Dodla Dairy Limited (DODLA) Stock - Complete Technical Analysis - Oct 11, 2024

Dodla Dairy Limited: Bullish Trend Analysis & Key Price Levels to Watch

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. Dodla Dairy Limited (DODLA) has shown notable activity recently, with the current price at 1291.90, which is 4.03% below its 52-week high of 1346.1 and an impressive 98.37% above the 52-week low of 651.25. The stock has exhibited bullish behavior, highlighted by the formation of the "Three White Soldiers" pattern, indicating a potential continuation of upward momentum. Over the last five trading days, we observe a significant surge in price from 1188.00 to a peak of 1309.00 today, suggesting strong buying interest.

Support levels are identified around 1210.1, while resistance is seen near 1362.1. The Average Directional Index (ADX) at 31.26 suggests a strong trend, supported by a Relative Strength Index (RSI) of 66.74, indicating the stock is approaching overbought territory. The Stochastic oscillator readings, with %K at 55.04, add to the bullish outlook, but caution is warranted given the Stochastic RSI Fast nearing 87.38.

Volatility appears moderate, with an Average True Range (ATR) reflecting values around 45.92, suggesting that traders should prepare for possible price fluctuations. The recent price action, especially the gap from 1188.00 to 1309.00, shows strong momentum, although traders should watch for any potential reversals or profit-taking.

In summary, Dodla Dairy Limited is positioned in a strong upward trend, backed by significant technical indicators. Traders should remain alert around the identified support and resistance levels, with a focus on managing risk in this dynamic environment.