CARE Ratings Limited (CARERATING) Stock - Complete Technical Analysis - Sep 27, 2024

Technical Analysis of CARE Ratings Limited: Trends & Insights for Traders

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's analysis of CARE Ratings Limited, currently trading at 1012.40, reveals a stock that is navigating a critical junction following its recent trading patterns. The stock is currently 19.90% below its 52-week high of 1263.95 and 21.80% above its 52-week low of 831.20, suggesting a moderate bullish trend.

In terms of technical indicators, the stock has shown a Doji candlestick pattern today, indicating market indecision, with an opening price of 1007.65 and a close of 1012.40. Coupled with this, a Bullish Harami pattern was formed yesterday, suggesting potential upward momentum. The Stochastic RSI is indicating strength with values around 64, while the RSI sits comfortably at 52.66, suggesting the stock is neither overbought nor oversold.

Support levels can be observed at the psychological threshold of 1000 and further at the classic pivot point around 970. On the resistance front, significant barriers exist around 1018.73 and 1065.47, which traders should monitor closely.

The ADX indicates a strengthening trend, while the MACD level suggests bullish momentum. As the stock approaches its EMAs and SMAs, the convergence around the 1000 mark provides a critical support zone. The Average True Range (ATR) highlights increased volatility, and the Awesome Oscillator signals positive momentum.

With a robust ROCE of 22% and a steady dividend yield of 1.78%, CARE Ratings Limited remains an attractive prospect for long-term investors. However, traders should stay vigilant of the resistance levels and market signals for optimal entry and exit points.