Hindware Home Innovation Limited (HINDWAREAP) Stock - Complete Technical Analysis - Aug 30, 2024

Hindware Home Innovation Limited (HINDWAREAP) Stock Analysis Support

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. Technical Analysis for Hindware Home Innovation Limited (HINDWAREAP):

As of the latest data, Hindware Home Innovation Limited is trading at 370, which is 39.87% below its 52-week high of 614.95 and 17.40% above its 52-week low of 315. The stock is currently encountering significant resistance near the 52-week high level and finding support around the 52-week low.

Support and Resistance Levels:

Immediate Support: 369.8 (current price)

Key Support Levels: 375.2 (Fibonacci S2), 374.75 (Woodie S2), 341.5 (Woodie S3)

Immediate Resistance: 380.0 (around recent highs)

Key Resistance Levels: 425.45 (200-day EMA), 480.4 (Classic R1), 513.2 (Classic R2)

Technical Indicators:

MACD: Currently in a bearish phase with the MACD line below the signal line.

RSI: At 35.08, indicating the stock is in oversold conditions, suggesting potential for a price rebound if buying pressure increases.

ADX: At 17.28, signaling a weak trend with low directional movement.

Stochastic Oscillator: The %K is at 24.22, reflecting oversold conditions and potential for upward movement.

Commodity Channel Index (CCI): At -91.12, showing that the stock is significantly oversold.

Awesome Oscillator: Currently negative at -35.69, indicating weak momentum.

Moving Averages:

Short-term MA (10-day): 382.08, above the current price, acting as near-term resistance.

Long-term MA (200-day): 425.45, providing long-term resistance and reflecting the overall downward trend from the high.

Pivot Points:

Classic Pivot: 444.2

Camarilla Pivot: 453.93 (R1)

Fibonacci Pivot: 444.2 (P), 470.56 (R1)

Woodie Pivot: 443.75 (P), 479.5 (R1)

Chart Patterns: The stock is showing signs of a potential reversal with oversold conditions. Watch for a breakout above the resistance levels or a sustained move above the short-term moving average (10-day) to confirm a bullish trend.

Overall, Hindware Home Innovation Limited is in an oversold condition with several support levels holding. Monitoring the breakout from these levels and the overall market trend could provide insight into the next significant movement of the stock.