Asian Granito India Limited (ASIANTILES) Stock - Complete Technical Analysis - Nov 04, 2024

ASIANTILES Stock Analysis: Support & Resistance Levels Technical Indicators Breakdown

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. Asian Granito India Limited (ASIANTILES) currently trades at 68.3, hovering in a tight range between its recent lows and resistance zones. The RSI at 35 indicates possible oversold conditions, suggesting traders should watch for any upward price movement as a potential reversal. The ADX stands at 29, highlighting a moderately strong downtrend, and both MACD and Awesome Oscillator levels remain bearish, confirming ongoing selling pressure. Moving averages reinforce the bearish sentiment, as the stock price is below both short-term and long-term EMAs, making a breakout challenging without strong buying volume.

Key support is observed around 65, while resistance near 72 is backed by the 20-day and 50-day EMAs. The stocks recent inability to hold above these resistance points reflects continued weakness. However, if buying pressure emerges, we could see a move back toward 72 or even higher levels, whereas a fall below support may lead to further declines toward 60. Traders should watch for stochastic oscillators for hints of reversal or continued bearish momentum in upcoming sessions.