Cantabil Retail India Limited (CANTABIL) Stock - Complete Technical Analysis - Nov 01, 2024

Cantabil Retail India Limited Technical Analysis Key Support & Resistance Levels Revealed

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. Currently priced at 234, Cantabil Retail India Limited shows a P/E ratio of 32.4, hinting at a potential overvaluation. The recent formation of a Shooting Star pattern indicates a bearish reversal, particularly with a high of 244 that has become a key resistance level. The Average Directional Index (ADX) remains low, suggesting weak trend strength, while the Relative Strength Index (RSI) at 47.28 points towards neutrality in buying pressure.

Support is noted at 230, aligned with previous lows, and a drop below this level may signal further bearish moves. Resistance lies at 244, reflecting recent highs and potentially strong selling interest. The stock exhibits moderate volatility, and the recent fluctuations in prices underscore the importance of monitoring these critical levels. As such, traders should remain alert to movements around the support and resistance zones to gauge future price actions effectively.