Mangalam Cement Limited (MANGLMCEM) Stock - Complete Technical Analysis - Nov 01, 2024

Mangalam Cement Stock Analysis: Key Support & Resistance Levels MANGLMCEM Technical Insights

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. Mangalam Cement Limited (MANGLMCEM) is trading at 841, reflecting a position well below its 52-week high, potentially offering upside if bullish momentum returns. Over the last few sessions, the stock has experienced moderate price swings, without a clear breakout in either direction. The RSI is neutral around 47, pointing to a balanced sentiment among buyers and sellers. ADX, at 27, implies a weak trend, with neither bulls nor bears in full control. MACD remains in the negative zone, indicating that sellers still hold a degree of influence, while the Awesome Oscillator also shows bearish tendencies.

The stocks price is close to the 10-day EMA at 828, acting as nearby support, while the 50-day EMA at 873 and 100-day EMA at 876 serve as primary resistance points. Simple moving averages show a similar trend, with the 50-day SMA at 902 also reinforcing overhead resistance. The Ichimoku Cloud suggests limited bullish potential unless a move above 873 materializes.

Support is expected around 820, while stronger support at 790 could be tested if theres continued selling pressure. Resistance at 873 and further at 900 presents a challenge for bulls, with any breakout signaling potential upside. The ATR indicates moderate volatility, suitable for traders seeking short-term gains within these defined levels. A breakout above 873 or a sustained move below 820 could help define the next direction for MANGLMCEM.