Isgec Heavy Engineering Limited (ISGEC) Stock - Complete Technical Analysis - Oct 11, 2024

Isgec Heavy Engineering: Technical Analysis & Key Levels 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.

Analyzing Isgec Heavy Engineering Limited, currently trading at 1332, we note several technical indicators that warrant attention. The stock is showing a P/E ratio of 38.2, a book value of 293, and a dividend yield of 0.30%. In terms of profitability, ROCE is at 15.7% and ROE is 11.3%, indicating decent returns on capital and equity.

Support and Resistance Levels:

Support Levels: The first support level is identified at 1318 based on recent price action and Classic Pivot S1 at 1317.97. A further support level can be seen at the Camarilla S2 at 1358.23, and Fibonacci S1 at 1329.67.

Resistance Levels: Resistance is identified around 1375, aligning with the Classic Pivot and Fibonacci Pivot P levels at 1375.33. The next resistance can be observed at 1437.52 based on Classic Pivot R1.

Technical Indicators:

The ADX reading is at 15.46, indicating a weak trend. The RSI at 46.34 suggests that the stock is currently neither overbought nor oversold. The MACD is negative, indicating potential bearish momentum. The Stochastic %K at 53.27 reflects a balanced position, and the Awesome Oscillator at -70.3 suggests bearish momentum.

Price Trends and Volatility:

The stock has experienced fluctuations within a range of 1306 to 1364 over the last two days, suggesting indecision in the market, indicated by a Doji and a Spinning Top pattern. An Inside Candle pattern observed on October 10, shows a parent range of 1364.85 to 1306.00, suggesting potential consolidation. The last five trading days highlight a recent surge, with notable highs at 1356.60 on October 11 and lows at 1314.10.

Price Action:

The stock has recently shown a bearish harami pattern, suggesting a potential reversal or consolidation following upward movements. Recent trading indicates a sudden price drop from the high of 1364.85 to the close of 1331.90, indicating market volatility. The Average True Range is at 153.48, highlighting volatility in recent sessions.

In conclusion, while Isgec Heavy Engineering Limited shows some bullish potential with current support levels, the overall trend appears cautious with bearish signals from MACD and momentum indicators. Traders should monitor for a breakout above resistance levels or further confirmation of bullish momentum.