Graphite India Limited (GRAPHITE) Stock - Complete Technical Analysis - Oct 18, 2024

Graphite India Technical Analysis: Support, Resistance & 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. Graphite India Limited (GRAPHITE) is currently trading at 573.10, which is a notable 19.21% below its 52-week high of 709.4 from April 25, 2024. This suggests the stock may be facing selling pressure and resistance near the 600 mark. However, it remains 31.99% above its 52-week low of 434.2, showcasing a recovery from earlier declines.

Recent price movements indicate a downward trend, with the last closing at 573.10 after opening at 579.00, highlighting lower highs and lows. The Average Directional Index (ADX) at 24.62 signals a weak trend, while the Relative Strength Index (RSI) stands at 51.37, indicating a neutral market state. Stochastic indicators nearing overbought territory suggest caution.

Support levels are around 560, with potential downside targets at 515.85 if the price breaks lower. Resistance is expected between 590 and 600, with a psychological barrier at 644.25. The MACD level of 8.92 indicates bullish momentum, but recent bearish pressure must be considered.

Traders should be vigilant for sudden price movements, as the Average True Range (ATR) of 191.05 implies volatility. In summary, while Graphite India Limited appears to be recovering, careful observation of support and resistance levels is essential.