iShares S&P India Nifty 50 Index Fund ETF Forecast
Stronger technical forecast for iShares S&P India Nifty 50 Index Fund ETF price after Monday trading.
(Updated on Apr 22, 2024)
The iShares S&P India Nifty 50 Index Fund ETF price gained 1.10% on the last trading day (Monday, 22nd Apr 2024), rising from $49.89 to $50.44. During the last trading day the ETF fluctuated 0.695% from a day low at $50.09 to a day high of $50.44. The price has fallen in 8 of the last 10 days and is down by -1.47% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 44 thousand more shares were traded than the day before. In total, 73 thousand shares were bought and sold for approximately $3.68 million.
The ETF is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect iShares S&P India Nifty 50 Index Fund ETF with a 90% probability to be traded between $50.29 and $52.63 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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INDY Signals & Forecast
The iShares S&P India Nifty 50 Index Fund ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF 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 $49.82 and $50.32. 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 2.02%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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).
A buy signal from a double bottom formation was found on Thursday, April 18, 2024 and based on theory for this formation the price should go up by 3.52% to $52.22 within 21 trading days since signal was issued (Tuesday, April 23, 2024).
Support, Risk & Stop-loss for iShares S&P India Nifty 50 Index Fund ETF
iShares S&P India Nifty 50 Index Fund finds support from accumulated volume at $50.23 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.348 between high and low, or 0.695%. For the last week the ETF has had daily average volatility of 0.506%.
Our recommended stop-loss: $47.81 (-5.21%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (INDY) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect iShares S&P India Nifty 50 Index Fund to open at $50.32, and during the day (based on 14 day Average True Range), to move between $50.04 and $50.84, which gives a possible trading interval of +/-$0.398 (+/-0.79%) up or down from last closing price. If iShares S&P India Nifty 50 Index Fund takes out the full calculated possible swing range there will be an estimated 1.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $50.23 (0.42%) than the resistance at $50.69 (0.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is iShares S&P India Nifty 50 Index Fund ETF A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for iShares S&P India Nifty 50 Index Fund ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.252 Buy Candidate Upgraded
Predicted Opening Price for iShares S&P India Nifty 50 Index Fund of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $50.32 ( 0.230%) | $50.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INDY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.67 | 0.460 % | |
| R2 | 50.54 | 0.196 % | ||
| R1 | 50.46 | 0.0336 % | ||
| Current price: | 50.44 | |||
| Support | S1 | 50.19 | -0.494 % | |
| S2 | 50.11 | -0.656 % | ||
| S3 | 49.98 | -0.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 51.35 | 1.80 % | |
| R2 | 50.97 | 1.05 % | ||
| R1 | 50.69 | 0.496 % | ||
| Current price | 50.44 | |||
| Support | S1 | 50.23 | -0.416% | |
| S2 | 49.88 | -1.11% | ||
| S3 | 49.85 | -1.17% |
INDY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 20, 2023 | Dec 20, 2023 | Dec 27, 2023 | $0.116 | 0.235% |
| 2 | Jun 06, 2023 | Jun 07, 2023 | Jun 13, 2023 | $0.0740 | 0.169% |
| 3 | Dec 12, 2022 | Dec 13, 2022 | Dec 19, 2022 | $1.59 | 3.68% |
| 4 | Dec 10, 2021 | Dec 13, 2021 | Dec 17, 2021 | $3.36 | 7.37% |
| 5 | Jun 09, 2021 | Jun 10, 2021 | Jun 16, 2021 | $0.0070 | 0.0150% |
FAQ
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