Diamond Power Infrastructure Limited (DIACABS) Stock - Complete Technical Analysis - Aug 30, 2024

"Diamond Power Stock Analysis: Key Support, Resistance

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.

Heres a detailed technical analysis of Diamond Power Infrastructure Limited (DIACABS) stock.

Current Price: 1,517

Support Levels: Key support is identified around 1,467.12, which aligns with the Camarilla S1 pivot. Further support can be seen near 1,296.93, corresponding to the Classic S1 pivot.

Resistance Levels: Immediate resistance is at 1,595.03, which is the Classic R1 pivot. Additional resistance levels are found at 1,695.62 and 1,993.72, from the Classic R2 and R3 pivots respectively. The Fibonacci R1 level also overlaps with 1,511.39, marking a significant resistance point.

Moving Averages: The stock is trading above its 10-day EMA of 1,508.34 and its 50-day EMA of 1,352.34, indicating strong bullish momentum. The 200-day EMA stands at 738.72, reflecting a solid uptrend over the long term. The Simple Moving Averages (SMA) support this bullish trend, with the 10-day SMA at 1,487.18 and the 50-day SMA at 1,374.53.

Pivot Points: The Classic Pivot P is at 1,397.52, and this level is crucial as it marks a balance point for the stock. The Camarilla Pivot P is at the same level, indicating a key level of support and resistance. The Fibonacci Pivot P also confirms this level, emphasizing its importance.

Technical Indicators:

MACD: The MACD is strongly positive, signaling a strong bullish trend.

RSI: The Relative Strength Index is at 58.78, suggesting that the stock is slightly bullish and not yet overbought.

ADX: The ADX at 32.89 indicates a strong trend.

Stochastic: The Stochastic %K is at 78.65, suggesting the stock is in the overbought zone but is showing strong bullish momentum.

Awesome Oscillator: At 121.56, it supports the ongoing bullish trend.

Williams Percent Range: At -38.1, it reflects less bearish pressure.

Volume and Volatility: The Average True Range (ATR) is high, indicating considerable volatility. This high ATR suggests that traders should be prepared for significant price swings.

In summary, Diamond Power Infrastructure Limited is experiencing a strong bullish phase with key support at 1,467.12 and resistance at 1,595.03. The stocks position above several moving averages and its positive technical indicators highlight its robust uptrend. Traders should monitor the resistance levels closely and be aware of potential volatility due to the high ATR.