Dhunseri Ventures Limited (DVL) Stock - Complete Technical Analysis - Oct 03, 2024

Dhunseri Ventures Limited Technical Analysis: Key Support & Resistance Levels 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.

Dhunseri Ventures Limited (DVL) is currently trading at 489.40, which positions it 12.4% below its 52-week high of 558.70, achieved on January 31, 2024, and significantly above its 52-week low of 256.0, marking a 91.17% increase. Over the last five trading sessions, we've observed a mixture of volatility and price fluctuations. The most recent session saw a high of 504.50 and a low of 485.40, closing at 489.40, indicating a potential area of support around 485, while resistance can be noted around the 505 to 510 level based on the previous highs.

Analyzing the indicators, the Average Directional Index (ADX) stands at 31.08, suggesting a strong trend, while the Relative Strength Index (RSI) at 53.33 indicates that the stock is neither overbought nor oversold, maintaining a neutral stance. The MACD shows bullish momentum, reinforcing a potential upward movement, while the Stochastic indicators suggest a recent dip into oversold territory, hinting at a possible price reversal.

Price trends have indicated a recent surge from the low of 484.00 on September 30 to a high of 504.50, reflecting a positive short-term trend. However, the stock has exhibited significant volatility, evidenced by the Average True Range (ATR) and historical price changes, indicating that traders should remain cautious. Additionally, the support at the 487 to 490 zone will be crucial in determining the next move. A break below this level could lead to further downside, while a bounce back could set the stage for a test of resistance around the 505-510 range.

In summary, DVL is currently in a bullish trend with moderate volatility, but traders should keep a close eye on the support and resistance levels mentioned for potential trading opportunities.