Mirae Asset Mutual Fund Trust Forecast

Mirae Asset Mutual Fund trust upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Jun 28, 2024)

MAKEINDIA.BO Signals & Forecast

The Mirae Asset 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 ₹147.51 and ₹141.66. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -0.544%. Further fall is indicated until a new bottom pivot has been found. 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 Mirae Asset Mutual Fund trust

Mirae Asset Mutual Fund finds support from accumulated volume at ₹142.66 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This trust has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the trust moved ₹1.05 between high and low, or 0.712%. For the last week the trust has had daily average volatility of 1.19%.

Our recommended stop-loss: ₹143.55 (-3.09%) (This trust has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 17 days ago.)

Trading Expectations (MAKEINDIA.BO) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Mirae Asset Mutual Fund to open at ₹148.06, and during the day (based on 14 day Average True Range), to move between ₹145.64 and ₹150.62, which gives a possible trading interval of +/-₹2.49 (+/-1.68%) up or down from last closing price. If Mirae Asset Mutual Fund takes out the full calculated possible swing range there will be an estimated 3.36% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹148.54 (0.28%) than the support at ₹142.66 (3.69%), 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 Mirae Asset Mutual Fund trust 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 Mirae Asset Mutual Fund trust to perform well in the short-term. We have upgraded our analysis conclusion for this trust since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.395 Buy Candidate Upgraded

Predicted Opening Price for Mirae Asset Mutual Fund of Monday, July 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.