Gandhar Oil Refinery (India) Limited (GANDHAR) Stock - Complete Technical Analysis - Oct 01, 2024

Gandhar Oil Refinery Stock Analysis: Key Levels & Trading Insights for October 2024

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.

Gandhar Oil Refinery (India) Limited is currently trading at 207.25, significantly below its 52-week high of 344.05 and slightly above its low of 182.45. The stock recently exhibited an inside candle pattern on September 30, indicating indecision in the market, with the parent high at 213.01 and low at 206.00. The last few trading sessions have shown volatility, with a notable surge from 206.00 to 213.01 before closing lower at 207.25.

The MACD is in negative territory, suggesting bearish momentum, while the RSI indicates that the stock is neither overbought nor oversold, sitting at 42.63. The ADX at 16.94 shows weak trend strength, signaling that traders should be cautious of potential breakouts or breakdowns. The stock is experiencing a range-bound movement between 197.12 and 213.01, with support at 197.12 and resistance around 213.01, as indicated by pivot levels.

Price trends show fluctuations, as observed in the last five trading days where prices moved between highs of 214.90 and lows of 206.00. The volatility measured by the ATR indicates moderate price swings, with the average true range hovering around 8.04. Overall, traders should watch for a breakout above the resistance level at 213.01 or a breakdown below support at 197.12, as this could signal the next directional move.