Motilal Oswal Nifty Midcap 100 Etf ETF Forecast
Stronger technical forecast for Motilal Oswal Nifty Midcap 100 Etf ETF price after Friday trading.
(Updated on Jun 28, 2024)
The Motilal Oswal Nifty Midcap 100 Etf ETF price gained 0.557% on the last trading day (Friday, 28th Jun 2024), rising from ₹59.25 to ₹59.58. During the last trading day the ETF fluctuated 1.32% from a day low at ₹59.07 to a day high of ₹59.85. The price has risen in 7 of the last 10 days and is up by 2.07% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 64 thousand more shares were traded than the day before. In total, 251 thousand shares were bought and sold for approximately ₹14.94 million.
The ETF lies in the middle of a narrow and weak 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 8.79% during the next 3 months and, with a 90% probability hold a price between ₹63.02 and ₹65.93 at the end of this 3-month period.
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MOM100.NS Signals & Forecast
Mostly positive signals in the chart today. The Motilal Oswal Nifty Midcap 100 Etf ETF 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 ₹59.31 and ₹57.48. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 05, 2024, and so far it has risen 8.98%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
A buy signal from a double bottom formation was found on Wednesday, June 05, 2024 with a target of ₹59.42. Despite whether the objective of the signal formation has been reached the ETF may continue to perform well.
Support, Risk & Stop-loss for Motilal Oswal Nifty Midcap 100 Etf ETF
Motilal Oswal Nifty Midcap 100 Etf finds support from accumulated volume at ₹57.92 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved ₹0.780 between high and low, or 1.32%. For the last week, the ETF has had daily average volatility of 1.79%.
Our recommended stop-loss: ₹56.90 (-4.50%) (This ETF has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (MOM100.NS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Motilal Oswal Nifty Midcap 100 Etf to open at ₹59.50, and during the day (based on 14 day Average True Range), to move between ₹57.99 and ₹61.17, which gives a possible trading interval of +/-₹1.59 (+/-2.66%) up or down from last closing price. If Motilal Oswal Nifty Midcap 100 Etf takes out the full calculated possible swing range there will be an estimated 5.33% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹57.92, some ₹1.66 (2.79%) from the current price of ₹59.58, our system finds the risk reward attractive.
Is Motilal Oswal Nifty Midcap 100 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 Motilal Oswal Nifty Midcap 100 Etf ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.771 Buy Candidate Upgraded
Predicted Opening Price for Motilal Oswal Nifty Midcap 100 Etf of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹59.50 ( 0.134%) | ₹59.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MOM100.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 60.28 | 1.17% |
| R2 | 59.98 | 0.675% |
| R1 | 59.80 | 0.366% |
| Price | 59.58 | |
| S1 | 59.20 | -0.634% |
| S2 | 59.02 | -0.94% |
| S3 | 58.72 | -1.44% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 59.58 | |
| S1 | 57.92 | -2.79% |
| S2 | 56.18 | -5.71% |
| S3 | 54.67 | -8.24% |
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