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

Honasa Consumer Limited

Symbol: NSE:HONASA

ISIN: N/A

426.30

As on 2024-05-27

256.30 (52W Low) 511.00 (52W High)

HONASA's Today's Performance

Honasa Consumer Limited started the day by opening at 430.60 today 2024-05-27. Its shares reached a high of 436.90 and dipped to a low of 418.85 in intraday. When the markets closed, HONASA’s stock price settled at ₹426.30 per share. Also check out its key support and resistance levels.

HONASA Buy/Sell Targets

Tomorrow, sell HONASA when its price reaches ₹ 426.30 with a stop-loss order at ₹ 435.43. You can set the target price as ₹ 417.17 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 HONASA 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 HONASA

Downside Targets Value in ₹
Tomorrow Down Target 1 436
Tomorrow Down Target 2 445
Tomorrow Down Target 3 454

Important Levels for HONASA

Holding Levels Value in ₹
Tomorrow Up Target 1 418
Tomorrow Up Target 2 409
Tomorrow Up Target 3 400
Based on where the stock opens tomorrow, if HONASA opens on a positive note, our first target will be ₹436. If Target 1 is achieved, we will aim for Target 2 which is ₹445.

But if HONASA falls below the average value of ₹427.35, you can enter a sell side position with target number 1 - ₹418 and second target - ₹409 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 HONASA

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

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

Tomorrow's Volume based share price Forecast for HONASA

HONASA'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 120%.

Reversal detection for HONASA

Predicted trend chart of HONASA tomorrow for price forecast
HONASA may trend may continue to be bearish since stock is making lower low and we can get target of ₹435 in morning tomorrow
Target 1 tomorrow434
Target 2 tomorrow439
Target 3 tomorrow445
 

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 HONASA'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 HONASA opens on a positive note, our first target will be ₹435.85. If Target 1 is achieved, we will aim for Target 2 which is ₹445.40.

But if HONASA falls below the average value of ₹427.35, you can enter a sell side position with target number 1 - ₹417.80 and second target - ₹409.30

HONASA's Weekly Targets
1st Up Target 435.85
2nd Up Target 445.40
1st Down Target 417.80
2nd Down Target 409.30

As the week for HONASA ended on bearish sentiments, we can expect further continuation of this sentiment. HONASA's initial target will be 435.85 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 417.80 in the upcoming week.

Weekly OHLC Values
Open 430.60
High 436.90
Low 418.85
Close 426.30

Week for HONASA started with an open price of 430.60, and the close was at 426.30. HONASA reached the highest of 436.90 and dipped lowest up to 418.85 last week. This indicates a bearish sentiment for the week.

HONASA full month swing targets
Monthly Up Target 1 453.90
Monthly Up Target 2 463.45
Monthly Down Target 1 399.75
Monthly Down Target 2 373.20

Targets of ₹453.90 can be expected to be reached in the coming month. Once HONASA achieved this target, we can aim for the next upside target of ₹463.45.

HONASA if fails to hold upside, down targets of ₹399.75 and ₹373.20 can be achieved by end of this month.

For complete three weeks if HONASA 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 HONASA

Symbol Name Industry
ITC ITC Limited Tobacco
HINDUNILVR Hindustan Unilever Limited Household & Personal Products
DMART Avenue Supermarts Limited Discount Stores
NESTLEIND Nestle India Limited Packaged Foods
VBL Varun Beverages Limited Beverages - Non-Alcoholic

Summary

HONASA is expected to reach the target of 435.85 in tomorrow's trading session.

After achieving the initial target in HONASA, we will aim for higher targets of 445.40 tomorrow.

However, if HONASA starts to trade below ₹427.35, then we will shift our focus to the sell side and aim for down targets of 417.80 and 409.30.