Aditya Birla Sun Life Gold ETF Forecast

Red day on Thursday for Aditya Birla Sun Life Gold
(Updated on May 02, 2024)

BSLGOLDETF.BO Signals & Forecast

The Aditya Birla Sun Life Gold 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 ₹65.75 and ₹62.13. A breakdown below any of these levels will issue sell signals. 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, April 30, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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. The ETF had a Golden Star Signal on Tuesday, July 11, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

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

Aditya Birla Sun Life Gold finds support from accumulated volume at ₹65.48 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the ETF tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved ₹0 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0%

Our recommended stop-loss: ₹63.49 (-3.44%) (This ETF has low daily movements and this gives low risk. The RSI14 is 78 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (BSLGOLDETF.BO) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Aditya Birla Sun Life Gold to open at ₹65.75, and during the day (based on 14 day Average True Range), to move between ₹65.17 and ₹66.33, which gives a possible trading interval of +/-₹0.582 (+/-0.89%) up or down from last closing price. If Aditya Birla Sun Life Gold takes out the full calculated possible swing range there will be an estimated 1.77% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ₹65.48, some ₹0.270 (0.41%) from the current price of ₹65.75, our system finds the risk reward attractive.

Is Aditya Birla Sun Life Gold ETF A Buy?

Aditya Birla Sun Life Gold holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Aditya Birla Sun Life Gold of Friday, May 3, 2024

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