SHREE CEMENT LIMITED (SHREECEM) Stock - Complete Technical Analysis - Sep 03, 2024

SHREE CEMENT Limited Stock Analysis Technical 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. For SHREE CEMENT LIMITED (SHREECEM), the current price stands at 25,508. The stock displays a P/E ratio of 43.8 and a dividend yield of 0.41%, indicating a high valuation relative to earnings with a modest return on investment. The Book Value per share is 5,738, with a ROCE of 14.8% and ROE of 12.2%, suggesting efficient use of capital and reasonable profitability.

Technical indicators reveal a mixed picture. The MACD is negative, reflecting a bearish trend, while the RSI is at a neutral level, indicating neither overbought nor oversold conditions. The Stochastic RSI and Stochastic %K are in the overbought region, hinting at potential price corrections. The ADX suggests a moderately strong trend, and the CCI is in a positive zone, indicating buying interest.

Moving averages are showing a mixed trend. Shorter-term EMAs are below the price, suggesting recent bullish momentum, while longer-term SMAs and EMAs are above, pointing to potential resistance. The Ichimoku Base Line is above the current price, adding to the resistance sentiment.

Chart patterns indicate a Bullish Harami, which is a potential reversal pattern suggesting a bullish move might be imminent. However, traders should be cautious as the Awesome Oscillator and the Williams Percent Range indicate weakening momentum.

In terms of support and resistance, the immediate support is around the 25,000 mark, while resistance is seen near 26,000. The ATR values suggest high volatility, which could lead to significant price swings. Traders should monitor these levels closely for potential breakout or breakdown opportunities.