Indo Count Industries Limited (ICIL) Stock - Complete Technical Analysis - Sep 20, 2024

Indo Count Industries Stock Analysis Key Levels & Market Insights Unveiled

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. Indo Count Industries Limited is currently trading at 390.95, which is about 13.25% below its 52-week high of 450.65, and 81.67% above its 52-week low of 215.2. The stock exhibits a P/E ratio of 23.3, suggesting moderate growth expectations from investors, while the ROCE and ROE stand at 17.8% and 16.9%, respectively, indicating solid returns on capital and equity.

From a technical standpoint, the RSI is at 43, signaling that the stock is neither overbought nor oversold, which could mean that there's potential for both upward and downward movements. The MACD is slightly bearish, indicating that the stock might face some resistance in the near term. The recent formation of a Doji candle indicates market indecision, while the Bullish Harami pattern from yesterday could suggest a potential reversal in trend if confirmed.

Support levels are observed around 380, while resistance is likely near the 400 level. A break above this resistance could provide bullish momentum, but traders should be cautious as the Stochastic and Williams Percent Range indicators point towards oversold conditions. Overall, the combination of current price action and technical indicators suggests that traders should closely monitor price movements around these key levels.