K.P.R. Mill Limited (KPRMILL) Stock - Complete Technical Analysis - Sep 05, 2024

K.P.R. Mill 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. For K.P.R. Mill Limited (KPRMILL), currently trading around 848, the technical indicators provide a mixed yet insightful perspective. The stock is facing resistance at key levels such as the 52-week high of 1009.25, and trading around 16% below this peak suggests a bearish sentiment in the short term. Immediate support levels to watch are near 773.92 and 701.03, derived from classic pivot points, while resistance can be seen around the 891.58 pivot point.

In terms of moving averages, the stock is trading just below its short-term EMA and SMA lines, suggesting a potential for further decline if the trend continues. The Exponential Moving Averages (10, 20, 30, and 50) all indicate that the stock is struggling to maintain upward momentum. The Ichimoku Base Line, significantly above the current price, further indicates bearish pressure.

Momentum indicators such as MACD and Stochastic RSI are showing negative values, which are typical of bearish conditions. The RSI is slightly below the neutral 50 mark, suggesting a balance between buying and selling pressure. The ADX, at 13.18, suggests a weak trend, indicating a lack of strong directional movement.

Volatility is high, with the Average True Range reflecting substantial price fluctuations. This heightened volatility underscores the risk associated with trading the stock in the current environment. Overall, K.P.R. Mill appears to be in a consolidation phase with bearish tendencies in the near term. Traders should be cautious of resistance levels and potential support zones for strategic entry and exit points.