Vinati Organics Limited (VINATIORGA) Stock - Complete Technical Analysis - Sep 19, 2024

Vinati Organics Limited (VINATIORGA) Stock Analysis: Key Support, Resistance & Trends

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.

Let's delve into the technical analysis of Vinati Organics Limited (VINATIORGA) stock, currently trading at 1,951.

Support and Resistance Levels: The stock is encountering key support near 1,815.3, with additional support at 1,660.65 and 1,248.65. Resistance levels are crucial, with significant hurdles at 2,227.3 and higher at 2,484.65.

Moving Averages: The current price is slightly above the Exponential Moving Average (EMA) of 10 days (1,948.68), but below the 20-day EMA (1,961.65) and the 30-day EMA (1,972.9). It is also below the 50-day EMA (1,967.96) and significantly above the 200-day EMA (1,849.76). The price is trading below the 10-day Simple Moving Average (SMA) of 1,935.69 but above the 20-day SMA (1,949.98).

Ichimoku and Pivot Points: The Ichimoku Base Line stands at 1,995.68, indicating potential resistance. The Classic Pivot Point is at 2,072.65, while the Camarilla Pivot Point is also at 2,072.65. These pivot levels suggest the stock may face resistance near this range.

Technical Indicators:

MACD is showing a negative value, indicating a bearish trend.

RSI is at 46.6, suggesting the stock is neither overbought nor oversold, but on the lower side of neutrality.

Stochastic %K is at 67.69, indicating bullish momentum but approaching overbought conditions.

Awesome Oscillator is negative, suggesting bearish momentum.

Commodity Channel Index (CCI) is negative, which also supports a bearish sentiment.

Williams Percent Range is -41.5, which is on the edge of being oversold.

Average True Range (ATR): The ATR shows a high volatility range with values fluctuating between 300 and 600, indicating the stock has been experiencing significant price swings recently.

Chart Patterns and Other Observations: Given the stock is trading 16.26% below its 52-week high of 2,330 and 33.45% above its 52-week low of 1,462, it shows resilience in the current market. The stock is moving between support and resistance levels, and traders should watch for price action around these levels for potential breakout or breakdown opportunities.

In summary, Vinati Organics Limited's stock is currently in a consolidation phase between notable support and resistance levels. Technical indicators suggest caution with a potential bearish trend, but the price remains above critical moving averages and pivot points.