Uti Mutual Fund Trust Forecast

Green day on Friday for Uti Mutual Fund trust after gaining 0.542%
(Updated on Jun 28, 2024)

NIFMID150.BO Signals & Forecast

Mostly positive signals in the chart today. The Uti 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 ₹208.69 and ₹198.58. 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 9.62%. 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). Uti Mutual Fund has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Uti Mutual Fund trust

On the downside, the trust finds support just below today's level from accumulated volume at ₹196.05 and ₹194.49. There is a natural risk involved when a trust is testing a support level, since if this is broken, the trust then may fall to the next support level. In this case, Uti Mutual Fund finds support just below today's level at ₹196.05. If this is broken, then the next support from accumulated volume will be at ₹194.49 and ₹193.11.

This trust has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the trust moved ₹3.80 between high and low, or 1.84%. For the last week, the trust has had daily average volatility of 0.727%.

The Uti Mutual Fund trust is extremely overbought on RSI14 (85). This increases the short-term risk substantially.

Our recommended stop-loss: ₹199.35 (-4.92%) (This trust has medium daily movements and this gives medium risk. The RSI14 is 85 and this increases the risk substantially. There is a buy signal from a pivot bottom found 18 days ago.)

Trading Expectations (NIFMID150.BO) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Uti Mutual Fund to open at ₹208.55, and during the day (based on 14 day Average True Range), to move between ₹205.92 and ₹213.38, which gives a possible trading interval of +/-₹3.73 (+/-1.78%) up or down from last closing price. If Uti Mutual Fund takes out the full calculated possible swing range there will be an estimated 3.56% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ₹196.05, some ₹13.60 (6.49%) from the current price of ₹209.65, our system finds the risk reward attractive.

Is Uti 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 Uti Mutual Fund trust to perform well in the short-term.

Current score: 4.485 Buy Candidate Unchanged

Predicted Opening Price for Uti Mutual Fund of Monday, July 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.