Greaves Cotton Limited (GREAVESCOT) Stock - Complete Technical Analysis - Oct 29, 2024

Technical Analysis of Greaves Cotton Limited: Key Insights for Traders

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 todays analysis of Greaves Cotton Limited, we note the stock's current price at 175.38, representing an 11.87% decrease from its recent high of 199.0 and a 56.52% increase from its 52-week low of 112.05. The Spinning Top pattern and Doji indicate indecision, supported by the MACD and RSI showing neutral to bearish sentiment. The ADX around 20 reflects a weak trend, indicating potential price fluctuations.

Key support is at the 172-175 range, with resistance noted around 178-182. Traders should be cautious as the stock navigates these levels, and watch for momentum shifts from the Stochastic indicators, which suggest potential oversold conditions. The ATR reinforces the volatility in recent sessions, highlighting the importance of careful trade decisions.

This technical overview is essential for both short-term traders and long-term investors aiming to capitalize on market movements in Greaves Cotton.