Wendt (India) Limited (WENDT) Stock - Complete Technical Analysis - Sep 12, 2024

Wendt (India) Limited Stock Analysis Key Support, Resistance & Patterns NSE Technical Review

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. Wendt (India) Limited (WENDT) is currently trading at 15,034, which is 11.57% below its 52-week high of 17,000.05 and 44.54% above its 52-week low of 10,401. The stock has formed an inside candle pattern as of September 11, 2024, indicating a potential consolidation phase with the stock trading between a high of 15,400 and a low of 14,688.9 over the last two days.

Technical Indicators:

MACD: The MACD is currently in negative territory, suggesting bearish momentum.

RSI: The Relative Strength Index (RSI) is near neutral levels, indicating neither overbought nor oversold conditions.

ADX: The Average Directional Index (ADX) is low, reflecting a weak trend strength.

Stochastic %K and Stochastic RSI: Both indicators are in the higher range, signaling potential overbought conditions.

Moving Averages: The stock price is below the short-term Exponential Moving Averages (EMA) but above the long-term EMAs, indicating mixed short-term versus long-term trends.

Support and Resistance: Key support levels are around 14,688.9, while resistance is at 15,400. The classic pivot point is at 14,718.83, suggesting this area may act as a significant support or resistance.

Chart Patterns and Observations:

Inside Candle Pattern: The inside candle pattern seen recently indicates a period of indecision and could signal a breakout or breakdown depending on future price action.

Volume Weighted Moving Average (VWMA): The VWMA is close to the current price, reinforcing the level of 14,743.04 as a critical support/resistance area.

Volatility:

The Average True Range (ATR) values show considerable volatility, suggesting the stock has had significant price swings recently.

In summary, Wendt (India) Limited is in a consolidation phase, with mixed signals from various technical indicators. Traders should watch for breakout or breakdown signals from the inside candle pattern and monitor key support and resistance levels for potential trading opportunities.