Mirae Asset Mutual Fund ETF Forecast
Green day on Friday for Mirae Asset Mutual Fund ETF after gaining 0.208%
(Updated on Jun 28, 2024)
The Mirae Asset Mutual Fund ETF price gained 0.208% on the last trading day (Friday, 28th Jun 2024), rising from ₹43.35 to ₹43.44. During the last trading day the ETF fluctuated 1.32% from a day low at ₹43.26 to a day high of ₹43.83. The price has fallen in 6 of the last 10 days and is down by -0.98% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 3 thousand shares were bought and sold for approximately ₹111.47 thousand.
The ETF lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹42.78 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 2.27% during the next 3 months and, with a 90% probability hold a price between ₹43.75 and ₹48.52 at the end of this 3-month period.
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MASPTOP50.BO Signals & Forecast
The Mirae Asset Mutual Fund ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately ₹43.55. On a fall, the ETF will find some support from the long-term average at approximately ₹43.44. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Saturday, May 18, 2024, and so far it has risen 2.72%. Further rise is indicated until a new top pivot has been found. Mirae Asset Mutual Fund has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Mirae Asset Mutual Fund ETF
Mirae Asset Mutual Fund finds support from accumulated volume at ₹43.24 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ₹0.570 between high and low, or 1.32%. For the last week the ETF has had daily average volatility of 1.04%.
Our recommended stop-loss: ₹41.53 (-4.39%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 54 days ago.)
Trading Expectations (MASPTOP50.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 ₹43.51, and during the day (based on 14 day Average True Range), to move between ₹42.73 and ₹44.15, which gives a possible trading interval of +/-₹0.708 (+/-1.63%) 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 3.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹43.50 (0.14%) than the support at ₹43.24 (0.46%), 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 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 Mirae Asset Mutual Fund ETF to perform well in the short-term.
Current score: 2.678 Buy Candidate Unchanged
Predicted Opening Price for Mirae Asset Mutual Fund of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹43.51 ( 0.161%) | ₹43.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MASPTOP50.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 44.08 | 1.47% |
| R2 | 43.86 | 0.97% |
| R1 | 43.73 | 0.662% |
| Price | 43.44 | |
| S1 | 43.29 | -0.340% |
| S2 | 43.16 | -0.650% |
| S3 | 42.94 | -1.15% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 46.50 | 7.04% |
| R2 | 45.20 | 4.05% |
| R1 | 43.50 | 0.138% |
| Price | 43.44 | |
| S1 | 43.24 | -0.460% |
| S2 | 42.72 | -1.66% |
| S3 | 42.66 | -1.80% |
FAQ
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