Hdfc Mutual Fund Trust Forecast

Hdfc Mutual Fund trust price ended at ₹35.46 on Wednesday, after losing 0.644%.
(Updated on Jun 26, 2024)

HDFCMOMENT.BO Signals & Forecast

A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -3.01%. 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 rose on falling prices yesterday. This may be an early warning and the trust should be followed more closely. Some positive signals were issued as well, and these may have some influence on the near short-term development. 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 ₹35.90. On a fall, the trust will find some support from the long-term average at approximately ₹34.68. 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.

Support, Risk & Stop-loss for Hdfc Mutual Fund trust

Hdfc Mutual Fund finds support from accumulated volume at ₹34.07 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 ₹0.690 (1.95%) between high and low. For the last week, the trust has had daily average volatility of 2.14%.

Our recommended stop-loss: ₹34.40 (-3.00%) (This trust has low daily movements and this gives low risk. There is a sell signal from a pivot top found 14 days ago.)

Trading Expectations (HDFCMOMENT.BO) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Hdfc Mutual Fund to open at ₹35.65, and during the day (based on 14 day Average True Range), to move between ₹34.49 and ₹36.43, which gives a possible trading interval of +/-₹0.97 (+/-2.75%) up or down from last closing price. If Hdfc Mutual Fund takes out the full calculated possible swing range there will be an estimated 5.49% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹35.90 (1.24%) than the support at ₹34.07 (3.92%), 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?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.

Current score: 2.293 Buy Candidate Unchanged

Predicted Opening Price for Hdfc Mutual Fund of Thursday, June 27, 2024

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