Radico Khaitan Limited (RADICO) Stock - Complete Technical Analysis - Oct 08, 2024

Radico Khaitan Technical Analysis: Key Levels to Watch 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.

Radico Khaitan Limited (RADICO) is currently trading at 1993, reflecting a position 14.57% below its recent 52-week high of 2332.7 reached on September 19, 2024. Conversely, it is a substantial 74.62% above its 52-week low of 1141.25 recorded on October 26, 2023. Analyzing the recent price action, an inside candle pattern emerged on October 7, indicating a potential consolidation phase with a parent high of 2050.0 and a low of 1927.75, suggesting that traders should monitor the breakout from this range for future direction.

From a technical standpoint, the stock shows mixed signals with the MACD reflecting bullish momentum, while the RSI is at 46.4, indicating a lack of overbought conditions. The ADX at 32.29 suggests a strong trend, yet it may be in a corrective phase given the proximity to key resistance levels. The latest price movements highlight some volatility, with the last five days showing a slight downward trend, with the stock opening at 2000 on October 8, reaching a high of 2007.15, and closing at 1992.80. The market's behavior reveals that the stock is experiencing some gaps in price movement, particularly between the high of 2050 and the low of 1927.75, suggesting traders should be cautious and look for a definitive direction.

Support levels can be identified around 1950, with resistance evident at the recent high of 2050. Key moving averages, such as the 50-day and 100-day EMAs, are also worth watching for crossovers that could signify further price movements. In summary, RADICO is navigating through a crucial phase; traders should remain alert to breakouts or breakdowns from the defined range, utilizing technical indicators for informed decision-making.