Igarashi Motors India Limited (IGARASHI) Stock - Complete Technical Analysis - Sep 02, 2024

Igarashi Motors India Ltd (IGARASHI) Stock Analysis: Key Support

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. Igarashi Motors India Limited, currently trading around 705, exhibits a strong bullish trend according to several technical indicators. The stock is well above its 52-week low of 402, showing a significant recovery, though it's about 11% below its 52-week high of 792. The Average Directional Index (ADX) at 43.05 indicates a robust trend with strong directional movement. The Relative Strength Index (RSI) is at 60.63, suggesting the stock is in bullish territory but not yet overbought. The MACD level of 44.07 supports a positive trend, while the Stochastic %K and Stochastic RSI signals show some overbought conditions but not extreme. The Awesome Oscillator is also positive, reinforcing the bullish momentum.

Support levels can be identified around the Classic Pivot S1 at 579.52 and Fibonacci Pivot S1 at 594.86, while resistance might be encountered near the Classic Pivot R1 at 817.67 and Woodie Pivot R1 at 834.98. The stock's proximity to the Exponential Moving Averages (EMA) and Simple Moving Averages (SMA) suggests that the EMA (10) at 706.71 and SMA (10) at 715.82 could act as immediate resistance, while the EMA (200) at 535.65 and SMA (200) at 521.88 are key support levels.

The Average True Range (ATR) reflects moderate volatility, indicating that price movements could be significant. Overall, Igarashi Motors shows a strong uptrend with support and resistance levels that traders should monitor closely.