LIC MF ETF Sensex 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
LIC MF ETF Sensex stock price ended at ₹879.89 on Friday, after gaining 2.91%.
(Updated on Jun 28, 2024)
The LIC MF ETF Sensex stock price gained 2.91% on the last trading day (Friday, 28th Jun 2024), rising from ₹855.00 to ₹879.89. During the last trading day the stock fluctuated 1.99% from a day low at ₹862.76 to a day high of ₹879.89. The price has been going up and down for this period, and there has been a 4.01% gain for the last 2 weeks. Volume fell on the last day by -10 shares and in total, 10 shares were bought and sold for approximately ₹8.80 thousand. 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 stock has broken the weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ₹877.75, a level that may pose a second chance to hit a runner. According to fan-theory ₹931.69 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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LICNETFSEN.BO Signals & Forecast
The LIC MF ETF Sensex 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 ₹855.78 and ₹832.77. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 7.57%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for LIC MF ETF Sensex stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹830.70 and ₹825.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, LIC MF ETF Sensex finds support just below today's level at ₹830.70. If this is broken, then the next support from accumulated volume will be at ₹825.00 and ₹811.67.
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 ₹17.13 between high and low, or 1.99%. For the last week the stock has had daily average volatility of 1.47%
The LIC MF ETF Sensex stock is extremely overbought on RSI14 (91). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: ₹838.71 (-4.68%) (This stock has low daily movements and this gives low risk. The RSI14 is 91 and this increases the risk substantially. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (LICNETFSEN.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect LIC MF ETF Sensex to open at ₹874.18, and during the day (based on 14 day Average True Range), to move between ₹865.18 and ₹894.60, which gives a possible trading interval of +/-₹14.71 (+/-1.67%) up or down from last closing price. If LIC MF ETF Sensex takes out the full calculated possible swing range there will be an estimated 3.34% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹830.70, some ₹49.19 (5.59%) from the current price of ₹879.89, our system finds the risk reward attractive.
Is LIC MF ETF Sensex stock A Buy?
Several short-term signals, along with a general good trend, are positive and the stock has broken the rising trend up, which indicates an even stronger rate of rising. We can conclude that the current level may hold a buying opportunity as there is a fair chance for LIC MF ETF Sensex stock to perform well in the short-term period. Due to a possible false trend-break listing stock as pure buy candidate is held back.
Current score: 4.764 Buy Candidate Unchanged
Predicted Opening Price for LIC MF ETF Sensex of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹874.18 ( 0.649%) | ₹879.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LICNETFSEN.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 891.31 | 1.30% |
| R2 | 884.77 | 0.554% |
| R1 | 880.72 | 0.0947% |
| Price | 879.89 | |
| S1 | 867.64 | -1.39% |
| S2 | 863.59 | -1.85% |
| S3 | 857.05 | -2.60% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 879.89 | |
| S1 | 830.70 | -5.59% |
| S2 | 825.00 | -6.24% |
| S3 | 811.67 | -7.75% |
FAQ
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