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

Honeywell Automation India Limited

Symbol: NSE:HONAUT

ISIN: INE671A01010

53,501.00

As on 2024-07-23

34,977.70 (52W Low) 59,994.00 (52W High)

HONAUT's Today's Performance

Honeywell Automation India Limited started the day by opening at 54,100.00 today 2024-07-23. Its shares reached a high of 55,888.00 and dipped to a low of 53,140.80 in intraday. When the markets closed, HONAUT’s stock price settled at ₹53,501.00 per share. Also check out its key support and resistance levels.

HONAUT Buy/Sell Targets

Tomorrow, sell HONAUT when its price reaches ₹ 53,501.00 with a stop-loss order at ₹ 54,711.52. You can set the target price as ₹ 52,290.48 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 HONAUT 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 HONAUT

Downside Targets Value in ₹
Tomorrow Down Target 1 55,212
Tomorrow Down Target 2 56,924
Tomorrow Down Target 3 57,960

Important Levels for HONAUT

Holding Levels Value in ₹
Tomorrow Up Target 1 52,465
Tomorrow Up Target 2 51,429
Tomorrow Up Target 3 49,718
Based on where the stock opens tomorrow, if HONAUT opens on a positive note, our first target will be ₹55,212. If Target 1 is achieved, we will aim for Target 2 which is ₹56,924.

But if HONAUT falls below the average value of ₹54,176.60, you can enter a sell side position with target number 1 - ₹52,465 and second target - ₹51,429 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 HONAUT

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

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

Tomorrow's Volume based share price Forecast for HONAUT

HONAUT'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 -17%.

Reversal detection for HONAUT

Predicted trend chart of HONAUT tomorrow for price forecast
HONAUT may trend may continue to be bearish since stock is making lower low and we can get target of ₹54015 in morning tomorrow
Target 1 tomorrow55226
Target 2 tomorrow55874
Target 3 tomorrow56924
 

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 HONAUT'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 HONAUT opens on a positive note, our first target will be ₹55,212.40. If Target 1 is achieved, we will aim for Target 2 which is ₹56,923.80.

But if HONAUT falls below the average value of ₹54,176.60, you can enter a sell side position with target number 1 - ₹52,465.20 and second target - ₹51,429.40

HONAUT's Weekly Targets
1st Up Target 55,274.62
2nd Up Target 57,048.23
1st Down Target 52,340.77
2nd Down Target 51,180.53

As the week for HONAUT ended on bullish sentiments, we can expect further continuation of this sentiment. HONAUT's initial target will be 55,274.62 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 52,340.77 in the upcoming week.

Weekly OHLC Values
Open 53,450.00
High 55,888.00
Low 52,954.15
Close 53,501.00

Week for HONAUT started with an open price of 53,450.00, and the close was at 53,501.00. HONAUT reached the highest of 55,888.00 and dipped lowest up to 52,954.15 last week. This indicates a bullish sentiment for the week.

HONAUT full month swing targets
Monthly Up Target 1 58,208.47
Monthly Up Target 2 59,982.08
Monthly Down Target 1 49,406.92
Monthly Down Target 2 45,312.83

Targets of ₹58,208.47 can be expected to be reached in the coming month. Once HONAUT achieved this target, we can aim for the next upside target of ₹59,982.08.

HONAUT if fails to hold upside, down targets of ₹49,406.92 and ₹45,312.83 can be achieved by end of this month.

For complete three weeks if HONAUT 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.

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Summary

HONAUT is expected to reach the target of 55,212.40 in tomorrow's trading session.

After achieving the initial target in HONAUT, we will aim for higher targets of 56,923.80 tomorrow.

However, if HONAUT starts to trade below ₹54,176.60, then we will shift our focus to the sell side and aim for down targets of 52,465.20 and 51,429.40.