There is no Open, High, Low, Close values for mutual fund NAV and so you cannot have candle sticks but still can apply the price action chart patterns on mutual fund NAV for technical analysis.
Suresh Sinha asked a very interesting question in DIY Technical Analysis forum about applying technical analysis on mutual funds.
I was thinking of applying technical analysis to mutual funds but I am not able to find way to apply them to mutual funds and so can someone point me how can I apply technical analysis on mutual funds?
The answer to the above question is – There isn’t any website that can help you apply technical analysis on Indian mutual funds. Yahoo Finance has mutual fund NAV’s listed but they don’t provide any kind of charts for them. See DSP BlackRock Small and Midcap Growth or DSP BlackRock Small and Midcap Dividend
One of the reason that I could think off for no chars is because technical analysis rules work well on candle sticks and for mutual funds NAV does not have high, low and close for the day and so you cannot draw candle sticks for NAV. You only have one price for the day. Apart from that technical analysis may not work that well on mutual fund’s NAV because they are not auctioned directly in market.
Despite the issues, it does not mean you cannot apply Price action Technical Analysis on mutual fund NAV’s. We will see how with a small trick how you can hack into AMFIIndia site to find historical NAV for funds for an elongated time and then apply technical analysis on them using Excel charts.
AMFIIndia links referred in video – http://www.amfiindia.com/NavHistoryReport_Frm.aspx
Sound off in comments below.
sorry for this late reply but i am planning on investing in mutual funds and i want to know is there any good free technical analysis software available for mutual funds. If yes how we proceed? Where to get nav details? Do you have any tutorial for that. Thank you for your help
Hi Shabbir,
2 year, 3yr, 5 yr charts are available for each fund in Moneycontrol.com.
Is there any difference between that chart and the chart generated in the above method?
Thanks,
No Alwyn, there is no difference and we can use the charts of MC
Really very useful information about “Technical Analysis of Indian Mutual Funds”. Thanks for sharing.
Thanks
The pleasure is all mine. 😀
Hi Shabbir
Can you tell me if technical analysis can be applied to sector specific mutual funds.
Thanks 🙂
Yes you can Sanju and I always prefer investing based on Technicals only. Be it mutual funds or anything else.