Hdfc Mutual Fund Trust Forecast

Hdfc Mutual Fund trust upgraded to Buy Candidate.
(Updated on Jun 28, 2024)

HDFCSENSEX.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 ₹86.61 and ₹83.88. A breakdown below any of these levels will issue sell signals. 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 Thursday, June 27, 2024, and so far it has fallen -0.0911%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this trust may have low liquidity in periods, which increases the general risk. The trust had a Golden Star Signal on Wednesday, May 15, 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 ₹83.54 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 ₹1.15 between high and low, or 1.32%. For the last week the trust has had daily average volatility of 1.04%

The Hdfc Mutual Fund trust is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some trusts may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the trust manages to break the trend before that occurs.

Our recommended stop-loss: ₹84.89 (-3.21%) (This trust has low daily movements and this gives low risk. The RSI14 is 90 and this increases the risk substantially. There is a sell signal from a pivot top found 16 days ago.)

Trading Expectations (HDFCSENSEX.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 ₹87.58, and during the day (based on 14 day Average True Range), to move between ₹86.33 and ₹89.07, which gives a possible trading interval of +/-₹1.37 (+/-1.56%) up or down from last closing price. If Hdfc Mutual Fund takes out the full calculated possible swing range there will be an estimated 3.13% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹87.78 (0.09%) than the support at ₹83.54 (4.74%), 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: 3.049 Buy Candidate Upgraded

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.