Nippon India Mutual Fund Stock Forecast

Red day on Friday for Nippon India Mutual Fund stock after losing 0%
(Updated on Jun 21, 2024)

08GPG.BO Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Nippon India Mutual Fund stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹0.83 and ₹0.81. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Nippon India Mutual Fund stock

Nippon India Mutual Fund finds support from accumulated volume at ₹0.790 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹0 between high and low, or 0%. For the last week the stock has had daily average volatility of 5.99%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (08GPG.BO) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Nippon India Mutual Fund to open at ₹0.80, and during the day (based on 14 day Average True Range), to move between ₹0.736 and ₹0.86, which gives a possible trading interval of +/-₹0.0638 (+/-7.97%) up or down from last closing price. If Nippon India Mutual Fund takes out the full calculated possible swing range there will be an estimated 15.95% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹0.81 (1.25%) than the support at ₹0.790 (1.25%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Nippon India Mutual Fund stock A Buy?

Nippon India Mutual Fund holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -1.532 Sell Candidate Unchanged

Predicted Opening Price for Nippon India Mutual Fund of Monday, June 24, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.