Mirae Asset Mutual Fund Trust Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Friday for Mirae Asset Mutual Fund trust after losing 0.479%
(Updated on Jun 28, 2024)
The Mirae Asset Mutual Fund trust price fell by -0.479% on the last day (Friday, 28th Jun 2024) from ₹530.60 to ₹528.06. During the last trading day the trust fluctuated 0.527% from a day low at ₹527.32 to a day high of ₹530.10. The price has risen in 7 of the last 10 days and is up by 5.62% over the past 2 weeks. Volume fell on the last day along with the trust, which is actually a good sign as volume should follow the trust. On the last day, the trading volume fell by -178 shares and in total, 23 shares were bought and sold for approximately ₹12.15 thousand.
The trust lies in the upper part of a weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ₹532.23 will firstly indicate a stronger rate of rising. Given the current short-term trend, the trust is expected to rise 8.55% during the next 3 months and, with a 90% probability hold a price between ₹540.02 and ₹577.72 at the end of this 3-month period.
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BANKETF.BO Signals & Forecast
The Mirae Asset Mutual Fund trust 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 ₹525.73 and ₹499.12. A breakdown below any of these levels will issue sell signals. 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 Wednesday, June 26, 2024, and so far it has fallen -0.522%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this trust may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Mirae Asset Mutual Fund trust
Mirae Asset Mutual Fund finds support from accumulated volume at ₹516.94 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This trust has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the trust moved ₹2.78 between high and low, or 0.527%. For the last week the trust has had daily average volatility of 0.92%.
The Mirae Asset Mutual Fund trust is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the trust is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some trusts may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the trust manages to break the trend before that occurs.
Our recommended stop-loss: ₹509.94 (-3.43%) (This trust has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (BANKETF.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Mirae Asset Mutual Fund to open at ₹528.49, and during the day (based on 14 day Average True Range), to move between ₹519.89 and ₹536.23, which gives a possible trading interval of +/-₹8.17 (+/-1.55%) up or down from last closing price. If Mirae Asset Mutual Fund takes out the full calculated possible swing range there will be an estimated 3.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹530.60 (0.48%) than the support at ₹516.94 (2.11%), 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 Mirae Asset Mutual Fund trust 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 Mirae Asset Mutual Fund trust to perform well in the short-term.
Current score: 2.977 Buy Candidate Unchanged
Predicted Opening Price for Mirae Asset Mutual Fund of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹528.49 ( 0.0821%) | ₹528.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BANKETF.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 531.27 | 0.609% |
| R2 | 530.21 | 0.407% |
| R1 | 529.56 | 0.283% |
| Price | 528.06 | |
| S1 | 527.43 | -0.119% |
| S2 | 526.78 | -0.243% |
| S3 | 525.71 | -0.444% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 530.83 | 0.525% |
| R1 | 530.60 | 0.481% |
| Price | 528.06 | |
| S1 | 516.94 | -2.11% |
| S2 | 492.07 | -6.82% |
| S3 | 488.48 | -7.50% |
FAQ
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