Ajmera Realty & Infra India Limited (AJMERA) Stock - Complete Technical Analysis - Sep 12, 2024

Ajmera Realty Technical Analysis Key Levels & Indicators Explained Is a Breakout Coming

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.

Ajmera Realty & Infra India Limited (AJMERA) is currently trading at 680, showing a recovery from recent lows. With the Relative Strength Index (RSI) sitting in the lower range, the stock is showing weak momentum, suggesting a neutral-to-bearish sentiment. The Moving Average Convergence Divergence (MACD) indicates bearish momentum, as does the Awesome Oscillator. With the Commodity Channel Index (CCI) and Stochastic indicators also showing oversold conditions, there may be a potential short-term bounce, although it lacks strong conviction due to low momentum levels. The Average Directional Index (ADX) signals a weak trend, further reinforcing the stock's indecisiveness in the current market.

Key support is observed around 658, and if this level is breached, the stock could see further downside. On the upside, resistance lies near 700, where multiple moving averages are converging. The inside candle pattern from recent sessions suggests consolidation, with traders looking for a breakout from the current range between 663 and 698. The Morning Star pattern observed earlier indicates a possible bullish reversal, but further confirmation is needed.

Long-term investors should watch for a clear breakout above the 700 resistance to signal renewed upward momentum, while traders could see short-term buying opportunities near support levels, especially if momentum starts improving.