SBI MF ETF NIFTY 50/ETF Stock Forecast
SBI MF ETF NIFTY 50/ETF stock price ended at ₹705.34 on Friday, after gaining 0.98%.
(Updated on May 17, 2024)
The SBI MF ETF NIFTY 50/ETF stock price gained 0.98% on the last trading day (Friday, 17th May 2024), rising from ₹698.48 to ₹705.34. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 1.29% from a day low at ₹699.00 to a day high of ₹708.00. The price has risen in 7 of the last 10 days and is up by 1.58% over the past 2 weeks. Volume fell on the last day by -4 thousand shares and in total, 28 thousand shares were bought and sold for approximately ₹19.51 million. 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 stock lies in the upper part of a strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ₹710.96 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 13.61% during the next 3 months and, with a 90% probability hold a price between ₹753.94 and ₹807.69 at the end of this 3-month period.
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SETFNN50.NS Signals & Forecast
Mostly positive signals in the chart today. 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. 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 ₹685.95 and ₹670.06. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 5.55%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
Support, Risk & Stop-loss for SBI MF ETF NIFTY 50/ETF stock
SBI MF ETF NIFTY 50/ETF finds support from accumulated volume at ₹690.58 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 ₹9.00 between high and low, or 1.29%. For the last week the stock has had daily average volatility of 1.85%.
Since the SBI MF ETF NIFTY 50/ETF has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: ₹679.47 (-3.67%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (SETFNN50.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect SBI MF ETF NIFTY 50/ETF to open at ₹704.11, and during the day (based on 14 day Average True Range), to move between ₹692.52 and ₹718.16, which gives a possible trading interval of +/-₹12.82 (+/-1.82%) 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 3.63% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹690.58, some ₹14.76 (2.09%) from the current price of ₹705.34, our system finds the risk reward attractive.
Is SBI MF ETF NIFTY 50/ETF stock A Buy?
SBI MF ETF NIFTY 50/ETF holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 7.070 Strong Buy Candidate Unchanged
Predicted Opening Price for SBI MF ETF NIFTY 50/ETF of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹704.11 ( 0.174%) | ₹705.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SETFNN50.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 713.11 | 1.10 % | |
| R2 | 709.68 | 0.615 % | ||
| R1 | 707.55 | 0.314 % | ||
| Current price: | 705.34 | |||
| Support | S1 | 700.68 | -0.661 % | |
| S2 | 698.55 | -0.96 % | ||
| S3 | 695.11 | -1.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 705.34 | |||
| Support | S1 | 690.58 | -2.09% | |
| S2 | 672.65 | -4.63% | ||
| S3 | 629.70 | -10.72% |
SETFNN50 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 07, 2017 | Nov 07, 2017 | Nov 07, 2017 | ₹7.00 | 3.56% |
FAQ
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