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

Monte Carlo Fashions Limited

Symbol: NSE:MONTECARLO

ISIN: INE950M01013

675.25

As on 2024-07-12

565.00 (52W Low) 918.00 (52W High)

MONTECARLO's Today's Performance

Monte Carlo Fashions Limited started the day by opening at 692.00 today 2024-07-12. Its shares reached a high of 700.00 and dipped to a low of 671.05 in intraday. When the markets closed, MONTECARLO’s stock price settled at ₹675.25 per share. Also check out its key support and resistance levels.

MONTECARLO Buy/Sell Targets

Tomorrow, sell MONTECARLO when its price reaches ₹ 675.25 with a stop-loss order at ₹ 689.03. You can set the target price as ₹ 661.47 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 MONTECARLO 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 MONTECARLO

Downside Targets Value in ₹
Tomorrow Down Target 1 693
Tomorrow Down Target 2 711
Tomorrow Down Target 3 722

Important Levels for MONTECARLO

Holding Levels Value in ₹
Tomorrow Up Target 1 664
Tomorrow Up Target 2 653
Tomorrow Up Target 3 635
Based on where the stock opens tomorrow, if MONTECARLO opens on a positive note, our first target will be ₹693. If Target 1 is achieved, we will aim for Target 2 which is ₹711.

But if MONTECARLO falls below the average value of ₹682.10, you can enter a sell side position with target number 1 - ₹664 and second target - ₹653 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 MONTECARLO

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

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

Tomorrow's Volume based share price Forecast for MONTECARLO

MONTECARLO'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 -27%.

Reversal detection for MONTECARLO

Predicted trend chart of MONTECARLO tomorrow for price forecast
MONTECARLO may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹689 in morning tomorrow
Target 1 tomorrow693
Target 2 tomorrow700
Target 3 tomorrow711
 

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 MONTECARLO'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 MONTECARLO opens on a positive note, our first target will be ₹693.15. If Target 1 is achieved, we will aim for Target 2 which is ₹711.05.

But if MONTECARLO falls below the average value of ₹682.10, you can enter a sell side position with target number 1 - ₹664.20 and second target - ₹653.15

MONTECARLO's Weekly Targets
1st Up Target 707.30
2nd Up Target 739.35
1st Down Target 652.90
2nd Down Target 630.55

As the week for MONTECARLO ended on bearish sentiments, we can expect further continuation of this sentiment. MONTECARLO's initial target will be 707.30 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 652.90 in the upcoming week.

Weekly OHLC Values
Open 692.00
High 717.00
Low 662.60
Close 675.25

Week for MONTECARLO started with an open price of 692.00, and the close was at 675.25. MONTECARLO reached the highest of 717.00 and dipped lowest up to 662.60 last week. This indicates a bearish sentiment for the week.

MONTECARLO full month swing targets
Monthly Up Target 1 761.70
Monthly Up Target 2 793.75
Monthly Down Target 1 598.50
Monthly Down Target 2 521.75

Targets of ₹761.70 can be expected to be reached in the coming month. Once MONTECARLO achieved this target, we can aim for the next upside target of ₹793.75.

MONTECARLO if fails to hold upside, down targets of ₹598.50 and ₹521.75 can be achieved by end of this month.

For complete three weeks if MONTECARLO 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

MONTECARLO is expected to reach the target of 693.15 in tomorrow's trading session.

After achieving the initial target in MONTECARLO, we will aim for higher targets of 711.05 tomorrow.

However, if MONTECARLO starts to trade below ₹682.10, then we will shift our focus to the sell side and aim for down targets of 664.20 and 653.15.