Aditya Birla Sun Life Sensex ETF Stock Forecast
Weaker technical forecast for Aditya Birla Sun Life Sensex ETF as stock downgraded to Hold/Accumulate.
(Updated on Jun 25, 2024)
The Aditya Birla Sun Life Sensex ETF stock price gained 1.88% on the last trading day (Tuesday, 25th Jun 2024), rising from ₹76.00 to ₹77.43. During the last trading day the stock fluctuated 1.81% from a day low at ₹76.14 to a day high of ₹77.52. The price has risen in 4 of the last 10 days and is up by 2.6% over the past 2 weeks. Volume fell on the last day by -262 shares and in total, 410 shares were bought and sold for approximately ₹31.75 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the narrow and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ₹76.98, a level that may pose a second chance to hit a runner. According to fan-theory ₹80.50 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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BSLSENETFG.BO Signals & Forecast
The Aditya Birla Sun Life Sensex ETF stock 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 ₹76.21 and ₹73.98. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 8.80%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Thursday, May 16, 2024 in the short-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 stock in question.
Golden Star
The stock had a Golden Star Signal on Thursday, May 16, 2024 in the short-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 stock in question.
Support, Risk & Stop-loss for Aditya Birla Sun Life Sensex ETF stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹73.38 and ₹72.88. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Aditya Birla Sun Life Sensex ETF finds support just below today's level at ₹73.38. If this is broken, then the next support from accumulated volume will be at ₹72.88 and ₹72.27.
In general the stock 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 stock During the last day, the stock moved ₹1.38 between high and low, or 1.81%. For the last week the stock has had daily average volatility of 2.60%
Our recommended stop-loss: ₹75.01 (-3.12%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 49 days ago.)
Trading Expectations (BSLSENETFG.BO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Aditya Birla Sun Life Sensex ETF to open at ₹77.03, and during the day (based on 14 day Average True Range), to move between ₹75.51 and ₹79.35, which gives a possible trading interval of +/-₹1.92 (+/-2.48%) up or down from last closing price. If Aditya Birla Sun Life Sensex ETF takes out the full calculated possible swing range there will be an estimated 4.97% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹73.38, some ₹4.05 (5.23%) from the current price of ₹77.43, our system finds the risk reward attractive.
Is Aditya Birla Sun Life Sensex ETF stock A Buy?
Aditya Birla Sun Life Sensex ETF 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 Sensex ETF of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹77.03 ( 0.517%) | ₹77.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BSLSENETFG.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 78.41 | 1.27% |
| R2 | 77.88 | 0.585% |
| R1 | 77.56 | 0.164% |
| Price | 77.43 | |
| S1 | 76.50 | -1.20% |
| S2 | 76.18 | -1.62% |
| S3 | 75.65 | -2.30% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 77.43 | |
| S1 | 73.38 | -5.23% |
| S2 | 72.88 | -5.88% |
| S3 | 72.27 | -6.66% |
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