Kolte - Patil Developers Limited (KOLTEPATIL) Stock - Complete Technical Analysis - Oct 21, 2024

Kolte-Patil Developers Ltd: Technical Analysis & Price Trends Explained

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. In our detailed analysis of Kolte-Patil Developers Limited, currently trading at 392, we observe notable price movements indicating a volatile environment. The stock reached a high of 446.35 on October 17, followed by a drop, which reveals potential resistance. The price opened at 398.90 today but quickly fell to a low of 387, suggesting bearish sentiment.

Trend analysis indicates the stock remains above the 50 and 100-day simple moving averages, but the 200-day moving average at 432.79 poses a significant resistance. The ADX at 24.2 indicates a weak trend overall, while the RSI sits at 46.91, showing neutral momentum. Gaps have appeared, notably the downward gap on October 17, potentially indicating a reversal.

The stock is trading 32.92% below its 52-week high of 585 and 13.74% above its low of 345. Support is expected around the recent lows, specifically at 374.22, while resistance may be found near 410. Traders should be vigilant for confirmation from additional indicators and volume to navigate these key levels.