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

Bank of Maharashtra

Symbol: NSE:MAHABANK

ISIN: INE457A01014

63.60

As on 2024-04-12

26.40 (52W Low) 69.45 (52W High)

MAHABANK's Today's Performance

Bank of Maharashtra started the day by opening at 64.30 today 2024-04-12. Its shares reached a high of 65.35 and dipped to a low of 63.35 in intraday. When the markets closed, MAHABANK’s stock price settled at ₹63.60 per share. Also check out its key support and resistance levels.

MAHABANK Buy/Sell Targets

Tomorrow, sell MAHABANK when its price reaches ₹ 63.60 with a stop-loss order at ₹ 64.48. You can set the target price as ₹ 62.73 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 MAHABANK 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 MAHABANK

Resistance Levels Value in ₹
Tomorrow Resistance 1 65
Tomorrow Resistance 2 66
Tomorrow Resistance 3 67

Important Supports for MAHABANK

Support Levels Value in ₹
Tomorrow Support 1 63
Tomorrow Support 2 62
Tomorrow Support 3 61
Based on where the stock opens tomorrow, if MAHABANK opens on a positive note, our first target will be ₹65. If Target 1 is achieved, we will aim for Target 2 which is ₹66.

But if MAHABANK falls below the average value of ₹64.10, you can enter a sell side position with target number 1 - ₹63 and second target - ₹62 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 MAHABANK

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

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

Tomorrow's Volume based share price Forecast for MAHABANK

MAHABANK'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 20%.

Reversal detection for MAHABANK

Predicted trend chart of MAHABANK tomorrow for price forecast
MAHABANK may trend may continue to be bearish since stock is making lower low and we can get target of ₹65 in morning tomorrow
Target 1 tomorrow65
Target 2 tomorrow65
Target 3 tomorrow66
 

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 MAHABANK'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 MAHABANK opens on a positive note, our first target will be ₹64.85. If Target 1 is achieved, we will aim for Target 2 which is ₹66.10.

But if MAHABANK falls below the average value of ₹64.10, you can enter a sell side position with target number 1 - ₹62.85 and second target - ₹62.10

MAHABANK's Weekly Targets
1st Up Target 65.45
2nd Up Target 67.30
1st Down Target 62.55
2nd Down Target 61.50

As the week for MAHABANK ended on bearish sentiments, we can expect further continuation of this sentiment. MAHABANK's initial target will be 65.45 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 62.55 in the upcoming week.

Weekly OHLC Values
Open 66.05
High 66.25
Low 63.35
Close 63.60

Week for MAHABANK started with an open price of 66.05, and the close was at 63.60. MAHABANK reached the highest of 66.25 and dipped lowest up to 63.35 last week. This indicates a bearish sentiment for the week.

MAHABANK full month swing targets
Monthly Up Target 1 68.35
Monthly Up Target 2 70.20
Monthly Down Target 1 59.65
Monthly Down Target 2 55.70

Targets of ₹68.35 can be expected to be reached in the coming month. Once MAHABANK achieved this target, we can aim for the next upside target of ₹70.20.

MAHABANK if fails to hold upside, down targets of ₹59.65 and ₹55.70 can be achieved by end of this month.

For complete three weeks if MAHABANK 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 MAHABANK

Symbol Name Industry
HDFCBANK HDFC Bank Limited Banks - Regional
ICICIBANK ICICI Bank Limited Banks - Regional
SBIN State Bank of India Banks - Regional
LICI Life Insurance Corporation Of India Insurance - Life
BAJFINANCE Bajaj Finance Limited Credit Services

Summary

MAHABANK is expected to reach the target of 64.85 in tomorrow's trading session.

After achieving the initial target in MAHABANK, we will aim for higher targets of 66.10 tomorrow.

However, if MAHABANK starts to trade below ₹64.10, then we will shift our focus to the sell side and aim for down targets of 62.85 and 62.10.