UNO Minda Limited (UNOMINDA) Stock - Complete Technical Analysis - Sep 04, 2024

UNO Minda Stock Analysis: Key Support

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.

UNO Minda Limited's current price stands at 1,168. Analyzing its technical indicators reveals a mixed yet insightful picture. The stock is trading above its key moving averages, including the 10-day, 20-day, and 50-day exponential moving averages, indicating a positive short-term trend. The 100-day and 200-day moving averages, however, are positioned lower, suggesting potential long-term support levels.

The Average Directional Index (ADX) at 22.46 indicates a moderate trend strength, while the Relative Strength Index (RSI) of 63.47 suggests that the stock is in a relatively strong position, but not yet overbought. The Stochastic Oscillator is in the mid-range, pointing to a neutral trend. The MACD level is positive, signaling bullish momentum, and the Awesome Oscillator also supports a favorable outlook with its positive value.

Support levels to watch are near the 1120 to 1140 range, aligned with key moving averages and pivot points. Resistance appears to be more pronounced around 1277, a level that coincides with several pivot and moving average indicators. The Average True Range (ATR) suggests volatility, which traders should factor into their strategy.

Overall, while UNO Minda Limited displays bullish signs with strong support at lower levels and positive momentum indicators, caution is advised as the stock approaches resistance levels. Traders should stay alert to price movements around these critical levels and adjust their strategies accordingly.