Deepak Nitrite Limited (DEEPAKNTR) Stock - Complete Technical Analysis - Sep 18, 2024

Deepak Nitrite (DEEPAKNTR) Stock Analysis: Support & Resistance Levels, Trends & 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.

Deepak Nitrite Limited (DEEPAKNTR) is trading at 2,886, which is approximately 9% below its 52-week high and around 50% above its 52-week low. Currently, the stock's technical indicators suggest a bearish to neutral trend. The RSI indicates that the stock is approaching oversold territory, while the Stochastic and Stochastic RSI suggest weak momentum. The MACD also points to a bearish crossover, reflecting potential downward pressure.

Support levels are seen around 2,840 and 2,800, while resistance is likely at 2,950 and 3,000. The Average Directional Index (ADX) indicates a weakening trend, and the stock is trading below its key moving averages, suggesting potential further declines. The Awesome Oscillator and Commodity Channel Index (CCI) also reflect bearish sentiment. Traders should be cautious and watch these support levels closely, as a break below these could signal more significant declines, while resistance levels could act as barriers for upward movement.