Mirae Asset Mutual Fund Trust Forecast

Stronger technical forecast for Mirae Asset Mutual Fund trust price after Friday trading.
(Updated on Jun 28, 2024)

BFSI.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 ₹23.82 and ₹22.57. 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 Thursday, June 27, 2024, and so far it has fallen -0.91%. Further fall is indicated until a new bottom pivot has been found. Mirae Asset Mutual Fund 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".

Support, Risk & Stop-loss for Mirae Asset Mutual Fund trust

Mirae Asset Mutual Fund finds support from accumulated volume at ₹23.03 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 and with good trading volume, the risk is considered to be medium. During the last day, the trust moved ₹0.550 between high and low, or 2.32%. For the last week, the trust has had daily average volatility of 1.64%.

The Mirae Asset Mutual Fund trust is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but 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: ₹23.41 (-2.31%) (This trust has medium daily movements and this gives medium risk. The RSI14 is 87 and this increases the risk substantially. There is a sell signal from a pivot top found 17 days ago.)

Trading Expectations (BFSI.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 ₹23.97, and during the day (based on 14 day Average True Range), to move between ₹23.50 and ₹24.42, which gives a possible trading interval of +/-₹0.462 (+/-1.93%) 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 3.86% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹24.01 (0.21%) than the support at ₹23.03 (3.88%), 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. We have upgraded our analysis conclusion for this trust since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.696 Buy Candidate Upgraded

Predicted Opening Price for Mirae Asset Mutual Fund of Monday, July 1, 2024

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