Hdfc Mutual Fund Trust Forecast

Stronger technical forecast for Hdfc Mutual Fund trust price after Friday trading.
(Updated on Jun 28, 2024)

HDFCSML250.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 ₹171.24 and ₹162.13. 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 12.32%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

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

On the downside, the trust finds support just below today's level from accumulated volume at ₹158.70 and ₹151.55. There is a natural risk involved when a trust is testing a support level, since if this is broken, the trust then may fall to the next support level. In this case, Hdfc Mutual Fund finds support just below today's level at ₹158.70. If this is broken, then the next support from accumulated volume will be at ₹151.55 and ₹147.59.

This trust has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the trust moved ₹1.85 between high and low, or 1.08%. For the last week, the trust has had daily average volatility of 1.37%.

The Hdfc Mutual Fund trust is extremely overbought on RSI14 (84). Normally this may pose a good selling opportunity but since the trust has broken the trend up, the chance for a major correction due to high RSI is very small as the trust will find support at the trend broken.

Our recommended stop-loss: ₹163.93 (-4.83%) (This trust has medium daily movements and this gives medium risk. The RSI14 is 84 and this increases the risk substantially. There is a buy signal from a pivot bottom found 18 days ago.)

Trading Expectations (HDFCSML250.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 ₹172.03, and during the day (based on 14 day Average True Range), to move between ₹169.01 and ₹175.49, which gives a possible trading interval of +/-₹3.24 (+/-1.88%) up or down from last closing price. If Hdfc Mutual Fund takes out the full calculated possible swing range there will be an estimated 3.76% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ₹158.70, some ₹13.55 (7.87%) from the current price of ₹172.25, our system finds the risk reward attractive.

Is Hdfc Mutual Fund trust A Buy?

Hdfc Mutual Fund holds several positive signals and has broken the strong rising trend up. As the trust is also in great technical shape 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: 5.250 Strong 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.