Bharat 22 Etf ETF Forecast
Bharat 22 Etf ETF price ended at ₹112.93 on Thursday, after gaining 0.320%.
(Updated on Jul 04, 2024)
The Bharat 22 Etf ETF price gained 0.320% on the last trading day (Thursday, 4th Jul 2024), rising from ₹112.57 to ₹112.93. It has now gained 8 days in a row. It is not often that ETFS manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the ETF fluctuated 1.65% from a day low at ₹112.02 to a day high of ₹113.87. The price has risen in 8 of the last 10 days and is up by 1.85% over the past 2 weeks. Volume fell on the last day by -758 thousand shares and in total, 1 million shares were bought and sold for approximately ₹113.10 million. 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 ETF lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 2.45% during the next 3 months and, with a 90% probability hold a price between ₹107.84 and ₹120.97 at the end of this 3-month period.
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ICICIB22.NS Signals & Forecast
Mostly positive signals in the chart today. The Bharat 22 Etf ETF 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 ₹111.68 and ₹110.28. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 9.49%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely.
Support, Risk & Stop-loss for Bharat 22 Etf ETF
On the downside, the ETF finds support just below today's level from accumulated volume at ₹106.84 and ₹104.49. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Bharat 22 Etf finds support just below today's level at ₹106.84. If this is broken, then the next support from accumulated volume will be at ₹104.49 and ₹103.14.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved ₹1.85 between high and low, or 1.65%. For the last week the ETF has had daily average volatility of 1.75%.
Since the Bharat 22 Etf has been rising for 8 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the ETF is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: ₹109.01 (-3.47%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (ICICIB22.NS) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Bharat 22 Etf to open at ₹112.94, and during the day (based on 14 day Average True Range), to move between ₹109.41 and ₹116.45, which gives a possible trading interval of +/-₹3.52 (+/-3.12%) up or down from last closing price. If Bharat 22 Etf takes out the full calculated possible swing range there will be an estimated 6.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹115.85 (2.59%) than the support at ₹106.84 (5.39%), 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 Bharat 22 Etf ETF 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 Bharat 22 Etf ETF to perform well in the short-term.
Current score: 2.987 Buy Candidate Unchanged
Predicted Opening Price for Bharat 22 Etf of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| ₹112.94 ( 0.0089%) | ₹112.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ICICIB22.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 114.79 | 1.65% |
| R2 | 114.08 | 1.02% |
| R1 | 113.65 | 0.635% |
| Price | 112.93 | |
| S1 | 112.23 | -0.617% |
| S2 | 111.80 | -1.00% |
| S3 | 111.09 | -1.63% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 115.85 | 2.59% |
| Price | 112.93 | |
| S1 | 106.84 | -5.39% |
| S2 | 104.49 | -7.47% |
| S3 | 103.14 | -8.67% |
FAQ
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