Hdfc Mutual Fund Trust Forecast
Hdfc Mutual Fund trust upgraded from Hold/Accumulate to Buy Candidate after Monday trading session.
(Updated on Jun 24, 2024)
The Hdfc Mutual Fund trust price gained 0.402% on the last trading day (Monday, 24th Jun 2024), rising from ₹24.90 to ₹25.00. During the last trading day the trust fluctuated 0.321% from a day low at ₹24.92 to a day high of ₹25.00. The price has risen in 8 of the last 10 days and is up by 2.12% over the past 2 weeks. Volume fell on the last day by -4 thousand shares and in total, 6 thousand shares were bought and sold for approximately ₹153.08 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 trust lies in the upper part of a narrow and 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 ₹25.19 will firstly indicate a stronger rate of rising. Given the current short-term trend, the trust is expected to rise 7.49% during the next 3 months and, with a 90% probability hold a price between ₹25.89 and ₹27.08 at the end of this 3-month period.
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HDFCNIF100.BO Signals & Forecast
There are mixed signals in the trust today. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -0.517%. 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 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 also not. 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 ₹24.99 and ₹24.22. A breakdown below any of these levels will issue sell signals.
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 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 trust During the last day, the trust moved ₹0.0800 between high and low, or 0.321%. For the last week the trust has had daily average volatility of 1.40%
Our recommended stop-loss: ₹24.14 (-3.44%) (This trust has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (HDFCNIF100.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 ₹24.97, and during the day (based on 14 day Average True Range), to move between ₹24.43 and ₹25.57, which gives a possible trading interval of +/-₹0.574 (+/-2.30%) up or down from last closing price. If Hdfc Mutual Fund takes out the full calculated possible swing range there will be an estimated 4.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹25.01 (0.04%) than the support at ₹24.11 (3.56%), 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 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 Hdfc Mutual Fund trust to perform well in the short-term. We have upgraded our analysis conclusion for this trust since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.414 Buy Candidate Upgraded
Predicted Opening Price for Hdfc Mutual Fund of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| ₹24.97 ( 0.107%) | ₹25.00 |
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 | 25.05 | 0.213% |
| R2 | 25.02 | 0.0911% |
| R1 | 25.00 | 0.0156% |
| Price | 25.00 | |
| S1 | 24.94 | -0.229% |
| S2 | 24.92 | -0.304% |
| S3 | 24.89 | -0.427% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.13 | 0.520% |
| R2 | 25.03 | 0.120% |
| R1 | 25.01 | 0.0400% |
| Price | 25.00 | |
| S1 | 24.11 | -3.56% |
| S2 | 23.99 | -4.04% |
| S3 | 23.16 | -7.36% |
FAQ
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