Atul Limited (ATUL) Stock - Complete Technical Analysis - Sep 06, 2024

Atul Limited Technical Analysis: Key Levels

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. Atul Limited (ATUL) is currently trading at 7,887, which is approximately 3.06% below its 52-week high of 8,135. The stock is 52.40% above its 52-week low of 5,175.

Technical Analysis:

Support and Resistance: Key support levels are around 7,659.97 (S1) and 7,352.48 (S2), while resistance can be found at 8,205.17 (R1) and 8,442.88 (R2). The stock has recently tested the support level of 7,659.97, showing resilience in this area.

Moving Averages: The stock's price is currently above its 10-day (7,915.21) and 20-day (7,881.60) simple moving averages, suggesting a bullish short-term trend. However, it is below its longer-term moving averages like the 200-day (6,836.53) and 100-day (7,062.37) EMAs, indicating some bearish pressure in the longer term.

MACD: The MACD is positive, indicating bullish momentum. However, watch for any crossovers that might suggest a potential shift in trend.

RSI: The Relative Strength Index is at 55.1, indicating the stock is in a neutral zone, with no immediate overbought or oversold conditions.

ADX: The ADX reading of 24.6 suggests that the stock is in a moderately strong trend, though it is not yet strong enough to indicate a strong directional move.

Stochastic Indicators: The Stochastic %K is at 52.21, which is also in a neutral range. The Stochastic RSI Fast at 20.78 suggests the stock might be nearing oversold conditions, which could signal a buying opportunity.

Volume and Oscillators: The Awesome Oscillator is positive, suggesting bullish momentum. The Williams Percent Range is at -58.82, indicating the stock is not in an overbought state. The Bull Bear Power is negative, suggesting some bearish pressure, though this should be monitored for changes.

Overall, while Atul Limited shows a strong short-term trend with positive indicators like MACD and Awesome Oscillator, longer-term moving averages and the ADX suggest a mixed outlook. Traders should watch for potential support and resistance levels and consider short-term trading opportunities while being cautious of longer-term trends.