Insecticides (India) Limited (INSECTICID) Stock - Complete Technical Analysis - Sep 02, 2024

Insecticides (India) Ltd Stock Analysis: Key Levels, Trends, and Indicators NSE Technical Overvie

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 for Insecticides (India) Limited, trading at 926. Currently, the stock is 14.57% below its 52-week high of 1084.25 and 102.92% above its 52-week low of 456.45, reflecting a robust upward trend.

Support and Resistance Levels: Key support levels to watch are around the Classic Pivot S1 at 793.52 and the Camarilla S3 at 899.22. Should the stock move lower, these could act as significant support zones. On the resistance side, the Classic Pivot R1 at 1139.82 and the Fibonacci R2 at 1152.9 are notable, potentially capping upward momentum.

Moving Averages and Indicators: The stock is trading below the Short-Term Exponential Moving Averages (10 and 20) of 942.43 and 905.12, indicating a bearish short-term trend. Conversely, it's above the Long-Term Averages (50, 100, 200), which are at 816.47, 733.57, and 661.41, respectively, signaling strength in the longer-term trend.

The Average Directional Index (ADX) is strong at 41.22, suggesting a well-established trend, while the MACD level is positive, indicating bullish momentum. The Relative Strength Index (RSI) is at 57.34, which suggests the stock is neither overbought nor oversold but leans towards bullishness. The Stochastic %K is neutral at 50.86, and the Stochastic RSI is slightly below the neutral zone, suggesting a mixed short-term outlook.

Additional Observations: The Hull Moving Average at 1000.36 and the Volume Weighted Moving Average at 923.34 highlight that the stock is trading below these averages, which may indicate a bearish bias in the near term. The Awesome Oscillator is positive at 129.53, reinforcing the bullish trend, and the Commodity Channel Index (CCI) is at 38.66, indicating some positive momentum.

In summary, Insecticides (India) Limited is experiencing a strong uptrend over the long term but may face resistance at higher levels while finding support around 793.52. Traders should watch these levels closely along with the moving averages and technical indicators for signs of trend reversal or continuation.