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

SKM Egg Products Export (India) Limited

Symbol: NSE:SKMEGGPROD

ISIN: INE411D01015

295.30

As on 2024-04-12

137.05 (52W Low) 560.40 (52W High)

SKMEGGPROD's Today's Performance

SKM Egg Products Export (India) Limited started the day by opening at 304.00 today 2024-04-12. Its shares reached a high of 304.00 and dipped to a low of 293.00 in intraday. When the markets closed, SKMEGGPROD’s stock price settled at ₹295.30 per share. Also check out its key support and resistance levels.

SKMEGGPROD Buy/Sell Targets

Tomorrow, sell SKMEGGPROD when its price reaches ₹ 295.30 with a stop-loss order at ₹ 308.45. You can set the target price as ₹ 282.15 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 SKMEGGPROD 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 SKMEGGPROD

Resistance Levels Value in ₹
Tomorrow Resistance 1 302
Tomorrow Resistance 2 308
Tomorrow Resistance 3 313

Important Supports for SKMEGGPROD

Support Levels Value in ₹
Tomorrow Support 1 291
Tomorrow Support 2 286
Tomorrow Support 3 280
Based on where the stock opens tomorrow, if SKMEGGPROD opens on a positive note, our first target will be ₹302. If Target 1 is achieved, we will aim for Target 2 which is ₹308.

But if SKMEGGPROD falls below the average value of ₹297.43, you can enter a sell side position with target number 1 - ₹291 and second target - ₹286 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 SKMEGGPROD

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

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

Tomorrow's Volume based share price Forecast for SKMEGGPROD

SKMEGGPROD's Volume is currently in a Increasing 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 -67%.

Reversal detection for SKMEGGPROD

Predicted trend chart of SKMEGGPROD tomorrow for price forecast
SKMEGGPROD may trend may continue to be bearish since stock is making lower low and we can get target of ₹310 in morning tomorrow
Target 1 tomorrow302
Target 2 tomorrow304
Target 3 tomorrow308
 

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 SKMEGGPROD'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 SKMEGGPROD opens on a positive note, our first target will be ₹301.87. If Target 1 is achieved, we will aim for Target 2 which is ₹308.43.

But if SKMEGGPROD falls below the average value of ₹297.43, you can enter a sell side position with target number 1 - ₹290.87 and second target - ₹286.43

SKMEGGPROD's Weekly Targets
1st Up Target 324.25
2nd Up Target 353.20
1st Down Target 277.10
2nd Down Target 258.90

As the week for SKMEGGPROD ended on bearish sentiments, we can expect further continuation of this sentiment. SKMEGGPROD's initial target will be 324.25 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 277.10 in the upcoming week.

Weekly OHLC Values
Open 320.15
High 335.00
Low 287.85
Close 295.30

Week for SKMEGGPROD started with an open price of 320.15, and the close was at 295.30. SKMEGGPROD reached the highest of 335.00 and dipped lowest up to 287.85 last week. This indicates a bearish sentiment for the week.

SKMEGGPROD full month swing targets
Monthly Up Target 1 371.40
Monthly Up Target 2 400.35
Monthly Down Target 1 229.95
Monthly Down Target 2 164.60

Targets of ₹371.40 can be expected to be reached in the coming month. Once SKMEGGPROD achieved this target, we can aim for the next upside target of ₹400.35.

SKMEGGPROD if fails to hold upside, down targets of ₹229.95 and ₹164.60 can be achieved by end of this month.

For complete three weeks if SKMEGGPROD 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

SKMEGGPROD is expected to reach the target of 301.87 in tomorrow's trading session.

After achieving the initial target in SKMEGGPROD, we will aim for higher targets of 308.43 tomorrow.

However, if SKMEGGPROD starts to trade below ₹297.43, then we will shift our focus to the sell side and aim for down targets of 290.87 and 286.43.