Welspun Living Limited (WELSPUNLIV) Stock - Complete Technical Analysis - Sep 06, 2024

Welspun Living Limited Stock Analysis: Key Support, Resistance,

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.

Welspun Living Limited (WELSPUNLIV) is currently trading at 184, which is around 13.5% below its 52-week high of 213 and approximately 63.5% above its 52-week low of 113. This stock has a diverse range of technical indicators that suggest a mixed outlook. The MACD is showing positive momentum, indicating a bullish trend, but the RSI is neutral, hovering around the mid-level, suggesting neither overbought nor oversold conditions. The ADX is at a moderate level, reflecting a well-defined trend but not an exceptionally strong one.

Looking at moving averages, the current price is below both the 10-day and 20-day EMAs, which indicates a short-term bearish trend. However, it's above the longer-term 50-day and 200-day EMAs, which could signify a more bullish outlook in the long term. The stock is also below the Ichimoku Base Line, further suggesting short-term resistance. Support levels are around the 20-day EMA and recent lows, while resistance is likely near the 10-day EMA and recent highs. The volatility, as measured by the ATR, is showing a decrease, which could indicate a period of consolidation or reduced market movement.

In summary, while the stock shows signs of short-term weakness with resistance around 190 and potential support at 170, its longer-term trends and technical indicators suggest that it remains a strong player in the market. Traders should watch for a break above the short-term resistance or further testing of support levels to gauge future movements.