Icici Prudential Nifty 200 Quality 30 ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Wednesday for Icici Prudential Nifty 200 Quality 30
(Updated on Jun 26, 2024)
The Icici Prudential Nifty 200 Quality 30 ETF price gained 0.386% on the last trading day (Wednesday, 26th Jun 2024), rising from ₹20.73 to ₹20.81. During the last trading day the ETF fluctuated 0.531% from a day low at ₹20.73 to a day high of ₹20.84. The price has been going up and down for this period, and there has been a 0.43% gain for the last 2 weeks. Volume fell on the last day by -6 thousand shares and in total, 870 shares were bought and sold for approximately ₹18.10 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 ETF 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 ETF is expected to rise 12.78% during the next 3 months and, with a 90% probability hold a price between ₹22.45 and ₹23.85 at the end of this 3-month period.
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QUAL30IETF.BO Signals & Forecast
The Icici Prudential Nifty 200 Quality 30 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 ₹20.80 and ₹19.99. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -0.287%. Further fall is indicated until a new bottom pivot has been found. 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. The ETF had a Golden Star Signal on Monday, April 29, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star
The ETF had a Golden Star Signal on Monday, April 29, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Support, Risk & Stop-loss for Icici Prudential Nifty 200 Quality 30 ETF
Icici Prudential Nifty 200 Quality 30 finds support from accumulated volume at ₹19.98 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF 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 ETF. During the last day, the ETF moved ₹0.110 between high and low, or 0.531%. For the last week the ETF has had daily average volatility of 1.62%.
Our recommended stop-loss: ₹20.18 (-3.01%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (QUAL30IETF.BO) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Icici Prudential Nifty 200 Quality 30 Etf to open at ₹20.79, and during the day (based on 14 day Average True Range), to move between ₹20.39 and ₹21.23, which gives a possible trading interval of +/-₹0.418 (+/-2.01%) up or down from last closing price. If Icici Prudential Nifty 200 Quality 30 Etf takes out the full calculated possible swing range there will be an estimated 4.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹20.83 (0.10%) than the support at ₹19.98 (3.99%), 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 200 Quality 30 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 200 Quality 30 ETF to perform well in the short-term.
Current score: 2.115 Buy Candidate Unchanged
Predicted Opening Price for Icici Prudential Nifty 200 Quality 30 Etf of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₹20.79 ( 0.0801%) | ₹20.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QUAL30IETF.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.90 | 0.449% |
| R2 | 20.86 | 0.247% |
| R1 | 20.84 | 0.122% |
| Price | 20.81 | |
| S1 | 20.75 | -0.282% |
| S2 | 20.73 | -0.407% |
| S3 | 20.68 | -0.609% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.87 | 0.288% |
| R2 | 20.84 | 0.144% |
| R1 | 20.83 | 0.0961% |
| Price | 20.81 | |
| S1 | 19.98 | -3.99% |
| S2 | 19.97 | -4.04% |
| S3 | 19.25 | -7.50% |
FAQ
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