ZUARI INDUSTRIES LIMITED (ZUARIIND) Stock - Complete Technical Analysis - Sep 13, 2024

Zuari Industries Limited (ZUARIIND) Stock Analysis Technical Insights & Key Levels for Traders

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.

In today's analysis of Zuari Industries Limited (ZUARIIND), we see a stock currently trading at 375. This is approximately 11.40% below its 52-week high of 423.4, achieved on July 8, 2024, and 175.64% above its 52-week low of 136.1 from October 26, 2023.

Technical Indicators Overview:

MACD shows a positive level, indicating upward momentum.

RSI is near the neutral level, suggesting the stock is neither overbought nor oversold.

Stochastic %K and Stochastic RSI indicate that the stock might be in an oversold condition.

ADX is relatively low, suggesting that the current trend might lack strength.

Moving Averages:

The Exponential Moving Averages (EMAs) and Simple Moving Averages (SMAs) show that the stock is trading above most of its shorter-term averages, with support around the 364.28 to 370.72 range.

Ichimoku Base Line and Hull Moving Average are also above the current price, signaling potential resistance in the short term.

Pivot Points:

Classic Pivot at 371.55 indicates a critical level to watch for potential reversals.

Camarilla Pivot also supports this level, showing that a breakout could occur if the price moves significantly above or below this pivot.

Chart Patterns and Observations:

The Average True Range (ATR) indicates volatility in the stock, with recent increases suggesting potential for larger price swings.

Awesome Oscillator is positive, which supports the bullish view, while Williams Percent Range indicates a potentially oversold condition.

In summary, Zuari Industries Limited appears to be at a critical juncture. The stock is experiencing some technical bullish signals but faces potential resistance around its pivot points. Traders should keep an eye on the support levels near the moving averages and watch for any breakout above the pivot points.