Hdfc Mutual Fund Trust Forecast
Hdfc Mutual Fund trust upgraded to Strong Buy Candidate.
(Updated on Jun 20, 2024)
The Hdfc Mutual Fund trust price gained 0.279% on the last trading day (Thursday, 20th Jun 2024), rising from ₹25.06 to ₹25.13. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the trust fluctuated 1.33% from a day low at ₹24.88 to a day high of ₹25.21. The price has risen in 9 of the last 10 days and is up by 4.75% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 16 thousand more shares were traded than the day before. In total, 17 thousand shares were bought and sold for approximately ₹416.45 thousand.
The trust lies in the upper part of a weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ₹25.36 will firstly indicate a stronger rate of rising. Given the current short-term trend, the trust is expected to rise 7.34% during the next 3 months and, with a 90% probability hold a price between ₹25.78 and ₹27.22 at the end of this 3-month period.
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HDFCNIF100.BO Signals & Forecast
Mostly positive signals in the chart today. The Hdfc Mutual Fund trust 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 ₹24.95 and ₹24.16. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 05, 2024, and so far it has risen 4.75%. 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). Hdfc Mutual Fund has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
A buy signal from a double bottom formation was found on Thursday, May 09, 2024 with a target of ₹24.32. Despite whether the objective of the signal formation has been reached the trust may continue to perform well.
Support, Risk & Stop-loss for Hdfc Mutual Fund trust
Hdfc Mutual Fund finds support from accumulated volume at ₹24.11 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the trust tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the trust moved ₹0.330 between high and low, or 1.33%. For the last week the trust has had daily average volatility of 1.66%.
Our recommended stop-loss: ₹23.93 (-4.76%) (This trust has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (HDFCNIF100.BO) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Hdfc Mutual Fund to open at ₹25.07, and during the day (based on 14 day Average True Range), to move between ₹24.50 and ₹25.76, which gives a possible trading interval of +/-₹0.626 (+/-2.49%) up or down from last closing price. If Hdfc Mutual Fund takes out the full calculated possible swing range there will be an estimated 4.98% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹24.11, some ₹1.02 (4.06%) from the current price of ₹25.13, our system finds the risk reward attractive.
Is Hdfc Mutual Fund trust A Buy?
Hdfc Mutual Fund holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this trust since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.602 Strong Buy Candidate Upgraded
Predicted Opening Price for Hdfc Mutual Fund of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| ₹25.07 ( 0.225%) | ₹25.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HDFCNIF100.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.40 | 1.09% |
| R2 | 25.28 | 0.586% |
| R1 | 25.20 | 0.276% |
| Price | 25.13 | |
| S1 | 24.95 | -0.727% |
| S2 | 24.87 | -1.04% |
| S3 | 24.74 | -1.54% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 25.13 | |
| S1 | 24.11 | -4.06% |
| S2 | 23.99 | -4.54% |
| S3 | 23.16 | -7.84% |
FAQ
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