Radico Khaitan Limited (RADICO) Stock - Complete Technical Analysis - Sep 26, 2024

Radico Khaitan Stock Analysis: Bullish Trends & Key Support Levels Unveiled

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.

Today, well analyze the stock of Radico Khaitan Limited, currently priced at 2,133.95. The stock is trading 8.52% below its 52-week high of 2,332.7, reached on September 19, 2024, and is 86.98% above its 52-week low of 1,141.25, noted on October 26, 2023.

From a technical perspective, the Average Directional Index (ADX) indicates a strong trend, currently at 47.64, suggesting significant momentum. The Relative Strength Index (RSI) is at 63.67, indicating that the stock is nearing overbought territory but still has room to run. The Stochastic Oscillator shows a value of 48.62, implying a balanced position in the market, while the MACD level is at 85.57, signaling bullish momentum.

The stock has formed a Bullish Harami pattern, reflecting potential reversal or continuation of upward momentum. Notably, the Ichimoku Base Line is at 2,028.15, which can act as a support level in the near term.

Looking at moving averages, the stock is currently above both its 10-day and 20-day exponential moving averages, indicating a bullish trend. However, the price is approaching the classic pivot point of 1,848.6, which further supports this bullish outlook.

In terms of volatility, the Average True Range (ATR) is indicating heightened volatility, suggesting traders should be prepared for price swings.

Overall, Radico Khaitan Limited displays bullish signs, and traders should watch for breakouts above recent highs, with a close eye on support levels for potential entries.