Gillette India Limited (GILLETTE) Stock - Complete Technical Analysis - Oct 16, 2024

Gillette India Technical Analysis: Price Trends & Key Indicators 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 Gillette India Limited, the stock is currently priced at 9,113, representing a 4.67% decline from its recent 52-week high of 9,560, reached on September 19, 2024. Conversely, it stands 53.01% above the 52-week low of 5,956.05 from December 21, 2023.

Support and Resistance Levels:

The immediate support level is around 8,822, while resistance is observed near 9,215. The price action over the past week shows fluctuations with the most recent high at 9,196 and a low of 8,959. A notable Doji pattern indicates market indecision, suggesting traders should monitor upcoming price movements closely.

Technical Indicators:

The stocks MACD indicates bullish momentum, further supported by a strong RSI of 66.7, suggesting it is nearing overbought territory. The Stochastic indicator at 89.01 also reinforces this notion. The Average Directional Index (ADX) of 31.85 suggests a strong trend, likely upwards.

Price Trends and Volatility:

In the last five trading days, the stock opened at 9,090, saw a low of 8,959, and a high of 9,196, closing at 9,113. This indicates a recent upward trend, particularly following the bullish engulfing pattern observed in previous trading sessions. The presence of a Spinning Top pattern alongside the Doji signals indecision, prompting traders to look for breakout confirmations.

Sudden Price Drops or Surges:

Recent trading shows significant price volatility, particularly evident with the rapid swing from 8,860 to 9,196 in a short period, indicating possible buying interest at lower levels. The ATR suggests high volatility, which traders should account for in their strategies.

Conclusion:

Given the current indicators, Gillette India Limited appears to be in a strong bullish trend, but with potential overbought conditions. Investors should watch for breakouts above resistance levels while keeping an eye on any reversal signals. Use caution if prices approach these resistance levels, as a pullback may be imminent.