Mukand Limited (MUKANDLTD) Stock - Complete Technical Analysis - Aug 30, 2024

Mukand Limited (MUKANDLTD) Stock Analysis: Bearish Trends

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. Mukand Limited (MUKANDLTD) currently trades at 155, reflecting a recent pullback from its 52-week high of 212.8, positioning it approximately 27% below this peak. The stock is 15% above its 52-week low of 135, indicating a moderate uptrend within the year.

Technical indicators reveal a mixed sentiment. The ADX is relatively low, suggesting a weak trend, while the RSI is in the neutral zone, hinting at potential for both bullish and bearish movements. The Stochastic %K is slightly above the midline, which may indicate some bullish momentum, yet the Stochastic RSI Fast is showing a stronger oversold condition. MACD is currently negative, signaling potential bearishness in the near term.

Moving averages present a bearish outlook. The stock price is below several key exponential moving averages, including the 10, 20, 30, and 50-day EMAs. The 200-day EMA stands well above the current price, reinforcing the bearish trend. Conversely, the Simple Moving Averages are also aligned with this bearish sentiment, with the stock trading below the 10, 20, 30, 50, 100, and 200-day SMAs.

Pivot points suggest that Mukand Limited faces resistance at various levels: Classic R1 is at 196.27, with higher resistance at R2 and R3. Support is identified at the Classic S1 level of 164.27, with additional support at S2 and S3. Camarilla and Fibonacci pivots align closely with these levels, reinforcing the support and resistance ranges.

The ATR indicates increased volatility, suggesting potential for significant price swings. The stock is currently exhibiting lower momentum and has a negative Awesome Oscillator, which could further imply bearish conditions.

In summary, Mukand Limited is currently in a downtrend with significant resistance levels above and weak trend indicators. Traders should watch for any signs of reversal or consolidation around the support levels mentioned.