Bank of Maharashtra (MAHABANK) Stock - Complete Technical Analysis - Sep 17, 2024

Bank of Maharashtra Technical Analysis: Key Support & Resistance Levels Stock Market Update

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. Bank of Maharashtra (MAHABANK) is currently trading at 59.8, which is 18.63% below its 52-week high and 54.75% above its 52-week low. The technical indicators suggest a cautious but potentially bullish outlook. The RSI indicates that the stock is in neutral territory, suggesting no immediate overbought or oversold conditions. The ADX is relatively low, implying that the current trend may not be very strong.

The MACD shows a bearish momentum, which is supported by the Awesome Oscillator and the Commodity Channel Index indicating downward pressure. The Stochastic Oscillator, however, suggests the stock might be oversold, which could mean a potential reversal or consolidation in the near term.

Support levels for MAHABANK are near the 59.0 mark, with a potential pivot support around 58.0. Resistance levels are closer to 61.5, with a significant resistance zone around 63.0. The stocks moving averages show that it is trading below its short-term and medium-term averages, reinforcing the current bearish bias. If MAHABANK can break above its resistance levels, it could signal a bullish turnaround. Conversely, a drop below support levels might indicate further downside.