Price and trend forecast of MEGASTAR for Tomorrow, Weekly, Monthly
Megastar Foods Limited
Symbol: NSE:MEGASTAR
ISIN: INE00EM01016
293.50
As on 2024-09-11
MEGASTAR's Today's Performance
Megastar Foods Limited started the day by opening at 297.00 today 2024-09-11. Its shares reached a high of 300.95 and dipped to a low of 293.00 in intraday. When the markets closed, MEGASTAR’s stock price settled at ₹293.50 per share. Also check out its key support and resistance levels.
MEGASTAR Buy/Sell Targets
Tomorrow, sell MEGASTAR when its price reaches ₹ 293.50 with a stop-loss order at ₹ 299.13. You can set the target price as ₹ 287.87 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 MEGASTAR 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 MEGASTAR
| Downside Targets | Value in ₹ |
|---|---|
| Tomorrow Down Target 1 | 299 |
| Tomorrow Down Target 2 | 304 |
| Tomorrow Down Target 3 | 307 |
Important Levels for MEGASTAR
| Holding Levels | Value in ₹ |
|---|---|
| Tomorrow Up Target 1 | 291 |
| Tomorrow Up Target 2 | 288 |
| Tomorrow Up Target 3 | 283 |
Based on where the stock opens tomorrow, if MEGASTAR opens on a positive note, our first target will be ₹299. If Target 1 is achieved, we will aim for Target 2 which is ₹304.
But if MEGASTAR falls below the average value of ₹295.82, you can enter a sell side position with target number 1 - ₹291 and second target - ₹288 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 MEGASTAR
Looking at MEGASTAR, 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, MEGASTAR has been on a Downward path, giving us insights how its value changes in the market.
Based on this, the predicted sentiment for MEGASTAR is moderate bearish.
Tomorrow's Volume based share price Forecast for MEGASTAR
MEGASTAR'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 -52%.
Reversal detection for MEGASTAR
MEGASTAR may trend may continue to be bearish since stock is making lower low and we can get target of ₹299 in morning tomorrow
| Target 1 tomorrow | 299 |
| Target 2 tomorrow | 301 |
| Target 3 tomorrow | 304 |
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 MEGASTAR'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 MEGASTAR opens on a positive note, our first target will be ₹298.63. If Target 1 is achieved, we will aim for Target 2 which is ₹303.77.
But if MEGASTAR falls below the average value of ₹295.82, you can enter a sell side position with target number 1 - ₹290.68 and second target - ₹287.87
MEGASTAR's Weekly Targets
| 1st Up Target | 307.93 |
| 2nd Up Target | 322.37 |
| 1st Down Target | 286.03 |
| 2nd Down Target | 278.57 |
As the week for MEGASTAR ended on bearish sentiments, we can expect further continuation of this sentiment. MEGASTAR's initial target will be 307.93 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 286.03 in the upcoming week.
Weekly OHLC Values
| Open | 310.30 |
| High | 314.90 |
| Low | 293.00 |
| Close | 293.50 |
Week for MEGASTAR started with an open price of 310.30, and the close was at 293.50. MEGASTAR reached the highest of 314.90 and dipped lowest up to 293.00 last week. This indicates a bearish sentiment for the week.
MEGASTAR full month swing targets
| Monthly Up Target 1 | 329.83 |
| Monthly Up Target 2 | 344.27 |
| Monthly Down Target 1 | 264.13 |
| Monthly Down Target 2 | 234.77 |
Targets of ₹329.83 can be expected to be reached in the coming month. Once MEGASTAR achieved this target, we can aim for the next upside target of ₹344.27.
MEGASTAR if fails to hold upside, down targets of ₹264.13 and ₹234.77 can be achieved by end of this month.
For complete three weeks if MEGASTAR 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 MEGASTAR
| 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
MEGASTAR is expected to reach the target of 298.63 in tomorrow's trading session.
After achieving the initial target in MEGASTAR, we will aim for higher targets of 303.77 tomorrow.
However, if MEGASTAR starts to trade below ₹295.82, then we will shift our focus to the sell side and aim for down targets of 290.68 and 287.87.