Icici Prudential Nifty Midcap 150 Etf ETF Forecast
Red day on Tuesday for Icici Prudential Nifty Midcap 150 Etf
(Updated on Jun 25, 2024)
The Icici Prudential Nifty Midcap 150 Etf ETF price fell by -0.141% on the last day (Tuesday, 25th Jun 2024) from ₹21.28 to ₹21.25. During the last trading day the ETF fluctuated 1.89% from a day low at ₹21.19 to a day high of ₹21.59. The price has risen in 6 of the last 10 days and is up by 3.86% over the past 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -29 thousand shares and in total, 11 thousand shares were bought and sold for approximately ₹235.28 thousand.
The ETF lies in the middle of a strong 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 14.71% during the next 3 months and, with a 90% probability hold a price between ₹23.08 and ₹24.81 at the end of this 3-month period.
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MIDCAPIETF.BO Signals & Forecast
The Icici Prudential Nifty Midcap 150 Etf 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 ₹21.26. On a fall, the ETF will find some support from the long-term average at approximately ₹20.08. 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. 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 -0.701%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Icici Prudential Nifty Midcap 150 Etf ETF
On the downside, the ETF finds support just below today's level from accumulated volume at ₹19.71 and ₹18.73. 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, Icici Prudential Nifty Midcap 150 Etf finds support just below today's level at ₹19.71. If this is broken, then the next support from accumulated volume will be at ₹18.73 and ₹18.10.
This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved ₹0.400 between high and low, or 1.89%. For the last week the ETF has had daily average volatility of 1.97%.
Our recommended stop-loss: ₹20.53 (-3.40%) (This ETF has medium daily movements and this gives medium risk. The RSI14 is 84 and this increases the risk substantially. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (MIDCAPIETF.BO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Icici Prudential Nifty Midcap 150 Etf to open at ₹21.34, and during the day (based on 14 day Average True Range), to move between ₹20.76 and ₹21.74, which gives a possible trading interval of +/-₹0.490 (+/-2.31%) up or down from last closing price. If Icici Prudential Nifty Midcap 150 Etf takes out the full calculated possible swing range there will be an estimated 4.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹21.28 (0.14%) than the support at ₹19.71 (7.25%), 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 Icici Prudential Nifty Midcap 150 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 Icici Prudential Nifty Midcap 150 Etf ETF to perform well in the short-term.
Current score: 3.911 Buy Candidate Unchanged
Predicted Opening Price for Icici Prudential Nifty Midcap 150 Etf of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
₹21.34 ( 0.439%) | ₹21.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MIDCAPIETF.BO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 21.74 | 2.32% |
R2 | 21.59 | 1.60% |
R1 | 21.50 | 1.16% |
Price | 21.25 | |
S1 | 21.19 | -0.280% |
S2 | 21.10 | -0.724% |
S3 | 20.94 | -1.44% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 21.40 | 0.706% |
R2 | 21.35 | 0.471% |
R1 | 21.28 | 0.141% |
Price | 21.25 | |
S1 | 19.71 | -7.25% |
S2 | 18.73 | -11.86% |
S3 | 18.10 | -14.82% |
FAQ
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