UTI Mutual Fund ETF Forecast
UTI Mutual Fund ETF price ended at ₹87.20 on Wednesday, after gaining 0.195%.
(Updated on Jul 03, 2024)
The UTI Mutual Fund ETF price gained 0.195% on the last trading day (Wednesday, 3rd Jul 2024), rising from ₹87.03 to ₹87.20. During the last trading day the ETF fluctuated 0.97% from a day low at ₹86.91 to a day high of ₹87.75. The price has risen in 7 of the last 10 days and is up by 1.38% over the past 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 331 shares were bought and sold for approximately ₹28.86 thousand. 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 ETF 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 ₹87.58 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 14.53% during the next 3 months and, with a 90% probability hold a price between ₹94.32 and ₹100.31 at the end of this 3-month period.
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UTISXN50.BO Signals & Forecast
There are mixed signals in the ETF today. A sell signal was issued from a pivot top point on Monday, July 01, 2024, and so far it has fallen -0.0115%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The UTI Mutual Fund ETF 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 ₹86.93 and ₹83.42. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for UTI Mutual Fund ETF
UTI Mutual Fund finds support from accumulated volume at ₹83.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved ₹0.84 between high and low, or 0.97%. For the last week the ETF has had daily average volatility of 1.74%.
Our recommended stop-loss: ₹84.64 (-2.94%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (UTISXN50.BO) For The Upcoming Trading Day Of Thursday 4th
For the upcoming trading day on Thursday, 4th we expect UTI Mutual Fund to open at ₹87.29, and during the day (based on 14 day Average True Range), to move between ₹85.20 and ₹89.20, which gives a possible trading interval of +/-₹2.00 (+/-2.29%) up or down from last closing price. If UTI Mutual Fund takes out the full calculated possible swing range there will be an estimated 4.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹87.21 (0.01%) than the support at ₹83.05 (4.76%), 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 Mutual Fund ETF 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 Mutual Fund ETF to perform well in the short-term.
Current score: 2.151 Buy Candidate Unchanged
Predicted Opening Price for UTI Mutual Fund of Thursday, July 4, 2024
| Fair opening price July 4, 2024 | Current price |
|---|---|
| ₹87.29 ( 0.0994%) | ₹87.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UTISXN50.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 88.13 | 1.06% |
| R2 | 87.81 | 0.695% |
| R1 | 87.61 | 0.467% |
| Price | 87.20 | |
| S1 | 86.97 | -0.269% |
| S2 | 86.77 | -0.496% |
| S3 | 86.45 | -0.86% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 87.21 | 0.0115% |
| Price | 87.20 | |
| S1 | 83.05 | -4.76% |
| S2 | 79.06 | -9.33% |
| S3 | 78.65 | -9.81% |
FAQ
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