SHREE CEMENT LIMITED (SHREECEM) Stock - Complete Technical Analysis - Nov 05, 2024

Analyzing SHREE CEMENT: Is This Stock Ready for a Rebound

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. Technical Analysis for SHREE CEMENT LIMITED (Web Version)

Current Price: 24,696

52-Week High: 30,737.75

52-Week Low: 23,700

Price Trends:

The stock is trading significantly lower than its 52-week high, reflecting a bearish sentiment. Recent trading sessions showed price fluctuations, with a sharp decline from the highs seen recently.

Support and Resistance Levels:

Support Levels:

Classic Pivot S1 at 23,815.03

Camarilla S1 at 24,824.74

Resistance Levels:

Classic Pivot R1 at 26,514.08

Camarilla R1 at 25,319.56

Volatility and Gaps:

The stock shows increased volatility as indicated by the ATR of approximately 2,098.71, suggesting potential for price gaps and swift movements.

Indicators:

RSI indicates the stock may be oversold, currently at 43.61.

MACD shows a bearish trend, implying weakness.

Stochastic indicates potential consolidation at 60.

ADX reflects a weak trend at 14.69, hinting at a potential pause in price movement before any directional breakout.

Conclusion:

Investors should monitor SHREE CEMENT closely, particularly around the support levels, as any break below may indicate further downside risk, while a move above resistance could signal a bullish reversal.