Likhitha Infrastructure Limited (LIKHITHA) Stock - Complete Technical Analysis - Oct 04, 2024

Likhitha Infrastructure Limited: Is It Time to Buy or Sell Technical Analysis Update

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, Likhitha Infrastructure Limited is trading at 384.50, reflecting a significant 22.71% decline from its 52-week high of 497.45, reached on June 24, 2024. Conversely, it's 67.06% above the 52-week low of 230.15 established on March 28, 2024, indicating strong recovery potential from its lows. Recent price action shows a daily open of 371.90, with intraday highs reaching up to 395.00, yet closing lower at 384.50, indicating possible selling pressure at higher levels.

Examining the technical indicators, the MACD is negative, suggesting bearish momentum, while the RSI at 41.3 indicates the stock is nearing the oversold zone. The Stochastic Oscillator also points to a weak momentum trend. Additionally, the ADX at 20.07 signifies a weak trend strength, suggesting the stock may be consolidating before making a decisive move. Price trends over the last week show several fluctuations, with a notable drop on October 3rd, closing at 370.25 from an open of 371.80. These fluctuations highlight increased volatility.

Support levels can be identified at 359.23 and 330.87 based on pivot analysis, while resistance levels are anticipated near 403.97 and 432.33. Observing the EMAs, the stock is currently below the 10-day and 20-day EMAs of 386.43 and 395.0, respectively, which could indicate further downside potential if these levels are not reclaimed soon. Moreover, the stock's recent trading pattern indicates a gap from the previous days high, signifying possible price consolidation before the next move.

In summary, Likhitha Infrastructure Limited shows signs of volatility with potential for a reversal. Traders should monitor the price action closely, especially around key support and resistance levels, as this could indicate future direction. Keeping an eye on momentum indicators will be crucial for timing entries and exits effectively.