SBI ETF BSE 100 ETF Stock Forecast

SBI ETF BSE 100 ETF stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on May 09, 2024)

SETFBSE100.BO Signals & Forecast

There are few to no technical positive signals at the moment. The SBI ETF BSE 100 ETF stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹255.23 and ₹252.66. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -3.06%. 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). SBI ETF BSE 100 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". The stock had a Golden Star Signal on Friday, March 22, 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 stock in question.

Support, Risk & Stop-loss for SBI ETF BSE 100 ETF stock

SBI ETF BSE 100 ETF finds support from accumulated volume at ₹250.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹8.93 between high and low, or 3.57%. For the last week the stock has had daily average volatility of 1.96%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (SETFBSE100.BO) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect SBI ETF BSE 100 ETF to open at ₹253.35, and during the day (based on 14 day Average True Range), to move between ₹244.68 and ₹256.78, which gives a possible trading interval of +/-₹6.05 (+/-2.41%) up or down from last closing price. If SBI ETF BSE 100 ETF takes out the full calculated possible swing range there will be an estimated 4.83% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹250.00 (0.29%) than the resistance at ₹252.08 (0.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is SBI ETF BSE 100 ETF stock A Buy?

The SBI ETF BSE 100 ETF stock holds several negative signals and despite the positive trend, we believe SBI ETF BSE 100 ETF will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.056 Sell Candidate Downgraded

Predicted Opening Price for SBI ETF BSE 100 ETF of Friday, May 10, 2024

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