Maharashtra Scooters Limited (MAHSCOOTER) Stock - Complete Technical Analysis - Oct 25, 2024

MAHSCOOTER Stock Analysis: Key Support & Resistance, MACD, RSI & More

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.

Detailed Analysis of MAHSCOOTER:

The stock has experienced a substantial decline from its recent highs, reflecting a pullback in line with reduced trading volumes and potentially seasonal profit-taking. Trading around 10888, Maharashtra Scooters Limited has lost around 15% from its peak. This downtrend has been steady over the past week, with notable resistance levels emerging around 11500-11700.

Indicators like RSI at 44.89 and the Stochastic RSI Fast at 18.16 show the stock nearing oversold levels. The ADX, which remains stable at 26.5, suggests a moderately strong trend but without a definitive directional bias, implying that further price action is necessary to confirm trend changes. The MACD suggests potential bullish momentum, though the Commodity Channel Index and Awesome Oscillator indicate some caution in the short term.

Short-term EMAs are currently above the stock's current price, with the 10-day EMA at 11402, hinting that downward pressure could continue in the immediate term. Support lies near 10700, where recent lows align with the 50-day EMA, while stronger resistance remains at 11500. Key levels to watch include support around 10000, which has previously held as a strong psychological anchor. ATR values indicate elevated volatility, suitable for short-term trades but warranting caution for buy-and-hold investors. In conclusion, Maharashtra Scooters Limited's technical setup points to a cautious yet potentially profitable opportunity for traders eyeing a bounce-back in oversold conditions.