Motilal Oswal Mutual Fund Trust Forecast
Motilal Oswal Mutual Fund trust downgraded from Strong Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
The Motilal Oswal Mutual Fund trust price gained 0.85% on the last trading day (Friday, 28th Jun 2024), rising from ₹37.44 to ₹37.76. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the trust fluctuated 1.69% from a day low at ₹37.21 to a day high of ₹37.84. The price has risen in 7 of the last 10 days and is up by 2% over the past 2 weeks. Volume fell on the last day by -1 thousand shares and in total, 3 thousand shares were bought and sold for approximately ₹96.36 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 has broken the narrow and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ₹37.03, a level that may pose a second chance to hit a runner. According to fan-theory ₹38.30 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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MOLOWVOL.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 ₹37.17 and ₹36.20. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 7.79%. Further rise is indicated until a new top pivot has been found. 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. 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 ₹37.17 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 ₹0.630 between high and low, or 1.69%. For the last week the trust has had daily average volatility of 1.26%.
Our recommended stop-loss: ₹36.04 (-4.55%) (This trust has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (MOLOWVOL.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 ₹37.60, and during the day (based on 14 day Average True Range), to move between ₹37.20 and ₹38.32, which gives a possible trading interval of +/-₹0.560 (+/-1.48%) 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 2.97% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹37.17, some ₹0.590 (1.56%) from the current price of ₹37.76, our system finds the risk reward attractive.
Is Motilal Oswal Mutual Fund trust A Buy?
Motilal Oswal Mutual Fund holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this trust since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Motilal Oswal Mutual Fund of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹37.60 ( 0.415%) | ₹37.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MOLOWVOL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 38.23 | 1.25% |
| R2 | 37.99 | 0.616% |
| R1 | 37.84 | 0.222% |
| Price | 37.76 | |
| S1 | 37.36 | -1.05% |
| S2 | 37.21 | -1.45% |
| S3 | 36.97 | -2.08% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 37.76 | |
| S1 | 37.17 | -1.56% |
| S2 | 36.13 | -4.32% |
| S3 | 35.63 | -5.64% |
FAQ
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