Ahluwalia Contracts (India) Limited (AHLUCONT) Stock - Complete Technical Analysis - Oct 18, 2024

Ahluwalia Contracts (AHLUCONT) Stock Technical Analysis Support & Resistance 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.

Ahluwalia Contracts (India) Ltd (AHLUCONT) is trading at 1174.25, currently 23.87% below its 52-week high and 80.65% above the 52-week low. The stock is showing potential for a breakout, but with some cautious signals. The RSI is at 53.5, indicating moderate momentum, while the ADX at 27.52 points to a reasonably strong trend. However, the Stochastic RSI at 100 suggests the stock may be overbought in the short term, which could lead to a correction. The MACD remains in negative territory, showing that bearish pressure persists.

On the support side, the range between 1082 and 1150 is crucial, with long-term support provided by the 200-day EMA at 1122.43. On the upside, resistance lies near the 1200-1250 zone, aligned with the 50-day EMA. Breaking through this level could see the stock heading towards higher resistance around 1348, while failure to hold above 1100 could test the lower support at 1082.

Recent price movements show some recovery, but traders should watch for short-term volatility and potential reversals, particularly given the overbought signals. The ATR suggests volatility is manageable, making this stock attractive for swing trades. However, caution is advised as the stock approaches critical resistance levels.