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

Torrent Power Limited

Symbol: NSE:TORNTPOWER

ISIN: INE813H01021

1,515.10

As on 2024-04-24

518.60 (52W Low) 1,633.00 (52W High)

TORNTPOWER's Today's Performance

Torrent Power Limited started the day by opening at 1,516.50 today 2024-04-24. Its shares reached a high of 1,534.40 and dipped to a low of 1,496.00 in intraday. When the markets closed, TORNTPOWER’s stock price settled at ₹1,515.10 per share. Also check out its key support and resistance levels.

TORNTPOWER Buy/Sell Targets

Tomorrow, buy TORNTPOWER when its price reaches ₹ 1,515.10 with a stop-loss order at ₹ 1,487.23. You can set the target price as ₹ 1,542.98 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 TORNTPOWER 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 TORNTPOWER

Downside Targets Value in ₹
Tomorrow Down Target 1 1,534
Tomorrow Down Target 2 1,554
Tomorrow Down Target 3 1,573

Important Levels for TORNTPOWER

Holding Levels Value in ₹
Tomorrow Up Target 1 1,496
Tomorrow Up Target 2 1,477
Tomorrow Up Target 3 1,458
Based on where the stock opens tomorrow, if TORNTPOWER opens on a positive note, our first target will be ₹1,534. If Target 1 is achieved, we will aim for Target 2 which is ₹1,554.

But if TORNTPOWER falls below the average value of ₹1,515.17, you can enter a sell side position with target number 1 - ₹1,496 and second target - ₹1,477 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 TORNTPOWER

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

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

Tomorrow's Volume based share price Forecast for TORNTPOWER

TORNTPOWER'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 -51%.

Reversal detection for TORNTPOWER

Predicted trend chart of TORNTPOWER tomorrow for price forecast
TORNTPOWER may trend may continue to be bullish since stock is making higher highs and we can get target of ₹1516 in morning tomorrow
Target 1 tomorrow1530
Target 2 tomorrow1539
Target 3 tomorrow1554
 

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 TORNTPOWER'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 TORNTPOWER opens on a positive note, our first target will be ₹1,534.33. If Target 1 is achieved, we will aim for Target 2 which is ₹1,553.57.

But if TORNTPOWER falls below the average value of ₹1,515.17, you can enter a sell side position with target number 1 - ₹1,495.93 and second target - ₹1,476.77

TORNTPOWER's Weekly Targets
1st Up Target 1,557.35
2nd Up Target 1,599.60
1st Down Target 1,471.45
2nd Down Target 1,427.80

As the week for TORNTPOWER ended on bearish sentiments, we can expect further continuation of this sentiment. TORNTPOWER's initial target will be 1,557.35 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 1,471.45 in the upcoming week.

Weekly OHLC Values
Open 1,519.00
High 1,555.95
Low 1,470.05
Close 1,515.10

Week for TORNTPOWER started with an open price of 1,519.00, and the close was at 1,515.10. TORNTPOWER reached the highest of 1,555.95 and dipped lowest up to 1,470.05 last week. This indicates a bearish sentiment for the week.

TORNTPOWER full month swing targets
Monthly Up Target 1 1,643.25
Monthly Up Target 2 1,685.50
Monthly Down Target 1 1,385.55
Monthly Down Target 2 1,256.00

Targets of ₹1,643.25 can be expected to be reached in the coming month. Once TORNTPOWER achieved this target, we can aim for the next upside target of ₹1,685.50.

TORNTPOWER if fails to hold upside, down targets of ₹1,385.55 and ₹1,256.00 can be achieved by end of this month.

For complete three weeks if TORNTPOWER 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 TORNTPOWER

Symbol Name Industry
NTPC NTPC Limited Utilities - Regulated Electric
ADANIGREEN Adani Green Energy Limited Utilities - Renewable
POWERGRID Power Grid Corporation of India Limited Utilities - Regulated Electric
ADANIPOWER Adani Power Limited Utilities - Independent Power Producers
TATAPOWER Tata Power Company Limited Utilities - Independent Power Producers

Summary

TORNTPOWER is expected to reach the target of 1,534.33 in tomorrow's trading session.

After achieving the initial target in TORNTPOWER, we will aim for higher targets of 1,553.57 tomorrow.

However, if TORNTPOWER starts to trade below ₹1,515.17, then we will shift our focus to the sell side and aim for down targets of 1,495.93 and 1,476.77.