Aditya Birla Sun Life Mutual F ETF Forecast

Aditya Birla Sun Life Mutual F ETF price down 0.135% on Tuesday
(Updated on Jun 25, 2024)

ABSLNN50ET.BO Signals & Forecast

The Aditya Birla Sun Life Mutual F ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately ₹74.24. On a fall, the ETF will find some support from the long-term average at approximately ₹70.85. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -1.09%. Further fall is indicated until a new bottom pivot has been found. Aditya Birla Sun Life Mutual F gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

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

Aditya Birla Sun Life Mutual F finds support from accumulated volume at ₹70.84 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 ₹0.420 (0.569%) between high and low. For the last week, the ETF has had daily average volatility of 2.24%.

Our recommended stop-loss: ₹72.19 (-2.55%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 14 days ago.)

Trading Expectations (ABSLNN50ET.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 ₹74.07, and during the day (based on 14 day Average True Range), to move between ₹71.79 and ₹76.37, which gives a possible trading interval of +/-₹2.29 (+/-3.09%) 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 6.18% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹74.35 (0.36%) than the support at ₹70.84 (4.37%), 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 Aditya Birla Sun Life Mutual F ETF A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Aditya Birla Sun Life Mutual F ETF to perform well in the short-term.

Current score: 2.314 Buy Candidate Unchanged

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.