Nip Ind Etf Consumption ETF Forecast
Green day on Friday for Nip Ind Etf Consumption ETF after gaining 0.0978%
(Updated on Jun 28, 2024)
The Nip Ind Etf Consumption ETF price gained 0.0978% on the last trading day (Friday, 28th Jun 2024), rising from ₹122.69 to ₹122.81. During the last trading day the ETF fluctuated 1.94% from a day low at ₹122.13 to a day high of ₹124.50. The price has been going up and down for this period, and there has been a 0.2% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 428 more shares were traded than the day before. In total, 62 thousand shares were bought and sold for approximately ₹7.56 million.
The ETF lies in the middle of a narrow and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 5.95% during the next 3 months and, with a 90% probability hold a price between ₹128.37 and ₹133.89 at the end of this 3-month period.
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CONSUMBEES.NS Signals & Forecast
The Nip Ind Etf Consumption 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 ₹122.35 and ₹120.58. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 -0.97%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Nip Ind Etf Consumption ETF
Nip Ind Etf Consumption finds support from accumulated volume at ₹122.63 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 ₹2.37 (1.94%) between high and low. For the last week, the ETF has had daily average volatility of 1.53%.
Our recommended stop-loss: ₹118.02 (-3.90%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (CONSUMBEES.NS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Nip Ind Etf Consumption to open at ₹123.15, and during the day (based on 14 day Average True Range), to move between ₹120.04 and ₹125.58, which gives a possible trading interval of +/-₹2.77 (+/-2.26%) up or down from last closing price. If Nip Ind Etf Consumption takes out the full calculated possible swing range there will be an estimated 4.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹122.63 (0.15%) than the resistance at ₹123.47 (0.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Nip Ind Etf Consumption 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 Nip Ind Etf Consumption ETF to perform well in the short-term.
Current score: 2.305 Buy Candidate Unchanged
Predicted Opening Price for Nip Ind Etf Consumption of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹123.15 ( 0.274%) | ₹122.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CONSUMBEES.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 125.52 | 2.20% |
| R2 | 124.61 | 1.47% |
| R1 | 124.05 | 1.01% |
| Price | 122.81 | |
| S1 | 122.24 | -0.463% |
| S2 | 121.68 | -0.92% |
| S3 | 120.78 | -1.66% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 124.01 | 0.98% |
| R1 | 123.47 | 0.537% |
| Price | 122.81 | |
| S1 | 122.63 | -0.147% |
| S2 | 119.73 | -2.51% |
| S3 | 117.74 | -4.13% |
FAQ
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