Dalmia Bharat Limited (DALBHARAT) Stock - Complete Technical Analysis - Sep 17, 2024

Dalmia Bharat Technical Analysis: Key Support, Resistance & Trend Indicators for 2024

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.

Dalmia Bharat Limited (DALBHARAT) is currently trading at 1,822, showing a notable deviation from its 52-week high of 2,430.7 and a modest rise from its 52-week low of 1,651.4. This stock's performance is being scrutinized from various technical angles to understand potential future movements.

Starting with the Moving Averages, DALBHARAT is below its short-term Exponential Moving Averages (EMA) but above the longer-term EMA levels. The 10-day EMA is at 1,869.91, while the 50-day EMA stands at 1,841.59, indicating a bearish trend in the short term. Similarly, the Simple Moving Averages (SMA) confirm this with the 10-day SMA at 1,884.65 and the 50-day SMA at 1,830.26, also suggesting that the stock is currently trading below its recent average levels.

The Relative Strength Index (RSI) is at 44.21, hinting at a neutral to slightly bearish condition, while the Stochastic RSI is significantly low at 11.03, indicating that the stock might be in an oversold condition. The MACD value of 16.36 reflects a positive trend, though the lower value might suggest weakening momentum.

Average True Range (ATR) is fluctuating around 419.12 to 601.11, showing a high level of volatility in recent periods. This suggests that traders should be prepared for significant price swings.

Chart Patterns and indicators such as the Ichimoku Base Line at 1,825.65, and the Volume Weighted Moving Average (VWMA) of 1,854.81 provide crucial support and resistance benchmarks. The Classic Pivot Point is set at 1,830.43, while the Woodie Pivot stands slightly higher at 1,850.06, indicating potential areas of support and resistance.

In summary, DALBHARAT's technical indicators reflect mixed signals. The stock is showing signs of being oversold and has strong support around the pivot levels, but its current position below key moving averages and indicators suggest caution. Traders should closely monitor these levels and be prepared for potential volatility.