Radico Khaitan Limited (RADICO) Stock - Complete Technical Analysis - Sep 05, 2024

Radico Khaitan Stock Analysis: Key Levels, Trends

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 Radico Khaitan Limited (RADICO), the current price stands at 1,999, showing a 2.47% drop from its 52-week high of 2,050 and a significant 75.20% rise from its 52-week low of 1,141. Technically, the stock has recently experienced an inside candle pattern, indicating a consolidation phase between 2,050 and 1,960, which suggests that price movements are currently constrained within this range.

On the technical front, the stock is exhibiting strong bullish momentum. The MACD level indicates a positive trend, with both the MACD and its signal line in an upward trajectory. The RSI is in the overbought zone, suggesting that the stock might be due for a short-term pullback. The Stochastic %K and Stochastic RSI are also in the overbought territory, reinforcing the possibility of a minor correction. The ADX reading is quite high, reflecting a strong trend, but it is crucial to note that a high ADX in conjunction with a high RSI can signal potential overextension.

Support levels to watch include the exponential moving averages, with the 10-day EMA at 1,915 and the 20-day EMA at 1,845. These averages could act as crucial support zones in case of a downward move. Resistance is likely to be tested around the recent high of 2,050 and the 52-week high.

Overall, while RADICO is showing a strong upward trend, traders should be cautious of overbought signals and monitor key support levels for any potential pullbacks or trend reversals.