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

United Drilling Tools Limited

Symbol: NSE:UNIDT

ISIN: INE961D01019

282.90

As on 2024-04-24

168.35 (52W Low) 319.00 (52W High)

UNIDT's Today's Performance

United Drilling Tools Limited started the day by opening at 266.20 today 2024-04-24. Its shares reached a high of 285.90 and dipped to a low of 263.60 in intraday. When the markets closed, UNIDT’s stock price settled at ₹282.90 per share. Also check out its key support and resistance levels.

UNIDT Buy/Sell Targets

Tomorrow, buy UNIDT when its price reaches ₹ 282.90 with a stop-loss order at ₹ 275.77. You can set the target price as ₹ 290.03 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 1 291
Tomorrow Down Target 2 300
Tomorrow Down Target 3 314

Important Levels for UNIDT

Holding Levels Value in ₹
Tomorrow Up Target 1 269
Tomorrow Up Target 2 255
Tomorrow Up Target 3 247
Based on where the stock opens tomorrow, if UNIDT opens on a positive note, our first target will be ₹291. If Target 1 is achieved, we will aim for Target 2 which is ₹300.

But if UNIDT falls below the average value of ₹277.47, you can enter a sell side position with target number 1 - ₹269 and second target - ₹255 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 Increasing 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 Upward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for UNIDT is moderate bullish.

Tomorrow's Volume based share price Forecast for UNIDT

UNIDT's Volume is currently in a Increasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a moderate bullish trend. Volume trend strength over the last month compared to the last week is -70%.

Reversal detection for UNIDT

Predicted trend chart of UNIDT tomorrow for price forecast
UNIDT may reverse its trend from upside (Short term bearish outlook) and we can get target of ₹264 in morning tomorrow
Target 1 tomorrow286
Target 2 tomorrow291
Target 3 tomorrow300
 

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 ₹291.33. If Target 1 is achieved, we will aim for Target 2 which is ₹299.77.

But if UNIDT falls below the average value of ₹277.47, you can enter a sell side position with target number 1 - ₹269.03 and second target - ₹255.17

UNIDT's Weekly Targets
1st Up Target 294.82
2nd Up Target 306.73
1st Down Target 262.07
2nd Down Target 241.23

As the week for UNIDT ended on bullish sentiments, we can expect further continuation of this sentiment. UNIDT's initial target will be 294.82 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 262.07 in the upcoming week.

Weekly OHLC Values
Open 255.00
High 285.90
Low 253.15
Close 282.90

Week for UNIDT started with an open price of 255.00, and the close was at 282.90. UNIDT reached the highest of 285.90 and dipped lowest up to 253.15 last week. This indicates a bullish sentiment for the week.

UNIDT full month swing targets
Monthly Up Target 1 327.57
Monthly Up Target 2 339.48
Monthly Down Target 1 229.32
Monthly Down Target 2 175.73

Targets of ₹327.57 can be expected to be reached in the coming month. Once UNIDT achieved this target, we can aim for the next upside target of ₹339.48.

UNIDT if fails to hold upside, down targets of ₹229.32 and ₹175.73 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

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ADANIENT Adani Enterprises Limited Thermal Coal
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COALINDIA Coal India Limited Thermal Coal
IOC Indian Oil Corporation Limited Oil & Gas Refining & Marketing

Summary

UNIDT is expected to reach the target of 291.33 in tomorrow's trading session.

After achieving the initial target in UNIDT, we will aim for higher targets of 299.77 tomorrow.

However, if UNIDT starts to trade below ₹277.47, then we will shift our focus to the sell side and aim for down targets of 269.03 and 255.17.