Mindspace Business P Reit Trust Forecast
Mindspace Business P Reit trust downgraded to Strong Sell Candidate
(Updated on Jun 25, 2024)
The Mindspace Business P Reit trust price fell by -0.501% on the last day (Tuesday, 25th Jun 2024) from ₹335.55 to ₹333.87. During the last trading day the trust fluctuated 1.81% from a day low at ₹330.80 to a day high of ₹336.80. The price has been going up and down for this period, and there has been a -0.34% loss for the last 2 weeks. Volume has increased on the last day by 145 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 247 thousand shares were bought and sold for approximately ₹82.55 million.
The trust lies in the middle of a narrow and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the trust is expected to fall -3.46% during the next 3 months and, with a 90% probability hold a price between ₹316.68 and ₹326.43 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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MINDSPACE-RR.NS Signals & Forecast
There are few to no technical positive signals at the moment. The Mindspace Business P Reit trust 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 ₹337.69 and ₹341.75. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 30, 2024, and so far it has fallen -4.05%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the trust should be followed more closely.
Support, Risk & Stop-loss for Mindspace Business P Reit trust
There is no support from accumulated volume below today's level and given the right condition the trust may perform very badly in the next couple of days.
In general the trust tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the trust moved ₹6.00 between high and low, or 1.81%. For the last week the trust has had daily average volatility of 1.83%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MINDSPACE-RR.NS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Mindspace Business P Reit to open at ₹333.82, and during the day (based on 14 day Average True Range), to move between ₹326.94 and ₹340.80, which gives a possible trading interval of +/-₹6.93 (+/-2.08%) up or down from last closing price. If Mindspace Business P Reit takes out the full calculated possible swing range there will be an estimated 4.15% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ₹335.00, some ₹1.13 (0.34%) from the current price of ₹333.87, our system finds the risk reward not very attractive.
Is Mindspace Business P Reit trust A Buy?
Mindspace Business P Reit holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this trust. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this trust since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.212 Strong Sell Candidate Downgraded
Predicted Opening Price for Mindspace Business P Reit of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
₹333.82 ( 0.0140%) | ₹333.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MINDSPACE-RR.NS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 339.82 | 1.78% |
R2 | 337.53 | 1.10% |
R1 | 336.12 | 0.673% |
Price | 333.87 | |
S1 | 331.53 | -0.700% |
S2 | 330.12 | -1.12% |
S3 | 327.82 | -1.81% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 339.03 | 1.55% |
R2 | 338.40 | 1.36% |
R1 | 335.00 | 0.338% |
Price | 333.87 | |
S1 | 0 | - |
S2 | 0 | - |
S3 | 0 | - |
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