Manaksia Limited (MANAKSIA) Stock - Complete Technical Analysis - Oct 04, 2024

Manaksia Limited Stock Key Support & Resistance MACD, RSI, Momentum Insights

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. Manaksia Limited (MANAKSIA) is trading at 101, showing a consolidation pattern after recent volatility. The stock is currently facing resistance at 103 and has strong support around the 95-100 levels. The Relative Strength Index (RSI) indicates a neutral stance, suggesting that neither bulls nor bears are in full control. The Average Directional Index (ADX) indicates a moderately strong trend, which may strengthen if momentum builds up.

Momentum indicators such as MACD and Awesome Oscillator show the stock has some positive momentum, but the recent formation of a Spinning Top candle pattern suggests indecision in the market. Traders should watch for a breakout from current levels to signal the next move. The Stochastic indicators are leaning towards oversold levels, which could trigger a potential rebound.

Moving averages show the stock is hovering around its short-term averages, with the longer-term averages providing some resistance. If the stock breaks above its 50-day moving average, it could test higher levels near 115-120. On the downside, a breach of the 95 support could lead to further correction.

Traders are advised to monitor the volume for any signs of accumulation, as this could precede a breakout. With ATR indicating steady volatility, there could be sharp movements in the near term. Keep an eye on momentum indicators for early signs of reversal or continuation.