DCM Shriram Limited (DCMSHRIRAM) Stock - Complete Technical Analysis - Sep 19, 2024

DCM Shriram Technical Analysis: Support & Resistance Insights September 2024 Forecast

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. DCM Shriram Limited (DCMSHRIRAM) is currently trading at 1,089, which is approximately 10.02% below its 52-week high of 1,210 and 30.80% above its 52-week low of 832.

The stock shows mixed technical signals. The RSI is in neutral territory, suggesting no strong momentum in either direction. The Stochastic %K and Stochastic RSI indicate the stock is oversold, pointing towards potential upward correction. The MACD is below the signal line, indicating a bearish trend. The Commodity Channel Index and Awesome Oscillator are also in negative territory, reflecting bearish sentiment. The Bull Bear Power is negative but not overly so.

Support levels for DCMSHRIRAM are around 1,040 and 927, while resistance is seen near 1,120 and 1,232. The stock's position relative to its moving averages suggests it is trading below the short-term averages but above the longer-term ones, indicating a possible range-bound market. The Doji and Spinning Top patterns observed reflect market indecision, suggesting caution.

Traders should watch for confirmation of direction from these technical indicators and patterns to decide on potential entry or exit points.