Price and trend forecast of UNIDT for Tomorrow, Weekly, Monthly
United Drilling Tools Limited
Symbol: NSE:UNIDT
ISIN: INE961D01019
237.61
As on 2024-07-26
UNIDT's Today's Performance
United Drilling Tools Limited started the day by opening at 234.50 today 2024-07-26. Its shares reached a high of 243.50 and dipped to a low of 234.50 in intraday. When the markets closed, UNIDT’s stock price settled at ₹237.61 per share. Also check out its key support and resistance levels.
UNIDT Buy/Sell Targets
Tomorrow, buy UNIDT when its price reaches ₹ 237.61 with a stop-loss order at ₹ 233.92. You can set the target price as ₹ 241.30 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 UNIDT 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 UNIDT
| Downside Targets | Value in ₹ |
|---|---|
| Tomorrow Down Target 1 | 243 |
| Tomorrow Down Target 2 | 248 |
| Tomorrow Down Target 3 | 252 |
Important Levels for UNIDT
| Holding Levels | Value in ₹ |
|---|---|
| Tomorrow Up Target 1 | 234 |
| Tomorrow Up Target 2 | 230 |
| Tomorrow Up Target 3 | 225 |
Based on where the stock opens tomorrow, if UNIDT opens on a positive note, our first target will be ₹243. If Target 1 is achieved, we will aim for Target 2 which is ₹248.
But if UNIDT falls below the average value of ₹238.54, you can enter a sell side position with target number 1 - ₹234 and second target - ₹230 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 UNIDT
Looking at UNIDT, 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, UNIDT has been on a Downward path, giving us insights how its value changes in the market.
Based on this, the predicted sentiment for UNIDT is moderate bearish.
Tomorrow's Volume based share price Forecast for UNIDT
UNIDT'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 -70%.
Reversal detection for UNIDT
UNIDT may reverse its trend from upside (Short term bearish outlook) and we can get target of ₹237 in morning tomorrow
| Target 1 tomorrow | 242 |
| Target 2 tomorrow | 244 |
| Target 3 tomorrow | 248 |
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 UNIDT'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 UNIDT opens on a positive note, our first target will be ₹242.57. If Target 1 is achieved, we will aim for Target 2 which is ₹247.54.
But if UNIDT falls below the average value of ₹238.54, you can enter a sell side position with target number 1 - ₹233.57 and second target - ₹229.54
UNIDT's Weekly Targets
| 1st Up Target | 246.03 |
| 2nd Up Target | 254.46 |
| 1st Down Target | 226.65 |
| 2nd Down Target | 215.70 |
As the week for UNIDT ended on bullish sentiments, we can expect further continuation of this sentiment. UNIDT's initial target will be 246.03 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 226.65 in the upcoming week.
Weekly OHLC Values
| Open | 236.00 |
| High | 243.50 |
| Low | 224.12 |
| Close | 237.61 |
Week for UNIDT started with an open price of 236.00, and the close was at 237.61. UNIDT reached the highest of 243.50 and dipped lowest up to 224.12 last week. This indicates a bullish sentiment for the week.
UNIDT full month swing targets
| Monthly Up Target 1 | 265.41 |
| Monthly Up Target 2 | 273.84 |
| Monthly Down Target 1 | 207.27 |
| Monthly Down Target 2 | 176.94 |
Targets of ₹265.41 can be expected to be reached in the coming month. Once UNIDT achieved this target, we can aim for the next upside target of ₹273.84.
UNIDT if fails to hold upside, down targets of ₹207.27 and ₹176.94 can be achieved by end of this month.
For complete three weeks if UNIDT 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 UNIDT
| Symbol | Name | Industry |
|---|---|---|
| RELIANCE | Reliance Industries Limited | Oil & Gas Refining & Marketing |
| ADANIENT | Adani Enterprises Limited | Thermal Coal |
| ONGC | Oil & Natural Gas Corporation Limited | Oil & Gas Integrated |
| COALINDIA | Coal India Limited | Thermal Coal |
| IOC | Indian Oil Corporation Limited | Oil & Gas Refining & Marketing |
Summary
UNIDT is expected to reach the target of 242.57 in tomorrow's trading session.
After achieving the initial target in UNIDT, we will aim for higher targets of 247.54 tomorrow.
However, if UNIDT starts to trade below ₹238.54, then we will shift our focus to the sell side and aim for down targets of 233.57 and 229.54.