India Motor Parts and Accessories Limited (IMPAL) Stock - Complete Technical Analysis - Oct 03, 2024

India Motor Parts Stock Analysis: Insights and Predictions 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.

Technical Analysis for India Motor Parts and Accessories Limited (IMPAL)

Currently trading at 1,333.75, IMPAL has shown notable price movements. It's important to highlight that the stock is trading approximately 11.08% below its 52-week high of 1,500, reached on July 29, 2024, and 78.08% above its 52-week low of 748.95 from October 27, 2023.

The last five trading days indicate a relatively volatile trend with significant price fluctuations. Notably, the stock displayed an inside candle pattern on October 1, with a parent high of 1,383.70 and a low of 1,325.30, indicating a period of consolidation. The open, high, low, and close values over this timeframe show that the stock is experiencing sudden price drops, particularly on October 1 and September 27, which might reflect broader market volatility or company-specific news.

From a technical perspective, the Average Directional Index (ADX) at 18.91 suggests that the stock is currently in a weak trend phase. Meanwhile, the Relative Strength Index (RSI) is at 48.37, indicating a neutral stance without being overbought or oversold, making it crucial to watch for any signs of reversal. The Stochastic oscillator is also in a neutral position, suggesting that traders should monitor for potential breakout levels.

Support levels can be identified around the recent low of 1,325.30, with the next significant support at 1,251.25. Resistance is evident at the previous high of 1,383.70, with potential resistance around 1,483.05. The stock's moving averages, especially the 10-day and 20-day exponential moving averages hovering around 1,347, suggest a level of resistance that traders need to be aware of.

Overall, investors should keep an eye on potential breakout opportunities while remaining cautious of volatility. The indicators suggest that price movements may continue to be choppy in the short term, and monitoring the support and resistance levels will be essential for making informed trading decisions.