Dilip Buildcon Limited (DBL) Stock - Complete Technical Analysis - Oct 11, 2024

Dilip Buildcon Limited: An In-Depth Technical Analysis and Trading 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.

Dilip Buildcon Limited (DBL) is currently trading at 511.30, which is about 13.04% below its 52-week high of 588, reached on August 28, 2024, and 78.62% above its 52-week low of 286.25 on October 25, 2023. The stock has shown a significant range of volatility, evidenced by an inside candle pattern formed on October 10, indicating a period of consolidation. The parent high of this pattern was 522.55, with a low of 507.65, suggesting immediate resistance at 522.55 and support around 507.65.

The Average Directional Index (ADX) stands at 18.13, indicating a weak trend, while the Relative Strength Index (RSI) at 44.69 suggests that the stock is nearing oversold conditions, hinting at a potential reversal. The Stochastic %K is at 30.98, reinforcing this observation of possible upward momentum. However, the MACD level of -9.24 indicates bearish momentum, and the Awesome Oscillator at -34.74 supports the current downward pressure.

In terms of moving averages, the stock is trading below its short-term Exponential Moving Averages (EMAs), which are currently around 514.24 for the 10-day EMA and 522.74 for the 20-day EMA, signifying a bearish trend. The Simple Moving Averages (SMAs) show similar trends, with the 10-day SMA at 513.46, further emphasizing resistance near the 514 to 522 range.

Furthermore, volatility has been evident with the Average True Range (ATR) hovering around 109, indicating potential price swings in the upcoming sessions. Recent trading history shows price drops, particularly on October 7 and 9, where the stock experienced a notable decline from highs near 520.50 down to 485.80.

For investors and traders, monitoring the immediate support at 507.65 will be crucial. A decisive breakout above 522.55 could indicate a bullish reversal, while a failure to hold above 507.65 could lead to further downside pressure. Keep an eye on volume indicators as well, as a surge in volume could confirm any potential breakouts or breakdowns.