CREDITACCESS GRAMEEN LIMITED (CREDITACC) Stock - Complete Technical Analysis - Sep 05, 2024

CREDITACCESS GRAMEEN Ltd Stock Analysis: Is Now the Time to Buy or Sell NSE Technical 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. For CREDITACCESS GRAMEEN LIMITED (CREDITACC), the current price stands at 1,179, showing a decline of 34.34% from its 52-week high of 1,796, and a rise of 2.28% from its 52-week low of 1,153.

The technical indicators present a mixed outlook. The Average Directional Index (ADX) indicates a strong trend, with the value above 30, suggesting that the current trend is strong. However, the Relative Strength Index (RSI) is at 35.79, which is below the neutral 50 level, indicating the stock may be oversold. The Stochastic %K and Stochastic RSI are also in the lower range, supporting the idea that the stock might be in an oversold condition.

MACD shows a negative level, implying that the stock could be in a downtrend. Momentum is also negative, further reinforcing the bearish sentiment. The Commodity Channel Index (CCI) and the Williams Percent Range (WPR) are both in the negative territory, indicating weakness in the stock.

The stock is trading below all its major Exponential Moving Averages (EMAs) and Simple Moving Averages (SMAs), including the 10-day, 20-day, 50-day, and 100-day, suggesting that the stock is in a downtrend. The Ichimoku Base Line and Volume Weighted Moving Average (VWMA) are also above the current price, highlighting resistance levels.

The Average True Range (ATR) indicates significant volatility, with recent values showing a range of around 59.73 to 95.17, suggesting that the stock might experience large price swings.

Support levels to watch are around 1,137.75 and 1,054.45 based on Classic Pivot Points, with resistance at 1,319.6 and 1,418.15. Given the current technical indicators, traders should be cautious and consider potential entry points near support levels while monitoring for signs of a trend reversal.