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Shree Digvijay Cement Co.Ltd (SHREDIGCEM) Stock - Complete Technical Analysis - Oct 01, 2024

Shree Digvijay Cement: Technical Analysis & Price Trends Explained

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.

Shree Digvijay Cement Co. Ltd is currently trading at 96.0, which places it 22.53% below its 52-week high of 123.9 and 15.37% above its 52-week low of 83.2. The stock has demonstrated some volatility in recent sessions, with the last five trading days revealing a range of price movements. Notably, the recent close on October 1st was at 95.99, following a trading day that saw prices oscillate between a low of 94.71 and a high of 96.21. This indicates a level of price fluctuation, with recent trading suggesting a downward trend, particularly after hitting a high of 98.75 on September 27th.

From a technical standpoint, the Average Directional Index (ADX) is currently low, indicating weak trend strength, while the Relative Strength Index (RSI) suggests that the stock is approaching the lower end of its trading range. Additionally, with the Stochastic %K below 30, the stock may be considered oversold, which could hint at a potential rebound. Moving averages are signaling bearish pressure, with the current price trading below key Exponential Moving Averages (EMAs) across multiple periods. Support is identified at around 94.09 and further at 91.01, while resistance is evident near 100.67. The volume-weighted average price (VWAP) aligns closely with the current price, indicating a lack of momentum.

In terms of chart patterns, a possible reversal could be anticipated if the price breaks above 97.45, aligning with the bearish trend reversal signal provided by the Awesome Oscillator and the Commodity Channel Index (CCI) hovering below -100. This environment suggests that traders should remain cautious; however, a close watch on the resistance levels will be key for potential buying opportunities, especially if the stock can stabilize above the 100 mark. The overall sentiment reflects a cautious approach, weighing potential support against the backdrop of broader market conditions and technical signals.







 

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