Mirae Asset Mutual Fund Trust Forecast

Mirae Asset Mutual Fund trust downgraded from Strong Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)

SENSEXETF.BO Signals & Forecast

The Mirae Asset 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 ₹78.58 and ₹76.19. A breakdown below any of these levels will issue sell signals. 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 Thursday, June 27, 2024, and so far it has fallen -0.200%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this trust may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Mirae Asset Mutual Fund trust

Mirae Asset Mutual Fund finds support from accumulated volume at ₹76.96 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the trust tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the trust During the last day, the trust moved ₹0.85 between high and low, or 1.07%. For the last week the trust has had daily average volatility of 1.02%

Our recommended stop-loss: ₹76.84 (-3.68%) (This trust has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)

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

For the upcoming trading day on Monday, 1st we expect Mirae Asset Mutual Fund to open at ₹79.90, and during the day (based on 14 day Average True Range), to move between ₹78.52 and ₹81.04, which gives a possible trading interval of +/-₹1.26 (+/-1.58%) up or down from last closing price. If Mirae Asset Mutual Fund takes out the full calculated possible swing range there will be an estimated 3.16% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹79.94 (0.20%) than the support at ₹76.96 (3.53%), 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 Mirae Asset Mutual Fund trust A Buy?

Mirae Asset Mutual Fund holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this trust since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.

Current score: 0.352 Hold/Accumulate Downgraded

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

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