Kalyan Jewellers India Limited (KALYANKJIL) Stock - Complete Technical Analysis - Sep 17, 2024

Kalyan Jewellers Stock Analysis Is KALYANKJIL Set for a New High Key Levels and Indicators

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.

Kalyan Jewellers India Limited (KALYANKJIL) is showing strong bullish momentum with its current price near 713, just under 5% below its 52-week high. The stock has seen a significant rally, trading over 250% above its 52-week low. With a high ADX value, the stock indicates a strong trend. The RSI suggests that the stock is in overbought territory, hinting at a potential consolidation or short-term pullback. However, the bullish Harami pattern and the inside candle formation could suggest further upside if the stock breaks above key resistance levels. Momentum indicators like the MACD and Awesome Oscillator are confirming the bullish sentiment, showing strength in the upward movement. The stock is well-supported by key moving averages, with the 10-day and 20-day EMAs acting as strong support zones. As the price continues to trade above the major exponential moving averages, this indicates the strength of the uptrend. Resistance is expected around its recent high near 749, with immediate support around 675. Traders should watch for price action around these levels, especially with volume spikes or further bullish patterns emerging.