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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

215.00 (52W Low) 404.95 (52W High)

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

Predicted trend chart of MEGASTAR tomorrow for price forecast
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 tomorrow299
Target 2 tomorrow301
Target 3 tomorrow304
 

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.