Dhampur Sugar Mills Limited (DHAMPURSUG) Stock - Complete Technical Analysis - Sep 02, 2024

Dhampur Sugar Mills Technical Analysis: Key Levels

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 of Dhampur Sugar Mills Limited, ticker DHAMPURSUG. The stock is currently trading at 225, which is approximately 30.94% below its 52-week high of 325.75 and 17.71% above its 52-week low of 191.1.

The Average Directional Index (ADX) indicates a moderate trend strength. The Relative Strength Index (RSI) is approaching overbought conditions, suggesting caution. The Stochastic Oscillator is also in overbought territory, further supporting this cautious stance. The MACD is positive, indicating bullish momentum, but the level suggests potential for a slowdown. The Awesome Oscillator is showing bullish signals, and the Williams Percent Range is in the overbought zone, signaling a possible reversal.

Support levels can be observed around the Classic Pivot Support at 203.37 and Fibonacci Pivot Support at 203.2. Resistance levels are marked by the Classic Pivot Resistance at 237.37 and Fibonacci Pivot Resistance at 237.2. The stock is currently trading near its Classic Pivot Point of 216.18 and Woodie Pivot Point of 218.5.

Moving averages are presenting mixed signals. Short-term Exponential Moving Averages (EMA) like the 10-day and 20-day EMAs are below the current price, suggesting a short-term bullish trend, while longer-term averages like the 200-day EMA are above, indicating a potential resistance zone. The stock's positioning relative to these averages suggests it might face resistance around 231.31 and support near 210.84.

The candlestick patterns reveal indecision with a Doji and a Spinning Top, highlighting market uncertainty. Additionally, the Inside Candle pattern suggests the stock has been trading within a narrow range, indicating potential consolidation or a breakout.

In summary, while the stock shows some bullish momentum, various indicators suggest that traders should watch for potential resistance and consolidation. It's crucial to monitor support and resistance levels closely for any signs of a reversal or breakout.