Bedmutha Industries Limited (BEDMUTHA) Stock - Complete Technical Analysis - Nov 04, 2024

Technical Analysis of Bedmutha Industries Limited: Key Levels & 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 this detailed technical analysis of Bedmutha Industries Limited, we see the stock currently trading at 216.84, reflecting a significant pullback of 31.03% from its recent 52-week high of 314.4. Meanwhile, it remains 57.13% above its 52-week low of 138. Today's candlestick pattern reveals a spinning top, indicating indecision among traders. The price opened at 215.55, reached a high of 218.50, and found support at a low of 210.81 before settling slightly lower.

Key indicators such as the MACD signal bearish momentum, while the RSI is positioned around 50, suggesting a neutral outlook. With an ADX reading below 20, the trend strength remains weak, confirming the stock's sideways movement.

Support is established at lower levels, specifically 191.04, while resistance is encountered near 247.23. Recent trading volatility, as shown by the Average True Range, points to the potential for sudden price movements. The proximity of the 10 and 20 EMAs to the current price may act as immediate support and resistance, making this a critical time for traders to watch for breaks in either direction for potential trading opportunities.