CESC Limited (CESC) Stock - Complete Technical Analysis - Sep 27, 2024

CESC Limited Technical Analysis: Key Support & Resistance 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.

Let's dive into the technical analysis for CESC Limited, currently trading at 200. The stock exhibits a positive sentiment with the formation of a Bullish Harami pattern, suggesting potential upward momentum. With the Relative Strength Index (RSI) hovering around 57, the stock is approaching overbought territory, indicating that traders should watch for any signs of exhaustion.

Support levels are identified at 190 and 170, providing critical buy zones should the stock experience a pullback. On the resistance front, the stock faces hurdles at 213 and 233, which could serve as potential exit points for traders looking to secure profits.

Looking at moving averages, the stock is above its 10-day and 20-day Exponential Moving Averages (EMA), reflecting a bullish trend in the short term. The Average Directional Index (ADX) suggests that the current trend lacks strength, given its low reading, signaling that a breakout could be imminent.

In addition, the MACD has crossed above its signal line, reinforcing the bullish outlook. However, traders should exercise caution, as the Stochastic indicator indicates overbought conditions. Overall, CESC Limited appears to be in a consolidative phase, and careful monitoring of key support and resistance levels will be crucial for traders looking to capitalize on potential price movements.