Motilal Oswal Mutual Fund Trust Forecast
Motilal Oswal Mutual Fund trust upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The Motilal Oswal Mutual Fund trust price gained 1.13% on the last trading day (Friday, 28th Jun 2024), rising from ₹103.25 to ₹104.42. During the last trading day the trust fluctuated 1.41% from a day low at ₹103.19 to a day high of ₹104.65. The price has been going up and down for this period, and there has been a 1.25% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 43 thousand more shares were traded than the day before. In total, 45 thousand shares were bought and sold for approximately ₹4.70 million.
The trust 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 trust is expected to rise 10.60% during the next 3 months and, with a 90% probability hold a price between ₹110.92 and ₹121.96 at the end of this 3-month period.
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MOVALUE.BO Signals & Forecast
Mostly positive signals in the chart today. 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 ₹103.75 and ₹102.03. 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 7.13%. 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.
Support, Risk & Stop-loss for Motilal Oswal Mutual Fund trust
Motilal Oswal Mutual Fund finds support from accumulated volume at ₹103.17 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This trust is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the trust moved ₹1.46 (1.41%) between high and low. For the last week, the trust has had daily average volatility of 2.02%.
Our recommended stop-loss: ₹98.83 (-5.35%) (This trust has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (MOVALUE.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 ₹104.09, and during the day (based on 14 day Average True Range), to move between ₹101.80 and ₹107.04, which gives a possible trading interval of +/-₹2.62 (+/-2.51%) 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 5.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹104.50 (0.08%) than the support at ₹103.17 (1.20%), 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?
Motilal Oswal Mutual Fund holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this trust since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.381 Strong Buy Candidate Upgraded
Predicted Opening Price for Motilal Oswal Mutual Fund of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹104.09 ( 0.319%) | ₹104.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MOVALUE.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 105.55 | 1.08% |
| R2 | 104.99 | 0.545% |
| R1 | 104.64 | 0.215% |
| Price | 104.42 | |
| S1 | 103.53 | -0.85% |
| S2 | 103.18 | -1.18% |
| S3 | 102.63 | -1.72% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 107.10 | 2.57% |
| R1 | 104.50 | 0.0766% |
| Price | 104.42 | |
| S1 | 103.17 | -1.20% |
| S2 | 100.47 | -3.78% |
| S3 | 97.47 | -6.66% |
FAQ
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