Mangalore Chemicals & Fertilizers Limited (MANGCHEFER) Stock - Complete Technical Analysis - Sep 13, 2024

Mangalore Chemicals & Fertilizers (MANGCHEFER) Stock Analysis: Key Support & Resistance Levels Rev

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.

Mangalore Chemicals & Fertilizers Limited (MANGCHEFER) is currently trading at 129.29. The technical outlook presents a mixed picture. The MACD and Awesome Oscillator suggest a bearish trend, with the MACD line below the signal line, indicating potential further downside. The RSI is in neutral territory, showing neither overbought nor oversold conditions, while the Stochastic and Stochastic RSI indicate that the stock might be in an oversold phase, potentially signaling a possible rebound.

Resistance is observed around the 132-133 range, aligning with recent pivot points and moving averages. If the stock can break through these levels, it might target the recent 52-week high of 156.1. On the support side, the stock appears to have solid support around 129.00, with additional support levels likely near 126.5 and 115.5 based on historical price behavior and pivot analysis.

Today's candlestick pattern, a Spinning Top, reflects indecision in the market, suggesting that traders should be cautious as the stock may be consolidating or preparing for a potential reversal. With the ADX indicating a weakening trend, it is crucial to monitor how the stock interacts with these key levels for future trading decisions.