Vardhman Textiles Limited (VTL) Stock - Complete Technical Analysis - Sep 19, 2024

Vardhman Textiles Stock Analysis: Key Levels, Indicators, & Chart Patterns VTL Technical Review

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 dive into the technical analysis for Vardhman Textiles Limited (VTL). Currently trading at 491, VTL is showing a mixed technical picture.

Support and Resistance Levels:

Immediate Support: Around 461, based on Classic and Fibonacci pivot points. If the stock declines further, the next support levels are at 426 and 338.

Immediate Resistance: The stock faces resistance at 515.4, with further resistance at 549.6 and 603.95.

Technical Indicators:

MACD: The MACD line is below the signal line, indicating bearish momentum.

RSI: The Relative Strength Index is near 45, suggesting the stock is neither overbought nor oversold but could be approaching oversold conditions.

ADX: The Average Directional Index is at 18.54, showing a weak trend strength.

Stochastic Oscillator: The %K is at 38.31, indicating potential for upward momentum but not strongly bullish.

Commodity Channel Index (CCI): The CCI is -117.76, indicating that the stock might be in a downtrend.

Awesome Oscillator: At -7.79, it suggests bearish momentum.

Williams Percent Range: At -63.68, it reflects a moderately oversold condition.

Ultimate Oscillator: The Ultimate Oscillator is at 42.35, suggesting a neutral to bearish trend.

Moving Averages:

The stock is trading below the 10-day, 20-day, 30-day, 50-day, and 100-day moving averages but above the 200-day moving average, indicating a potential short-term weakness with a longer-term uptrend.

Chart Patterns:

A Hammer pattern was observed recently, which could signal a potential bullish reversal if confirmed by subsequent bullish price action.

Volatility:

The Average True Range (ATR) over 14 days shows high volatility, with recent ATR values indicating a potential for significant price swings.

In summary, VTL shows potential support at lower levels and resistance at higher levels. The technical indicators suggest cautious optimism with possible bullish reversals if confirmed. The stock's current price reflects a significant discount from its 52-week high, and it's performing better relative to its 52-week low.