Madhya Bharat Agro Products Limited (MBAPL) Stock - Complete Technical Analysis - Aug 30, 2024

Madhya Bharat Agro Products Ltd Stock Analysis Technical Insights

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. Madhya Bharat Agro Products Limited (MBAPL) Technical Analysis

As of the latest trading session, Madhya Bharat Agro Products Limited is facing a bearish outlook according to recent technical indicators. The stock has shown a Bearish Engulfing pattern, suggesting potential bearish momentum. The current price stands at 219.47, significantly trading 66.05% below its 52-week high of 646.45 and 5.69% above its 52-week low of 207.66.

Support and Resistance Levels:

Support Levels:

Classic Pivot S1: 217.73

Fibonacci Pivot S1: 221.93

Camarilla Pivot S1: 236.1

Woodie Pivot S1: 219.86

Resistance Levels:

Classic Pivot R1: 260.62

Fibonacci Pivot R1: 254.7

Camarilla Pivot R1: 243.96

Woodie Pivot R1: 262.75

Technical Indicators:

MACD is showing a negative level, indicating potential downward pressure.

RSI is in neutral territory, suggesting that the stock is neither overbought nor oversold.

Stochastic RSI is in the higher range, reflecting possible overbought conditions.

ADX is showing moderate strength in the trend, indicating a trend but not very strong.

Moving Averages: The stock is trading below its 50-day, 100-day, and 200-day EMAs, which may suggest a bearish trend.

Chart Patterns and Observations:

The Bearish Engulfing pattern observed implies a possible continuation of the downtrend.

The Average True Range (ATR) is fluctuating, which indicates varying volatility in recent periods.

Overall, while the stock is showing bearish signs with its recent pattern and MACD readings, key support levels may offer some buffer against further declines. Traders should watch these levels closely and consider the overall trend before making trading decisions.