Umang Dairies Limited (UMANGDAIRY) Stock - Complete Technical Analysis - Sep 23, 2024

Umang Dairies: Key Resistance & Support Levels for Traders

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. In this analysis of Umang Dairies Limited, currently priced at 107, we observe several key technical indicators. The stock has shown resilience but faces notable resistance around the 110 level, where selling pressure has emerged. The Relative Strength Index is indicating a neutral trend, suggesting that the stock may be consolidating before making its next move.

Support is likely found at approximately 105, which has historically provided a floor for the stock. The MACD is currently bearish, while the Awesome Oscillator hints at a potential reversal, indicating traders should keep a close eye on upcoming price action. With the stock trading significantly above its 52-week low but well below its high, market conditions and broader economic factors will play a crucial role in determining the next directional move. Overall, maintaining vigilance around these critical support and resistance levels will be essential for traders.