Motilal Oswal Mutual Fund Trust Forecast
Motilal Oswal Mutual Fund trust price up 0.92% on Friday
(Updated on Jun 28, 2024)
The Motilal Oswal Mutual Fund trust price gained 0.92% on the last trading day (Friday, 28th Jun 2024), rising from ₹36.80 to ₹37.14. During the last trading day the trust fluctuated 1.65% from a day low at ₹36.93 to a day high of ₹37.54. The price has risen in 7 of the last 10 days and is up by 0.16% over the past 2 weeks. Volume fell on the last day by -14 thousand shares and in total, 1 thousand shares were bought and sold for approximately ₹55.30 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 trust lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the trust is expected to rise 4.83% during the next 3 months and, with a 90% probability hold a price between ₹37.39 and ₹39.71 at the end of this 3-month period.
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MOHEALTH.BO Signals & Forecast
The Motilal Oswal 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 ₹37.02 and ₹36.21. 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 -1.33%. 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 Motilal Oswal Mutual Fund trust
Motilal Oswal Mutual Fund finds support from accumulated volume at ₹37.08 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the trust tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the trust. During the last day, the trust moved ₹0.610 between high and low, or 1.65%. For the last week the trust has had daily average volatility of 1.58%.
Our recommended stop-loss: ₹35.92 (-3.29%) (This trust has low daily movements and this gives low risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (MOHEALTH.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Motilal Oswal Mutual Fund to open at ₹37.20, and during the day (based on 14 day Average True Range), to move between ₹36.41 and ₹37.87, which gives a possible trading interval of +/-₹0.730 (+/-1.97%) up or down from last closing price. If Motilal Oswal Mutual Fund takes out the full calculated possible swing range there will be an estimated 3.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹37.16 (0.05%) than the support at ₹37.08 (0.16%), 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 Motilal Oswal 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 Motilal Oswal Mutual Fund trust to perform well in the short-term.
Current score: 1.836 Buy Candidate Unchanged
Predicted Opening Price for Motilal Oswal Mutual Fund of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹37.20 ( 0.171%) | ₹37.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MOHEALTH.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 37.81 | 1.81% |
| R2 | 37.58 | 1.19% |
| R1 | 37.44 | 0.798% |
| Price | 37.14 | |
| S1 | 36.97 | -0.457% |
| S2 | 36.83 | -0.84% |
| S3 | 36.59 | -1.47% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 37.64 | 1.35% |
| R2 | 37.37 | 0.619% |
| R1 | 37.16 | 0.0539% |
| Price | 37.14 | |
| S1 | 37.08 | -0.162% |
| S2 | 36.80 | -0.92% |
| S3 | 35.53 | -4.33% |
FAQ
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