Icici Prudential Nifty Psu Bank Etf ETF Forecast

Icici Prudential Nifty Psu Bank Etf ETF price ended at ₹74.30 on Wednesday, after losing 0.134%.
(Updated on Jun 26, 2024)

PSUBNKIETF.BO Signals & Forecast

The Icici Prudential Nifty Psu Bank Etf ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately ₹74.90. On a fall, the ETF will find some support from the long-term average at approximately ₹73.65. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Wednesday, June 05, 2024, and so far it has risen 4.83%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Icici Prudential Nifty Psu Bank Etf gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Icici Prudential Nifty Psu Bank Etf ETF

Icici Prudential Nifty Psu Bank Etf finds support from accumulated volume at ₹72.87 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 ₹1.07 between high and low, or 1.45%. For the last week, the ETF has had daily average volatility of 1.79%.

Our recommended stop-loss: ₹71.24 (-4.11%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (PSUBNKIETF.BO) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Icici Prudential Nifty Psu Bank Etf to open at ₹74.34, and during the day (based on 14 day Average True Range), to move between ₹71.96 and ₹76.64, which gives a possible trading interval of +/-₹2.34 (+/-3.15%) up or down from last closing price. If Icici Prudential Nifty Psu Bank Etf takes out the full calculated possible swing range there will be an estimated 6.29% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹74.35 (0.07%) than the support at ₹72.87 (1.92%), 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 Icici Prudential Nifty Psu Bank 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 Icici Prudential Nifty Psu Bank Etf ETF to perform well in the short-term.

Current score: 4.626 Buy Candidate Unchanged

Predicted Opening Price for Icici Prudential Nifty Psu Bank Etf of Thursday, June 27, 2024

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