Shree Digvijay Cement Co.Ltd (SHREDIGCEM) Stock - Complete Technical Analysis - Sep 02, 2024

Shree Digvijay Cement Stock Analysis: Support, Resistance

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. Shree Digvijay Cement Co. Ltd (SHREDIGCEM) is currently trading at 100.79, reflecting a position 18.65% below its 52-week high of 123.9 and 21.14% above its 52-week low of 83.2. The stock's technical analysis reveals several insights.

The current price is close to the Classic Pivot Point of 100.61, indicating that this level is crucial for the stock's near-term direction. Immediate resistance can be observed around the Classic Pivot R1 at 107.0, while support is found near the Classic Pivot S1 at 93.97.

In terms of moving averages, the stock's current price is above the Exponential Moving Averages (EMAs) of 10 and 20, but below longer-term EMAs such as the 50, 100, and 200. The Simple Moving Averages (SMAs) present a mixed picture: the 10 and 20-period SMAs are just above the current price, whereas the 30 and 50-period SMAs are higher.

The MACD is showing a negative level, indicating bearish momentum. Meanwhile, the RSI is at 45.89, suggesting the stock is neither overbought nor oversold but is approaching neutral territory. The Stochastic RSI Fast is at 64.29, showing the stock is leaning towards the overbought region. The ADX reading of 24.64 indicates a moderate trend strength, suggesting the current trend is not very strong but still present.

Chart patterns indicate indecision, with both a Doji and a Spinning Top formation observed, reflecting market uncertainty. The Average True Range (ATR) shows volatility, with recent values fluctuating between 14.05 and 19.42, indicating the stock has experienced varying degrees of price movement.

Overall, SHREDIGCEM's technical indicators suggest cautious optimism. Key levels to watch include support at around 93.97 and resistance near 107.0. The current mixed signals imply that traders should be alert to potential price movements and be prepared for volatility.