Gabriel India Limited (GABRIEL) Stock - Complete Technical Analysis - Dec 19, 2024

GABRIEL Stock: Pullback - Buy the Dip

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

Gabriel India's current price of approximately 506 reflects a recent pullback from higher levels. The RSI, currently above 60, suggests remaining bullish momentum, but it is showing signs of weakening. The high Stochastic %K indicates short-term overbought conditions, increasing the likelihood of a pullback. The MACD remains positive, confirming the ongoing uptrend. The ADX, around 33, indicates a developing trend. From a trading perspective, immediate support can be found around the 10-day EMA near 500 and the 20-day EMA near 482. Resistance is near the recent high around 526. A break below the support levels could signal a deeper correction. Although the MACD is still positive, the weakening momentum and overbought conditions suggest caution. Traders may consider waiting for a pullback towards the identified support levels before initiating new long positions. The recent ATR has been volatile indicating higher risk.