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

Butterfly Gandhimathi Appliances Limited

Symbol: NSE:BUTTERFLY

ISIN: INE295F01017

854.40

As on 2024-07-19

674.90 (52W Low) 1,308.40 (52W High)

BUTTERFLY's Today's Performance

Butterfly Gandhimathi Appliances Limited started the day by opening at 851.00 today 2024-07-19. Its shares reached a high of 868.45 and dipped to a low of 851.00 in intraday. When the markets closed, BUTTERFLY’s stock price settled at ₹854.40 per share. Also check out its key support and resistance levels.

BUTTERFLY Buy/Sell Targets

Tomorrow, sell BUTTERFLY when its price reaches ₹ 854.40 with a stop-loss order at ₹ 867.02. You can set the target price as ₹ 841.78 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 BUTTERFLY 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 BUTTERFLY

Downside Targets Value in ₹
Tomorrow Down Target 1 865
Tomorrow Down Target 2 875
Tomorrow Down Target 3 882

Important Levels for BUTTERFLY

Holding Levels Value in ₹
Tomorrow Up Target 1 847
Tomorrow Up Target 2 841
Tomorrow Up Target 3 830
Based on where the stock opens tomorrow, if BUTTERFLY opens on a positive note, our first target will be ₹865. If Target 1 is achieved, we will aim for Target 2 which is ₹875.

But if BUTTERFLY falls below the average value of ₹857.95, you can enter a sell side position with target number 1 - ₹847 and second target - ₹841 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 BUTTERFLY

Looking at BUTTERFLY, we've seen a Increasing 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, BUTTERFLY has been on a Downward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for BUTTERFLY is moderate bearish.

Tomorrow's Volume based share price Forecast for BUTTERFLY

BUTTERFLY's Volume is currently in a Increasing 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 -30%.

Reversal detection for BUTTERFLY

Predicted trend chart of BUTTERFLY tomorrow for price forecast
BUTTERFLY may trend may continue to be bearish since stock is making lower low and we can get target of ₹862 in morning tomorrow
Target 1 tomorrow865
Target 2 tomorrow869
Target 3 tomorrow875
 

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 BUTTERFLY'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 BUTTERFLY opens on a positive note, our first target will be ₹864.90. If Target 1 is achieved, we will aim for Target 2 which is ₹875.40.

But if BUTTERFLY falls below the average value of ₹857.95, you can enter a sell side position with target number 1 - ₹847.45 and second target - ₹840.50

BUTTERFLY's Weekly Targets
1st Up Target 874.85
2nd Up Target 895.30
1st Down Target 839.05
2nd Down Target 823.70

As the week for BUTTERFLY ended on bearish sentiments, we can expect further continuation of this sentiment. BUTTERFLY's initial target will be 874.85 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 839.05 in the upcoming week.

Weekly OHLC Values
Open 854.75
High 879.95
Low 844.15
Close 854.40

Week for BUTTERFLY started with an open price of 854.75, and the close was at 854.40. BUTTERFLY reached the highest of 879.95 and dipped lowest up to 844.15 last week. This indicates a bearish sentiment for the week.

BUTTERFLY full month swing targets
Monthly Up Target 1 910.65
Monthly Up Target 2 931.10
Monthly Down Target 1 803.25
Monthly Down Target 2 752.10

Targets of ₹910.65 can be expected to be reached in the coming month. Once BUTTERFLY achieved this target, we can aim for the next upside target of ₹931.10.

BUTTERFLY if fails to hold upside, down targets of ₹803.25 and ₹752.10 can be achieved by end of this month.

For complete three weeks if BUTTERFLY 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 BUTTERFLY

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TATAMOTORS Tata Motors Limited Auto Manufacturers
TITAN Titan Company Limited Luxury Goods
BAJAJ-AUTO Bajaj Auto Limited Auto Manufacturers

Summary

BUTTERFLY is expected to reach the target of 864.90 in tomorrow's trading session.

After achieving the initial target in BUTTERFLY, we will aim for higher targets of 875.40 tomorrow.

However, if BUTTERFLY starts to trade below ₹857.95, then we will shift our focus to the sell side and aim for down targets of 847.45 and 840.50.