Man Industries (India) Limited (MANINDS) Stock - Complete Technical Analysis - Aug 30, 2024

Man Industries (India) Limited (MANINDS) Stock Analysis Key Support

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. Technical Analysis of Man Industries (India) Limited (MANINDS)

Currently trading at 416, Man Industries shows a mixed technical picture. The stock is trading significantly below its 52-week high of 513.7, reflecting a -19.06% decline, while it is 163.41% above its 52-week low of 157.85. This indicates a strong recovery from lower levels, but the current price is struggling to break past higher resistance levels.

Support and Resistance Levels:

Support Levels: Immediate support is at the Classic Pivot S1 of 411.23, with further support around the Camarilla Pivot S1 at 456.01 and the Fibonacci Pivot S1 at 422.09.

Resistance Levels: Key resistance levels are the Classic Pivot R1 at 516.93, the Fibonacci Pivot R1 at 502.84, and the Woodie Pivot R1 at 521.8.

Moving Averages:

Short-term moving averages, including the 10-day EMA and SMA, are at 429.72 and 435.52, respectively, indicating current price levels are below these averages.

Medium to long-term moving averages, such as the 50-day SMA at 443.52 and 200-day EMA at 367.25, are also above the current price, showing a bearish trend in the near term.

Technical Indicators:

MACD: Currently negative, suggesting bearish momentum.

RSI: At 40.07, it indicates that the stock is near oversold conditions.

ADX: At 12.78, the low ADX suggests a weak trend or consolidation phase.

Stochastic %K: Extremely low at 5.33, indicating the stock is deeply oversold.

Williams %R: At -95.56, reflecting extreme oversold conditions.

CCI and Ultimate Oscillator: Both indicate weak bullish momentum.

ATR: Shows moderate volatility with an average of 24.74, reflecting potential price swings.

Chart Patterns:

The stock is currently below several critical moving averages and pivot points, signaling bearish sentiment. The extreme oversold conditions in stochastic and Williams %R might suggest a potential rebound, but caution is advised due to the overall bearish trend.

Overall, Man Industries (India) Limited faces significant resistance levels while showing oversold signals that may indicate a potential rebound. Traders should monitor these key levels and indicators closely for potential trading opportunities.