UTI MF SENSEX ETF/ETF Stock Forecast

UTI MF SENSEX ETF/ETF stock price ended at ₹795.41 on Wednesday, after gaining 0.0465%.
(Updated on Apr 24, 2024)

UTISENSETF.NS Signals & Forecast

The UTI MF SENSEX ETF/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 ₹791.33 and ₹792.40. 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 1.73%. Further rise is indicated until a new top pivot has been found. 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). 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 also not. The stock had a Golden Star Signal on Wednesday, February 14, 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 UTI MF SENSEX ETF/ETF stock

UTI MF SENSEX ETF/ETF finds support from accumulated volume at ₹793.44 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 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 stock During the last day, the stock moved ₹9.11 between high and low, or 1.15%. For the last week the stock has had daily average volatility of 2.33%

Our recommended stop-loss: ₹756.08 (-4.95%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)

Trading Expectations (UTISENSETF.NS) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect UTI MF SENSEX ETF/ETF to open at ₹794.84, and during the day (based on 14 day Average True Range), to move between ₹779.01 and ₹811.81, which gives a possible trading interval of +/-₹16.40 (+/-2.06%) up or down from last closing price. If UTI MF SENSEX ETF/ETF takes out the full calculated possible swing range there will be an estimated 4.12% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹796.95 (0.19%) than the support at ₹793.44 (0.25%), 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 UTI MF SENSEX ETF/ETF stock 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 UTI MF SENSEX ETF/ETF stock to perform well in the short-term.

Current score: 1.105 Buy Candidate Unchanged

Predicted Opening Price for UTI MF SENSEX ETF/ETF of Thursday, April 25, 2024

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