Hdfc Mutual Fund Trust Forecast

Red day on Friday for Hdfc Mutual Fund
(Updated on Jun 28, 2024)

HDFCQUAL.BO Signals & Forecast

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 ₹57.01 and ₹55.49. A breakdown below any of these levels will issue sell signals. 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 Wednesday, June 19, 2024, and so far it has fallen -1.42%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. The trust had a Golden Star Signal on Wednesday, April 24, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the trust in question.

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

Hdfc Mutual Fund finds support from accumulated volume at ₹56.58 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 ₹0.82 between high and low, or 1.44%. For the last week the trust has had daily average volatility of 1.08%

Our recommended stop-loss: ₹54.79 (-3.95%) (This trust has low daily movements and this gives low risk. There is a sell signal from a pivot top found 17 days ago.)

Trading Expectations (HDFCQUAL.BO) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Hdfc Mutual Fund to open at ₹57.22, and during the day (based on 14 day Average True Range), to move between ₹56.04 and ₹58.04, which gives a possible trading interval of +/-₹1.00 (+/-1.75%) up or down from last closing price. If Hdfc Mutual Fund takes out the full calculated possible swing range there will be an estimated 3.51% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹57.17 (0.23%) than the support at ₹56.58 (0.81%), 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.

Current score: 1.827 Buy Candidate Unchanged

Predicted Opening Price for Hdfc Mutual Fund of Monday, July 1, 2024

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