Hardwyn India Limited (HARDWYN) Stock - Complete Technical Analysis - Sep 13, 2024

Hardwyn India (HARDWYN) Stock Analysis: Key Levels & Market Trends to Watch Out For

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.

Hardwyn India Limited (HARDWYN) is currently trading at 40.7, which is 21.71% below its 52-week high and 56.58% above its 52-week low. The stock is exhibiting strong bullish momentum, with key indicators such as RSI and Stochastic showing overbought conditions, suggesting a high level of buying interest. The MACD and Awesome Oscillator further confirm the bullish trend, although they also indicate that the stock may be due for a short-term correction.

The Average Directional Index (ADX) is indicating a strong trend, while the Commodity Channel Index (CCI) is significantly high, pointing to a potentially overheated market. Key resistance levels are near 52, while support is around 30, based on recent pivot points and moving averages. The stocks moving averages are trending upwards, with shorter-term averages above longer-term ones, reinforcing the current bullish sentiment.

However, given the high RSI and Stochastic readings, traders should be cautious of potential pullbacks. The stocks volatility, as indicated by the ATR, suggests significant price swings, so managing risk and setting stop-loss orders could be prudent. Overall, while the bullish trend is strong, attention to overbought signals and key support levels will be crucial for making informed trading decisions.