Stove Kraft Limited (STOVEKRAFT) Stock - Complete Technical Analysis - Sep 02, 2024

Stove Kraft Limited (STOVEKRAFT) Stock Analysis - Is It Time to Buy or Sell 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 dive into the technical analysis for Stove Kraft Limited (STOVEKRAFT), with the current price at 866.

Starting with the Support and Resistance Levels:

Support Levels: The primary support is around 814, based on the Camarilla S1 pivot, with additional support at 749 from the Classic and Fibonacci pivot points. The next significant support is 648, based on the Classic S1 pivot.

Resistance Levels: The immediate resistance is around 867.9, as indicated by the Camarilla R1 pivot, with further resistance at 930.66 from the Fibonacci R2 pivot. Key resistance levels to watch are also around 941.95 (Classic R1) and 1042.95 (Fibonacci R3).

Technical Indicators:

MACD: The MACD is in a bullish zone, indicating strong upward momentum.

RSI: The RSI is very high, signaling that the stock is in the overbought territory, which could indicate potential for a pullback.

ADX: The ADX is high, suggesting a strong trend. The stock is currently experiencing a robust trend, which is supported by the high ADX value.

Stochastic Oscillator: The Stochastic %K and Stochastic RSI are both in overbought conditions, which might signal that the stock could be due for a correction soon.

Moving Averages: The stock is trading above all its key moving averages, indicating an overall bullish trend. The current price is above the 10-day, 20-day, 50-day, 100-day, and 200-day EMAs and SMAs.

Ichimoku Cloud: The current price is above the Ichimoku Base Line, reinforcing the bullish trend.

Chart Patterns and Observations:

The stock is trading near its 52-week high and significantly above its 52-week low, reflecting strong performance over the past year.

Average True Range (ATR): The ATR values are relatively high, suggesting increased volatility and larger price movements.

Overall, Stove Kraft Limited is showing a strong bullish trend, but with some indicators suggesting that the stock might be overbought. Traders should watch the key resistance levels for potential selling opportunities and the support levels for buying opportunities if the stock pulls back.