High 59.60
Low 56.60
Close 56.80

Week for SUTLEJTEX started with an open price of 59.00, and the close was at 56.80. SUTLEJTEX reached the highest of 59.60 and dipped lowest up to 56.60 last week. This indicates a bearish sentiment for the week.

SUTLEJTEX full month swing targets
Monthly Up Target 1 61.73
Monthly Up Target 2 63.67
Monthly Down Target 1 52.73
Monthly Down Target 2 48.67

Targets of ₹61.73 can be expected to be reached in the coming month. Once SUTLEJTEX achieved this target, we can aim for the next upside target of ₹63.67.

SUTLEJTEX if fails to hold upside, down targets of ₹52.73 and ₹48.67 can be achieved by end of this month.

For complete three weeks if SUTLEJTEX 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 SUTLEJTEX

Symbol Name Industry
MARUTI Maruti Suzuki India Limited Auto Manufacturers
TATAMTRDVR Tata Motors Limited Auto Manufacturers
TATAMOTORS Tata Motors Limited Auto Manufacturers
TITAN Titan Company Limited Luxury Goods
BAJAJ-AUTO Bajaj Auto Limited Auto Manufacturers

Summary

SUTLEJTEX is expected to reach the target of 57.63 in tomorrow's trading session.

After achieving the initial target in SUTLEJTEX, we will aim for higher targets of 58.47 tomorrow.

However, if SUTLEJTEX starts to trade below ₹57.12, then we will shift our focus to the sell side and aim for down targets of 56.28 and 55.77.