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

Bikaji Foods International Limited

Symbol: NSE:BIKAJI

ISIN: INE00E101023

538.60

As on 2024-04-12

349.50 (52W Low) 605.90 (52W High)

BIKAJI's Today's Performance

Bikaji Foods International Limited started the day by opening at 548.15 today 2024-04-12. Its shares reached a high of 559.70 and dipped to a low of 535.00 in intraday. When the markets closed, BIKAJI’s stock price settled at ₹538.60 per share. Also check out its key support and resistance levels.

BIKAJI Buy/Sell Targets

Tomorrow, sell BIKAJI when its price reaches ₹ 538.60 with a stop-loss order at ₹ 544.72. You can set the target price as ₹ 532.48 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 BIKAJI 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 BIKAJI

Resistance Levels Value in ₹
Tomorrow Resistance 1 554
Tomorrow Resistance 2 569
Tomorrow Resistance 3 579

Important Supports for BIKAJI

Support Levels Value in ₹
Tomorrow Support 1 529
Tomorrow Support 2 520
Tomorrow Support 3 504
Based on where the stock opens tomorrow, if BIKAJI opens on a positive note, our first target will be ₹554. If Target 1 is achieved, we will aim for Target 2 which is ₹569.

But if BIKAJI falls below the average value of ₹544.43, you can enter a sell side position with target number 1 - ₹529 and second target - ₹520 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 BIKAJI

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

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

Tomorrow's Volume based share price Forecast for BIKAJI

BIKAJI'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 -8%.

Reversal detection for BIKAJI

Predicted trend chart of BIKAJI tomorrow for price forecast
BIKAJI may reverse its trend from upside (Short term bearish outlook) and we can get target of ₹547 in morning tomorrow
Target 1 tomorrow554
Target 2 tomorrow560
Target 3 tomorrow569
 

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 BIKAJI'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 BIKAJI opens on a positive note, our first target will be ₹553.87. If Target 1 is achieved, we will aim for Target 2 which is ₹569.13.

But if BIKAJI falls below the average value of ₹544.43, you can enter a sell side position with target number 1 - ₹529.17 and second target - ₹519.73

BIKAJI's Weekly Targets
1st Up Target 556.10
2nd Up Target 573.60
1st Down Target 524.70
2nd Down Target 510.80

As the week for BIKAJI ended on bearish sentiments, we can expect further continuation of this sentiment. BIKAJI's initial target will be 556.10 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 524.70 in the upcoming week.

Weekly OHLC Values
Open 538.85
High 559.70
Low 528.30
Close 538.60

Week for BIKAJI started with an open price of 538.85, and the close was at 538.60. BIKAJI reached the highest of 559.70 and dipped lowest up to 528.30 last week. This indicates a bearish sentiment for the week.

BIKAJI full month swing targets
Monthly Up Target 1 587.50
Monthly Up Target 2 605.00
Monthly Down Target 1 493.30
Monthly Down Target 2 448.00

Targets of ₹587.50 can be expected to be reached in the coming month. Once BIKAJI achieved this target, we can aim for the next upside target of ₹605.00.

BIKAJI if fails to hold upside, down targets of ₹493.30 and ₹448.00 can be achieved by end of this month.

For complete three weeks if BIKAJI 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 BIKAJI

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

BIKAJI is expected to reach the target of 553.87 in tomorrow's trading session.

After achieving the initial target in BIKAJI, we will aim for higher targets of 569.13 tomorrow.

However, if BIKAJI starts to trade below ₹544.43, then we will shift our focus to the sell side and aim for down targets of 529.17 and 519.73.