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

Sonata Software Limited

Symbol: NSE:SONATSOFTW

ISIN: INE269A01021

737.65

As on 2024-07-24

469.60 (52W Low) 1,485.00 (52W High)

SONATSOFTW's Today's Performance

Sonata Software Limited started the day by opening at 683.50 today 2024-07-24. Its shares reached a high of 752.40 and dipped to a low of 680.10 in intraday. When the markets closed, SONATSOFTW’s stock price settled at ₹737.65 per share. Also check out its key support and resistance levels.

SONATSOFTW Buy/Sell Targets

Tomorrow, buy SONATSOFTW when its price reaches ₹ 737.65 with a stop-loss order at ₹ 710.44. You can set the target price as ₹ 764.86 to capture potential gains. This buy 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 SONATSOFTW 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 SONATSOFTW

Downside Targets Value in ₹
Tomorrow Down Target 1 767
Tomorrow Down Target 2 796
Tomorrow Down Target 3 839

Important Levels for SONATSOFTW

Holding Levels Value in ₹
Tomorrow Up Target 1 694
Tomorrow Up Target 2 651
Tomorrow Up Target 3 622
Based on where the stock opens tomorrow, if SONATSOFTW opens on a positive note, our first target will be ₹767. If Target 1 is achieved, we will aim for Target 2 which is ₹796.

But if SONATSOFTW falls below the average value of ₹723.38, you can enter a sell side position with target number 1 - ₹694 and second target - ₹651 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 SONATSOFTW

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

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

Tomorrow's Volume based share price Forecast for SONATSOFTW

SONATSOFTW'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 -42%.

Reversal detection for SONATSOFTW

Predicted trend chart of SONATSOFTW tomorrow for price forecast
SONATSOFTW may reverse its trend from upside (Short term bearish outlook) and we can get target of ₹677 in morning tomorrow
Target 1 tomorrow751
Target 2 tomorrow768
Target 3 tomorrow796
 

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 SONATSOFTW'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 SONATSOFTW opens on a positive note, our first target will be ₹766.67. If Target 1 is achieved, we will aim for Target 2 which is ₹795.68.

But if SONATSOFTW falls below the average value of ₹723.38, you can enter a sell side position with target number 1 - ₹694.37 and second target - ₹651.08

SONATSOFTW's Weekly Targets
1st Up Target 780.22
2nd Up Target 822.78
1st Down Target 667.27
2nd Down Target 596.88

As the week for SONATSOFTW ended on bullish sentiments, we can expect further continuation of this sentiment. SONATSOFTW's initial target will be 780.22 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 667.27 in the upcoming week.

Weekly OHLC Values
Open 661.80
High 752.40
Low 639.45
Close 737.65

Week for SONATSOFTW started with an open price of 661.80, and the close was at 737.65. SONATSOFTW reached the highest of 752.40 and dipped lowest up to 639.45 last week. This indicates a bullish sentiment for the week.

SONATSOFTW full month swing targets
Monthly Up Target 1 893.17
Monthly Up Target 2 935.73
Monthly Down Target 1 554.32
Monthly Down Target 2 370.98

Targets of ₹893.17 can be expected to be reached in the coming month. Once SONATSOFTW achieved this target, we can aim for the next upside target of ₹935.73.

SONATSOFTW if fails to hold upside, down targets of ₹554.32 and ₹370.98 can be achieved by end of this month.

For complete three weeks if SONATSOFTW 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 SONATSOFTW

Symbol Name Industry
TCS Tata Consultancy Services Limited Information Technology Services
INFY Infosys Limited Information Technology Services
CYIENTDLM Cyient DLM Limited Electronic Components
HCLTECH HCL Technologies Limited Information Technology Services
IDEAFORGE ideaForge Technology Limited Computer Hardware

Summary

SONATSOFTW is expected to reach the target of 766.67 in tomorrow's trading session.

After achieving the initial target in SONATSOFTW, we will aim for higher targets of 795.68 tomorrow.

However, if SONATSOFTW starts to trade below ₹723.38, then we will shift our focus to the sell side and aim for down targets of 694.37 and 651.08.