ICICI Prudential Mutual Fund Stock Forecast
ICICI Prudential Mutual Fund stock price ended at ₹107.43 on Friday, after gaining 1.07%.
(Updated on May 17, 2024)
The ICICI Prudential Mutual Fund stock price gained 1.07% on the last trading day (Friday, 17th May 2024), rising from ₹106.29 to ₹107.43. 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 stock fluctuated 1.31% from a day low at ₹106.21 to a day high of ₹107.60. The price has risen in 6 of the last 10 days but is still down by -0.29% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 thousand more shares were traded than the day before. In total, 90 thousand shares were bought and sold for approximately ₹9.70 million.
The stock lies in the upper part of a wide 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 ₹109.39 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 5.70% during the next 3 months and, with a 90% probability hold a price between ₹104.99 and ₹115.62 at the end of this 3-month period.
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ICICIB22.BO Signals & Forecast
The ICICI Prudential Mutual Fund stock 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 ₹104.86 and ₹104.13. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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, May 02, 2024, and so far it has fallen -0.758%. 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).
Support, Risk & Stop-loss for ICICI Prudential Mutual Fund stock
ICICI Prudential Mutual Fund finds support from accumulated volume at ₹102.68 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹1.39 between high and low, or 1.31%. For the last week the stock has had daily average volatility of 1.77%.
Our recommended stop-loss: ₹103.05 (-4.08%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (ICICIB22.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect ICICI Prudential Mutual Fund to open at ₹107.08, and during the day (based on 14 day Average True Range), to move between ₹105.54 and ₹109.32, which gives a possible trading interval of +/-₹1.89 (+/-1.76%) up or down from last closing price. If ICICI Prudential Mutual Fund takes out the full calculated possible swing range there will be an estimated 3.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹107.74 (0.29%) than the support at ₹102.68 (4.42%), 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 ICICI Prudential Mutual Fund stock 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 ICICI Prudential Mutual Fund stock to perform well in the short-term.
Current score: 4.907 Buy Candidate Unchanged
Predicted Opening Price for ICICI Prudential Mutual Fund of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹107.08 ( 0.326%) | ₹107.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ICICIB22.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 108.47 | 0.97 % | |
| R2 | 107.94 | 0.474 % | ||
| R1 | 107.61 | 0.168 % | ||
| Current price: | 107.43 | |||
| Support | S1 | 106.55 | -0.82 % | |
| S2 | 106.22 | -1.13 % | ||
| S3 | 105.69 | -1.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 108.25 | 0.763 % | ||
| R1 | 107.74 | 0.289 % | ||
| Current price | 107.43 | |||
| Support | S1 | 102.68 | -4.42% | |
| S2 | 100.47 | -6.48% | ||
| S3 | 97.32 | -9.41% |
FAQ
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