Hdfc Mutual Fund Trust Forecast

Hdfc Mutual Fund trust downgraded from Buy Candidate to Hold/Accumulate after Monday trading session.
(Updated on Jun 24, 2024)

HDFCLOWVOL.BO Signals & Forecast

The Hdfc Mutual Fund trust holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the trust giving a positive forecast for the stock. On further gains, the trust will meet resistance from the short-term Moving Average at approximately ₹19.06. On a fall, the trust will find some support from the long-term average at approximately ₹18.43. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Friday, June 21, 2024, and so far it has fallen -0.418%. Further fall is indicated until a new bottom pivot has been found. Hdfc 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 Hdfc Mutual Fund trust

Hdfc Mutual Fund finds support from accumulated volume at ₹18.73 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This trust is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the trust moved ₹1.25 (6.66%) between high and low. For the last week, the trust has had daily average volatility of 3.79%.

Our recommended stop-loss: ₹18.51 (-2.78%) (This trust has low daily movements and this gives low risk. There is a sell signal from a pivot top found 13 days ago.)

Trading Expectations (HDFCLOWVOL.BO) For The Upcoming Trading Day Of Tuesday 25th

For the upcoming trading day on Tuesday, 25th we expect Hdfc Mutual Fund to open at ₹19.27, and during the day (based on 14 day Average True Range), to move between ₹18.44 and ₹19.64, which gives a possible trading interval of +/-₹0.598 (+/-3.14%) up or down from last closing price. If Hdfc Mutual Fund takes out the full calculated possible swing range there will be an estimated 6.28% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹19.09 (0.26%) than the support at ₹18.73 (1.63%), 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 Hdfc Mutual Fund trust A Buy?

Hdfc Mutual Fund 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 trust since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.587 Hold/Accumulate Downgraded

Predicted Opening Price for Hdfc Mutual Fund of Tuesday, June 25, 2024

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