Aditya Birla Sun Life Mutual F ETF Forecast

Stronger technical forecast for Aditya Birla Sun Life Mutual F ETF price after Tuesday trading.
(Updated on Jun 25, 2024)

ABSLBANETF.BO Signals & Forecast

Mostly positive signals in the chart today. The Aditya Birla Sun Life Mutual F ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹52.22 and ₹49.92. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 7.13%. 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). Aditya Birla Sun Life Mutual F has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.

Support, Risk & Stop-loss for Aditya Birla Sun Life Mutual F ETF

On the downside, the ETF finds support just below today's level from accumulated volume at ₹50.26 and ₹49.65. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Aditya Birla Sun Life Mutual F finds support just below today's level at ₹50.26. If this is broken, then the next support from accumulated volume will be at ₹49.65 and ₹49.42.

This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved ₹1.05 (2.01%) between high and low. For the last week, the ETF has had daily average volatility of 1.93%.

The Aditya Birla Sun Life Mutual F ETF is extremely overbought on RSI14 (79). Normally this may pose a good selling opportunity but since the ETF has broken the trend up, the chance for a major correction due to high RSI is very small as the ETF will find support at the trend broken.

Our recommended stop-loss: ₹50.69 (-4.71%) (This ETF has low daily movements and this gives low risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from a pivot bottom found 15 days ago.)

Trading Expectations (ABSLBANETF.BO) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Aditya Birla Sun Life Mutual F to open at ₹52.98, and during the day (based on 14 day Average True Range), to move between ₹51.58 and ₹54.80, which gives a possible trading interval of +/-₹1.61 (+/-3.03%) up or down from last closing price. If Aditya Birla Sun Life Mutual F takes out the full calculated possible swing range there will be an estimated 6.05% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ₹50.26, some ₹2.93 (5.51%) from the current price of ₹53.19, our system finds the risk reward attractive.

Is Aditya Birla Sun Life Mutual F ETF A Buy?

Aditya Birla Sun Life Mutual F holds several positive signals and has broken the weak rising trend up. As the ETF is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 5.843 Strong Buy Candidate Upgraded

Predicted Opening Price for Aditya Birla Sun Life Mutual F of Wednesday, June 26, 2024

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