Kotak Nifty Exchange Traded Scheme Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Kotak Nifty Exchange Traded Scheme stock price ended at ₹235.31 on Monday, after losing 0%.
(Updated on May 06, 2024)
No changes to the price of Kotak Nifty Exchange Traded Scheme stock on the last trading day (Monday, 6th May 2024). During the last trading day the stock fluctuated 0% from a day low at ₹235.31 to a day high of ₹235.31. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks.
The stock is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at ₹234.04 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Kotak Nifty Exchange Traded Scheme stock with a 90% probability to be traded between ₹231.60 and ₹238.14 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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KOTAKNIFTY.BO Signals & Forecast
There are mixed signals in the stock today. The Kotak Nifty Exchange Traded Scheme stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹235.31 and ₹235.90. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Tuesday, March 19, 2024, and so far it has fallen 0%. 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).
Support, Risk & Stop-loss for Kotak Nifty Exchange Traded Scheme stock
Kotak Nifty Exchange Traded Scheme finds support from accumulated volume at ₹235.18 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 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 stock During the last day, the stock moved ₹0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%
Our recommended stop-loss: ₹221.19 (-6.00%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (KOTAKNIFTY.BO) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Kotak Nifty Exchange Traded Scheme to open at ₹235.31, and during the day (based on 14 day Average True Range), to move between ₹234.98 and ₹235.64, which gives a possible trading interval of +/-₹0.329 (+/-0.14%) up or down from last closing price. If Kotak Nifty Exchange Traded Scheme takes out the full calculated possible swing range there will be an estimated 0.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹235.18 (0.06%) than the resistance at ₹237.12 (0.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Kotak Nifty Exchange Traded Scheme stock A Buy?
Kotak Nifty Exchange Traded Scheme holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Kotak Nifty Exchange Traded Scheme of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ₹235.31 ( 0.00000000%) | ₹235.31 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KOTAKNIFTY.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 235.31 | 0.00000000 % | |
| R2 | 235.31 | 0.00000000 % | ||
| R1 | 235.31 | 0.00000000 % | ||
| Current price: | 235.31 | |||
| Support | S1 | 235.31 | 0.00000000 % | |
| S2 | 235.31 | 0.00000000 % | ||
| S3 | 235.31 | 0.00000000 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 238.92 | 1.53 % | |
| R2 | 237.50 | 0.93 % | ||
| R1 | 237.12 | 0.769 % | ||
| Current price | 235.31 | |||
| Support | S1 | 235.18 | -0.0553% | |
| S2 | 233.98 | -0.565% | ||
| S3 | 232.70 | -1.11% |
FAQ
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