Hatsun Agro Product Limited (HATSUN) Stock - Complete Technical Analysis - Sep 05, 2024

Hatsun Agro 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.

Hatsun Agro Product Limited (HATSUN) is currently trading at 1,255, around 10.37% below its 52-week high of 1,400. The stock shows a moderate relative strength with the RSI at 46.62, indicating it's neither overbought nor oversold. ADX at 54.82 suggests a strong trend is in place, though the momentum indicator shows negative strength, pointing to a possible short-term pullback. The stock price is below key EMAs, such as the 10, 20, and 50-day, indicating bearish pressure. The MACD level is positive, hinting at potential upward movement, but the Awesome Oscillator signals some weakness in the bullish momentum. Notably, the Williams Percent Range of -95 suggests the stock is in an oversold zone, which might attract buying interest. On the support and resistance side, the stock is near critical support at 1,198, while resistance is expected around the 1,383 level. Traders should watch for a breakout above 1,300 to confirm a bullish reversal or a drop below 1,200 for continued downside. The ATR indicates high volatility, so risk management is crucial. Overall, while long-term fundamentals remain decent with an ROE of 17%, short-term traders should exercise caution due to mixed technical signals.