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

Uttam Sugar Mills Limited

Symbol: NSE:UTTAMSUGAR

ISIN: INE786F01031

347.50

As on 2024-04-12

251.60 (52W Low) 535.80 (52W High)

UTTAMSUGAR's Today's Performance

Uttam Sugar Mills Limited started the day by opening at 351.55 today 2024-04-12. Its shares reached a high of 354.90 and dipped to a low of 346.00 in intraday. When the markets closed, UTTAMSUGAR’s stock price settled at ₹347.50 per share. Also check out its key support and resistance levels.

UTTAMSUGAR Buy/Sell Targets

Tomorrow, sell UTTAMSUGAR when its price reaches ₹ 347.50 with a stop-loss order at ₹ 354.45. You can set the target price as ₹ 340.55 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 UTTAMSUGAR 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 UTTAMSUGAR

Resistance Levels Value in ₹
Tomorrow Resistance 1 353
Tomorrow Resistance 2 358
Tomorrow Resistance 3 362

Important Supports for UTTAMSUGAR

Support Levels Value in ₹
Tomorrow Support 1 344
Tomorrow Support 2 341
Tomorrow Support 3 335
Based on where the stock opens tomorrow, if UTTAMSUGAR opens on a positive note, our first target will be ₹353. If Target 1 is achieved, we will aim for Target 2 which is ₹358.

But if UTTAMSUGAR falls below the average value of ₹349.47, you can enter a sell side position with target number 1 - ₹344 and second target - ₹341 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 UTTAMSUGAR

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

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

Tomorrow's Volume based share price Forecast for UTTAMSUGAR

UTTAMSUGAR's Volume is currently in a Decreasing 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 40%.

Reversal detection for UTTAMSUGAR

Predicted trend chart of UTTAMSUGAR tomorrow for price forecast
UTTAMSUGAR may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹358 in morning tomorrow
Target 1 tomorrow353
Target 2 tomorrow355
Target 3 tomorrow358
 

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 UTTAMSUGAR'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 UTTAMSUGAR opens on a positive note, our first target will be ₹352.93. If Target 1 is achieved, we will aim for Target 2 which is ₹358.37.

But if UTTAMSUGAR falls below the average value of ₹349.47, you can enter a sell side position with target number 1 - ₹344.03 and second target - ₹340.57

UTTAMSUGAR's Weekly Targets
1st Up Target 360.87
2nd Up Target 374.23
1st Down Target 338.07
2nd Down Target 328.63

As the week for UTTAMSUGAR ended on bearish sentiments, we can expect further continuation of this sentiment. UTTAMSUGAR's initial target will be 360.87 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 338.07 in the upcoming week.

Weekly OHLC Values
Open 357.20
High 364.80
Low 342.00
Close 347.50

Week for UTTAMSUGAR started with an open price of 357.20, and the close was at 347.50. UTTAMSUGAR reached the highest of 364.80 and dipped lowest up to 342.00 last week. This indicates a bearish sentiment for the week.

UTTAMSUGAR full month swing targets
Monthly Up Target 1 383.67
Monthly Up Target 2 397.03
Monthly Down Target 1 315.27
Monthly Down Target 2 283.03

Targets of ₹383.67 can be expected to be reached in the coming month. Once UTTAMSUGAR achieved this target, we can aim for the next upside target of ₹397.03.

UTTAMSUGAR if fails to hold upside, down targets of ₹315.27 and ₹283.03 can be achieved by end of this month.

For complete three weeks if UTTAMSUGAR 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.

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Summary

UTTAMSUGAR is expected to reach the target of 352.93 in tomorrow's trading session.

After achieving the initial target in UTTAMSUGAR, we will aim for higher targets of 358.37 tomorrow.

However, if UTTAMSUGAR starts to trade below ₹349.47, then we will shift our focus to the sell side and aim for down targets of 344.03 and 340.57.