Dalmia Bharat Limited (DALBHARAT) Stock - Complete Technical Analysis - Oct 23, 2024

Dalmia Bharat Limited Technical Analysis: Key Support & Resistance Levels Revealed

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 today's analysis of Dalmia Bharat Limited, the stock currently sits at 1761, 27.56% below its 52-week high of 2430.7 and 6.63% above its low of 1651.4. Recent trading sessions reveal notable price fluctuations, with the stock recently closing lower after reaching a high of 1829.9, which signifies potential resistance in this area.

The technical indicators present a bearish outlook. The RSI indicates an oversold condition, suggesting that the stock may be undervalued in the short term. The MACD is also showing a bearish crossover, signaling continued downward momentum. Moreover, the ADX remains below 20, indicating a lack of strong trends, so traders should be cautious about entering positions without additional confirmation.

Key support levels to watch are around 1750 and 1715, where buying interest may emerge. On the upside, resistance at the Classic Pivot point near 1903 could hinder price recovery. The high volatility indicated by the ATR suggests that significant price movements can be expected, warranting attention.

In conclusion, for traders looking at DALBHARAT, the key levels to monitor are 1750 for support and 1820 for resistance. A break below support could lead to further declines, while a move past resistance might signal a potential reversal. Ensure to maintain robust risk management strategies.