D. P. Abhushan Limited (DPABHUSHAN) Stock - Complete Technical Analysis - Sep 13, 2024

D. P. Abhushan Limited Stock Analysis: Is This Bullish Trend Sustainable 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.

For D. P. Abhushan Limited (DPABHUSHAN), the technical indicators present a mixed but generally bullish outlook.

Support and Resistance Levels: The stock is currently trading at 1,690, slightly below its 52-week high of 1,715.1, which suggests that the stock is close to its peak but still has room to grow. Key support levels are seen around the classic pivot S1 at 1,207.48 and S2 at 1,083.02. Resistance levels to watch are at the classic pivot R1 of 1,438.18 and R2 at 1,544.42.

Moving Averages: The stock is trading well above its short-term moving averages, with the 10-day EMA at 1,555.98 and the 20-day EMA at 1,468.54. This indicates a strong upward trend. The 50-day EMA at 1,369.57 and 200-day EMA at 1,072.4 also show that the stock is significantly above its long-term averages, reinforcing its bullish trend.

Technical Indicators:

MACD: The MACD level is high, suggesting strong momentum.

RSI: At 74.02, the RSI indicates that the stock is in the overbought zone, which might imply a possible consolidation or pullback.

ADX: The ADX at 37.84 indicates a strong trend, which supports the current bullish outlook.

Stochastic %K: The Stochastic %K at 88.99 shows that the stock is nearing overbought conditions.

CCI: The Commodity Channel Index (149.05) is high, reinforcing the bullish trend.

Williams %R: At -8.75, this indicates the stock is overbought.

Chart Patterns:

Ichimoku Base Line: At 1,469.73, this provides a level of support in the current uptrend.

Hull Moving Average: At 1,726.31, it indicates that the stock is trading below this average, which may suggest potential resistance at higher levels.

Volatility: The Average True Range (ATR) shows increasing volatility with recent values reaching 77.34. This suggests that the stock might experience larger price swings, which could be beneficial for traders looking to capitalize on short-term movements.

Overall, while the stock is in a strong bullish trend with robust momentum indicators, traders should be cautious of potential overbought conditions and watch for possible consolidations or pullbacks. The support and resistance levels will be crucial in guiding trading strategies.