Kajaria Ceramics Limited (KAJARIACER) Stock - Complete Technical Analysis - Oct 24, 2024

Kajaria Ceramics Stock Analysis: Key Support & Resistance Levels Is a Rebound Coming

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.

The current technical setup for Kajaria Ceramics Limited shows weakness, with the stock trading well below its key moving averages. The price has seen a sharp decline from the recent high of 1578.7 to its current level of 1214.65. Multiple indicators, such as RSI, Stochastic, and MACD, signal the stock is oversold, which might attract short-term buyers looking for a reversal. However, the bearish momentum remains strong, as highlighted by the Awesome Oscillator and Williams Percent Range.

Support is expected near the 1110.35 level, which coincides with its 52-week low, while resistance could be found around the 1350-1375 region, aligned with its moving averages. A breakdown below the support could lead to further declines, but if the stock holds above the support, there could be an opportunity for a price recovery. Traders should monitor volume and momentum indicators like ADX and RSI for any signs of a trend reversal.