SBI MF ETF NIFTY 50/ETF Stock Forecast

SBI MF ETF NIFTY 50/ETF stock price ended at ₹236.21 on Thursday, after gaining 0.703%.
(Updated on Apr 25, 2024)

SETFNIF50.NS Signals & Forecast

The SBI MF ETF NIFTY 50/ETF stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹233.36 and ₹233.37. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 2.42%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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). 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 MF ETF NIFTY 50/ETF stock

SBI MF ETF NIFTY 50/ETF finds support from accumulated volume at ₹233.55 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 ₹3.58 between high and low, or 1.54%. For the last week the stock has had daily average volatility of 1.05%.

Our recommended stop-loss: ₹225.03 (-4.73%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)

Trading Expectations (SETFNIF50.NS) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect SBI MF ETF NIFTY 50/ETF to open at ₹235.40, and during the day (based on 14 day Average True Range), to move between ₹233.07 and ₹239.35, which gives a possible trading interval of +/-₹3.14 (+/-1.33%) up or down from last closing price. If SBI MF ETF NIFTY 50/ETF takes out the full calculated possible swing range there will be an estimated 2.66% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹236.93 (0.30%) than the support at ₹233.55 (1.13%), 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 SBI MF ETF NIFTY 50/ETF stock A Buy?

SBI MF ETF NIFTY 50/ETF 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.

Current score: 0.500 Hold/Accumulate Unchanged

Predicted Opening Price for SBI MF ETF NIFTY 50/ETF of Friday, April 26, 2024

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